The University of Wisconsin Foundation officially launched the public phase of a fundraising effort to raise over a billion dollars in revenue for UW’s general budget. Over a period of six years, the Foundation is hoping to raise $1.5 billion, calling the proposal “Create the Future: The Wisconsin Campaign.”
A gathering of many faculty and staff representing a plethora of the departments and majors offered at UW gathered Friday at Memorial Union to commemorate the kickoff, followed by an evening reception and dinner at Monona Terrace.
“It’s unheard of,” UW spokesman Kent Barrett commented on the size of the fundraising campaign. “We’ve never had something this large.”
The Foundation started the campus-wide fundraising endeavor in 2000 in what UW Foundation President Andrew “Sandy” Wilcox called the quiet phase. So far, the university has raised $740 million. Wilcox said the money raised for UW is usually earmarked for a specific program, department or building project.
“Of the $131 million that was raised last year, only $600,000 was unrestricted,” Wilcox said.
“Our donors don’t want to substitute for the general budget,” Wilcox added. He continued by saying some legislators might see the $1.5 billion in funds and believe the university is wealthy and therefore cut funding for UW, resulting in a need for raised funds from the private sector to be used for normal university operations.
However, Wilcox said if prospective donors see funding for a specific project being fed into the general budget, some would reconsider donating at all.
Wilcox added that students will also see the benefits directly from UW Foundation’s activities.
“From a student’s point of view, many donors are interested in students’ financial aid,” he said. Wilcox said that because of the rise in tuition costs for both in-state and out-of-state students, possible contributors are now thinking about the endowment.
“Nobody was really interested several years ago [in financial aid for students],” Wilcox said. “Now we can make a much better case.”
The UW Foundation is working closely with UW Chancellor John Wiley to help in the effort. Barrett said that Wiley will make regional trips to alumni and supporters of UW to encourage donors to give money to programs on campus.
Wiley will not be the only notable public servant to lobby for UW funding. Former Wisconsin governor Tommy Thompson will lend his notoriety to UW’s School of Veterinary Medicine in order to help raise contributions for the school.
“I’m honored to be part of this capital campaign for the University of Wisconsin- Madison School of Veterinary Medicine,” said Secretary of Health and Human Services Thompson, a long-time supporter of Wisconsin’s only veterinary school. “For millions of people, pets are part of their families and for thousands of farmers, animals are their livelihood. We need to make progress treating animals just like we need to make strides treating humans.”
Recent significant contributions to UW came from a $6.4 million gift to the School of Business Applied Corporate Finance Program from alumnus and former All-Big Ten basketball player Albert Nicholas. An anonymous benefactor who also graduated from the UW business school also gave $2 million to the same cause.
Donations were received on the same day as the public phase launch of the “Create the Future” effort. Wiley said the gifts were generous and added that it would bring momentum to the capital raising campaign.
