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New Goal - $1 Billion

Contact: Kelley Bozeman

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“The initial goal of $600 million for UK was ambitious – and yet we were able to exceed it. During my tenure I have spoken with numerous donors and they all have said the same thing – they wanted to give something back to the university that had given them so much. I want to thank Dr. Charles Wethington Jr., who launched The Campaign during his presidency. I also want to thank the entire UK family – the deans, directors, faculty, staff, and especially our development office – for their efforts and hard work to ensure the success of this campaign.”

-- Lee T. Todd Jr.,
president,
University of Kentucky

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LEXINGTON, Ky. (Oct. 24, 2003) -- When University of Kentucky officials gathered today for the annual development luncheon, they had cause for celebration: the successful completion of the most ambitious fund-raising endeavor in Kentucky’s history. The Campaign’s success gave university officials the confidence to expand its fund-raising goal by an additional $400 million over the next four years, bringing the new total goal to $1 billion.

UK President Lee T. Todd Jr., campaign National Chair James W. Stuckert of Louisville, and UK Vice President for Development Terry Mobley announced that The Campaign, which began in 1997, raised over $618 million in just over five years – surpassing its original goal of $600 million.

“The initial goal of $600 million for UK was ambitious – and yet we were able to exceed it,” said President Todd. “During my tenure I have spoken with numerous donors and they all have said the same thing – they wanted to give something back to the university that had given them so much. I want to thank Dr. Charles Wethington Jr., who launched The Campaign during his presidency. I also want to thank the entire UK family – the deans, directors, faculty, staff, and especially our development office – for their efforts and hard work to ensure the success of this campaign.”

“I am absolutely thrilled with the success of this campaign,” said Stuckert, a member of the class of 1960. “The fact that we were able to surpass the original goal by over $18 million can be attributed to the loyalty, love and support of this institution’s great alumni and friends.”

Gifts and pledges to the university have raised UK’s endowment from
$195 million to $415 million. Those gifts earmarked for endowment have helped create 58 new chairs and 148 professorships, bringing today’s total to 80 chairs and 195 professorships. Donors’ contributions also have assisted students, faculty, academic programs, research and facilities, including the William T. Young Library.

President Todd said the decision to extend the current campaign was made because exceeding the $600 million goal is a clear sign of the support UK has throughout the state and beyond to become a top-20 public research institution.

"Considering the current financial climate in Kentucky, it is evident that if we are to fulfill our mandate to become a top-20 institution by the year 2020, private dollars are crucial,” Todd said.

“Throughout The Campaign, we built new relationships with alumni and identified many new friends of the university,” Mobley said. “The demonstrated enthusiasm and support for the University of Kentucky has been wonderful. We now have great momentum, and we have found previously untapped potential for future university support.”

Planning for the next phase of The Campaign is under way, and details will be revealed at a kickoff event in the spring of 2004.


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