Our Michigan donors have made
this another record fiscal year. They
have stepped forward, individuals,
corporations, foundations, and
organizations, almost 118,000 of
them, with gifts and pledge payments
totaling $257 million. This is
truly a gratifying vote of confidence
in the University.
This year is particularly significant
because we are nearing the halfway
point on the timeline of the public
phase of the Michigan Difference
campaign that has a goal of raising
$2.5 billion by its close in December 2008. This
fiscal year, donors made commitments, including
bequest intentions, multiple-year pledges, as
well as outright gifts of cash, totaling more than
$352 million toward the Michigan Difference campaign.
Because of this strong support, we have
reached a number of landmarks in the campaign.
The Campaign continues to strengthen the academic quality of U-M through giving to support the faculty. To date, donors have made gifts to create more than 125 new endowed professorships. Other significant landmarks have been reached in building priorities.
The Museum of Art, faced with raising $35.4 million including a $1.5 million fundraising challenge from the Kresge Foundation, reached both goals because of the outstanding generosity of donors who understand the value of ensuring that the University of Michigan has a museum of this caliber for students, faculty, alumni and the thousands of community members who use it each year. Groundbreaking for the addition took place September 14, 2006.
The Stephen M. Ross School of Business met its fundraising goal of $145 million. Fundraising will continue, however, for a number of priorities within the new facility. Groundbreaking took place October 5, 2006.
The Student Publications Building renovation project had a goal of $4 million, met in large part through the generosity of a $3 million gift from former Michigan Daily photographer and veteran newspaper publisher Stanford Lipsey (AB �48) of Buffalo. In recognition of his leadership the Regents approved the naming of the building the Stanford Lipsey Student Publications Building. Regent Emeritus Phillip H. (AB �60) and Kathy Power of Ann Arbor made a generous gift of $500,000 toward the renovation.
The Knight-Wallace Fellows, the distinguished journalism program that brings mid-career journalists to campus for a year of study, had received a $5 million challenge from the John S. and James L. Knight Foundation to raise $1 million per year. Donors stepped forward this year to complete the challenge, including Honorary Campaign Co-Chair Mike Wallace (AB �39, HLLD �87), and Bert Askwith (AB �31) of New York, who is serving as Vice Chair of the campaign.
For the first time, the University has undertaken a comprehensive fundraising campaign among its faculty and staff. Associate Dean of Students Dr. Stephanie Pinder-Amaker and former Provost and Professor of Economics Paul Courant agreed to lead this campaign under the theme of �Faculty and Staff are the Heart of the Michigan Difference.� They urged faculty and staff to participate by making gifts of any amount for any purpose throughout the University. The goal is participation. To date, 31 percent of faculty and staff members have made gifts to the campaign, and more than 12,000 pins with the campaign�s slogan have been sent to donors.
To focus attention on the importance of need-based financial aid in the state, Basketball Coach Tommy Amaker, Alumni Association Executive Director Steve Grafton, Campaign Chair Rich Rogel (BBA �70) and a group of students who are receiving scholarship support took this message on the road in April to Holland, St. Joseph, Kalamazoo and Battle Creek. They met with alumni to tell them that many of our students could not have come to U-M without financial aid, and that increasingly financial aid packages are made up of loans, as opposed to grants, because the University lacks resources to provide more grants. They also explained the importance of M-PACT, the program that helps in-state students with the greatest financial need. We will continue to urge donors to support students who have the academic potential to belong at Michigan, but who do not have the financial resources.
The response this year, as last, has been most outstanding. We have accomplished much thanks to the generosity and commitment of so many. We have much left to do. The focus will turn increasingly to raising funds for student financial aid and for endowed professorships.
The Campaign Update that follows makes clear
how donors are making a tremendous difference
in the life of our University, community, state
and world.
Jerry A. May
Vice President for Development