The California Institute of Technology, one of the most prestigious research universities in the country, announced that its capital campaign raised $ 3.4 billion.
Caltech, as the university is commonly known, started his Break through Capital Campaign in 2016 with a fundraising goal of $ 2 billion. On Friday, the university officially closed the campaign and collected the largest amount of private donations in its history.
In addition to exceeding the target by more than a billion dollars, the campaign also included a few other impressive numbers:
- She received gifts from more than 14,500 donors, of which more than 6,000 were going to university for the first time.
- Six gifts of $ 100 million or more were received.
- More than 300 gifts worth at least $ 1 million were given.
- More than 45% of living alumni donated to the campaign and gave more than $ 770 million in gifts.
- Faculty and staff donated nearly $ 29 million.
Key areas of support
The Caltech campaign touched almost every aspect of the university, with hundreds of millions of dollars earmarked for student funding, faculty improvement, diversity and inclusion initiatives, capital improvements, and research support. More than half (56%) of the campaign donations went to the university’s foundation, now valued at $ 3.8 billion.
- $ 136 million was raised for Bachelor scholarships, many of them were donated permanently.
- $ 275 million went for Graduate scholarships, equipped with many of them too.
- Faculty support including 28 endowed Junior professorships, 46 Endowed professorships, and 24 Endowed management chairs.
- $ 227 million was raised for different Diversity, equity and inclusion initiatives.
- Fifteen Institutes, centers or research initiatives in several scientific areas have been established or further developed.
- With a $ 30 million gift, Caltech named and endowed its first academic department – the Andrew and Peggy Cherng, Medical Technology Department.
- Several Laboratories, academic buildings and research facilities were built or renovated.
- $ 750 million, the largest gift in Caltech history, from Stewart Resnick and his wife Lynda Resnick to top up the Resnick Sustainability Institute (RSI). The RSI is a multidisciplinary effort focused on climate science, global ecology, biosphere engineering, and environmental sustainability.
- Over $ 139 million from the Estate from Allen VC Davis to support faculty. Until now, The Davis gift has enabled Caltech to create three endowed professorships and seven leadership chairs. Further foundation positions will be assigned in the future.
- $ 137 million unreserved support from trustees Gordon Moore and Betty Moore. Caltech used $ 100 million from this donation to start the Gordon and Betty Moore Graduate Fellowship Match, which provides an additional dollar for every $ 2 awarded to fund scholarships.
- $ 115 million from Tianqiao and Chrissy Chen to raise the Tianqiao and Chrissy Chen Institute of Neuroscience. This gift helped build a neuroscientific research that opened this year.
- $ 100 million from trustees Donald and Brigitte Bren to raise the Space-based solar energy project and support endowed professorships. The Space-Based Solar Power Project aims to generate solar power in space and radiate it to earth.
- An anonymous gift of more than $ 100 million that will be used in support medical research and translational science.
Caltech officials celebrated the campaign to create the financial foundation on which the university can expand its teaching and research for years to come.
“We are small and aware of what we do. We interact with colleagues without any problems. We just exchange ideas. We attach great importance to great ideas and, above all, to people. In doing so, you come up with ideas that may or may not work, but when they work you can approach science and technology in a novel way that has the potential to completely change attitudes on a subject, “Caltech said -President Thomas F. Rosenbaum, Professor of Physics and Sonja and William Davidow Presidential Chair.