The University reached its $1 billion goal for the Campaign for Michigan
with 15 months remaining until the official end (Sept. 30, 1997) of the five-year
public fund-raising campaign.
"The spectacular achievement of reaching the $1 billion total, the first for a
public university in America, is the result of exceptional teamwork on the part of
our nationwide network of volunteers, our many generous alumni/ae and friends,
and our deans, faculty and development staff," U-M President James J. Duderstadt said.
To date, the Campaign total stands at $1.02 billion, including $809 million in
new gifts and pledges and $215 million in new bequest intentions. The gifts will
provide support for faculty and students and will advance a wide variety of research
and other program initiatives in the University's 18 schools and colleges on
the Ann Arbor campus and on its Dearborn and Flint campuses.
A major remaining goal of the Campaign is to raise an additional $100
million in endowment gifts in the months left in the campaign.
"The $240 million in endowment gifts that has already been raised represents the largest endowment gift total ever achieved in a Michigan campaign," Thomas C. Kinnear, U-M vice president for development, said.
"But because of the importance of endowment to the assurance of excellence in teaching and research and to the University's future financial stability, we
will redouble our efforts to achieve the Campaign goal of $340 million in endowments."
Volunteer co-chairs of the Campaign for Michigan are Allan D. Gilmour '59
MBA of Dearborn, Michigan, retired vice chairman of the Ford Motor Company; J.
Ira Harris '59 BBA of Chicago, senior partner with the international investment
banking firm of Lazard Freres and Company; Margaret A. (Ranny) Riecker of
Midland, Michigan, president of the Harry A. and Margaret D. Towsley Foundation
and trustee of the Herbert H. and Grace A. Dow Foundation; Glenn E.
(Bo) Schembechler of Ann Arbor, U-M's former head football coach and athletic
director; and Mike Wallace '39 AB, '87 JJD (hon) of New York, correspondent with
CBS News/60 Minutes.
. . . June 1996