Wake Forest raises $689 million in capital campaign
By Cheryl Walker
July 18, 2006
Wake Forest University raised $689 million in its capital campaign that concluded June 30, exceeding a $600 million goal aimed at raising $400 million for the university's Reynolda Campus and $200 million goal for its Bowman Gray Campus.
Wake Forest succeeded with both campus goals, bringing in $405 million for the Reynolda Campus and $284 million for the Bowman Gray Campus.
The fundraising effort, called "The Campaign for Wake Forest: Honoring the Promise," was publicly launched in 2001 with a total goal of $450 million. Quick early success in the campaign prompted the university to increase the goal to $600 million in 2002.
"From the earliest days of this campaign, Wake Forest's alumni, parents and friends have exceeded our hopes," Wake Forest President Nathan O. Hatch said. "With their loyalty and generosity throughout this effort, donors have made a commitment to sustaining the promise of Wake Forest.
"Thousands of donors made gifts in the 'Honoring the Promise' campaign that will have a lasting effect on Wake Forest, including its students and faculty," Hatch added.
The campaign had a special focus on endowment gifts that provide for student financial aid and faculty support.
The need for increased financial aid has increased as the university holds fast to its need-blind admissions policy for undergraduates, which provides for admission regardless of their ability to pay tuition. The university is committed to meeting 100 percent of every qualified student's demonstrated financial aid need.
On the two campuses combined, nearly 400 new scholarships were created, while 437 existing scholarships gained additional support.
In addition, the campaign funded on the two campuses the creation of about 250 new faculty funds and added new support to 80 existing faculty funds. Gifts also contributed to endowment and current expenditures in support of a wide range of academic programs.
Gifts to the campaign also contributed to support for other priorities, including the construction of new facilities. The Reynolda Campus, for instance, gained 156,000 square feet of new space for facilities during the campaign. New academic facilities opened during that time included, in part, Greene Hall; Kirby Hall (part of the Calloway Center for Business, Mathematics and Computer Science); and a major addition to Wingate Hall to serve as a home to the Divinity School.