Penn Capital Campaign

<p>^ What you say has merit, but don't underestimate the PR value of these campaigns and their goals. If the relative size of the goal wasn't that big of a deal, Penn wouldn't be maintaining it as a closely-held state secret until the major kickoff event--which it has been promoting heavily to alumni and students--and building up the big announcement as it has. I've lived through several of these campaigns (in fact, I attended the "kickoff" of the "Campaign for the Eighties" when I was a student in the '70s), and I don't remember Penn ever before making as big a deal out of a kickoff as it has this one (waiting until the Saturday evening of Homecoming to make sure that hundreds--if not thousands--of alumni were present). In my recollection, these things have usually been announced with a press release and a fairly low-key event during a weekday.</p>

<p>These days, with most capital campaigns, but especially with this one, it seems to be as much about the PR message that the campaign sends as it is about raising the money itself. It's no coincidence that, e.g., Stanford, Cornell, and Columbia have each recently set campaign goals there were the same as or slightly higher than all those previously announced. If Penn is to be widely perceived as jumping to the next level (i.e., "from excellence to eminence," as Amy puts it) this campaign and its goal are a very material way to help accomplish that. And Penn seems to be going out of its way to give this campaign that significance:</p>

<p>
[quote]
On October 20, we will launch the most ambitious fundraising campaign in Penn's history. With momentum unmatched by any other institution, we stand at the threshold of a once-in-a-century opportunity. In front of us is the path to eminence--a campaign that promises to make Penn not only a university of distinction but also one that will model for the world a 21st-century vision for higher education. The time is now. The place is Penn. Join us.

[/quote]
</p>

<p>Given the "space race" or "arms race" mentality that seems to characterize academia at this level, I just can't imagine Penn building up the the campaign launch like that, bringing hundreds of alumni to campus to be present for the big moment, only to announce that the goal is basically the same as those of 3 other currently pending campaigns. But, I've been surprised before, so who knows?</p>

<p>Per an ad in today's DP, the Celebrity Guest DJ is . . . (drum roll) . . . Kid Capri.:confused: Not quite sure whether this whole deal is directed at the students, or the alumni.</p>

<p>Also according to today's DP, the mega-tent complex in the old postal parking lot--which took a month to set up--is for a "black-tie gala" celebrating the campaign kickoff later Saturday evening for 2,000 "Penn dignitaries and officials" (read: trustees and big donors).</p>

<p>So, it looks like the mob-scene on the Green is to appease us commoners, while the real action will take place later that night over at the parking lot. I just hope they get a lot of money out of it.:p</p>

<p>I like the DP's headline: Glitz, Glamor and a good old tent!</p>

<p>You're certainly into alliteration.;)</p>

<p>sure as shortcake ;)</p>

<p>The campaign is to be called "Making History":</p>

<p><a href="http://www.upenn.edu/pennnews/article.php?id=1243%5B/url%5D"&gt;http://www.upenn.edu/pennnews/article.php?id=1243&lt;/a&gt;&lt;/p>

<p>Perhaps an indication of how large the goal will be?</p>

<p>It refers to the "largest ever" campaign by Penn. That's the only indication I see. What was the last campaign? I wouldn't conclude from this wording that it's the largest of all universities. What were your thoughts?</p>

<p>I was just reading between the lines of the "Making History" label. Every campaign is the biggest to date in that school's history. That's not unusual (in fact, it would be unusual if it WEREN'T) and hardly history-making. I'm just speculating that "Making History" is a signal that this will be the largest campaign ever, of any university--i.e., of historical proportions. That would certainly be consistent with the language I quoted above in post #21.</p>

<p>Less than 24 hours until we find out. Maybe we should start a betting pool. :)</p>

<p>They've probably announced it, but I haven't heard...what is it? I've been checking online and can find nothing.</p>

<p>Regarding "Making History" tagline for the campaign: I don't think Penn would be impolitic enough to name the campaign for the magnificence of the number it chose for the campaign. You almost might as well call it "Give Us Your Firstborn." Well, of course I jest. But I sincerely hope Making History will refer to what will be done with the money raised and not the amount of the money raised.....</p>

<p>We'll know soon enough, I guess.</p>

<p>Just back from the big kickoff. And the winner of the College Confidential Capital Campaign Goal Sweepstakes is . . . . . . (drum roll) . . . . . . . BEDHEAD. It's $3.5 billion (the same number being thrown around over a year ago).</p>

<p>As I inidicated I would be, I'm a bit surprised (and disappointed). I really do think that the build-up--included the tight secrecy about the number maintained until the moment it left Amy's lips tonight--set up expectations for a higher number. I mean, $3.5 billion was mentioned in an Almanac article in September of 2006--why all the secrecy and build-up if it's the same number acknowledged over a year ago?</p>

<p>They continued tonight with the rhetoric about this being PENN'S MOMENT, Penn will be THE university of the 21st century, this is a history-making campaign, Penn has unique momentum, blah, blah, blah. And then they announced a campaign goal that's significantly lower than those announced last year by Stanford, Columbia, and Cornell. Unless they can establish that Penn can do more with less, and do so better than any other university, the goal of this campaign just doesn't match the rhetoric and the hype.</p>

<p>Not the $3.5 billion is anything to sneeze at. But it just seems to me that a more ambitious goal would have sent a strong and tangible message--to the world at large and to the alumni and potential donors--that Penn is deadly serious about becoming a true peer of the likes of HYPS. In other words, it would have put its money where its mouth is.</p>

<p>Oh well. Venting over. Perhaps Penn really CAN do more with less. It seems to have done so up to now.</p>

<p>I just received an email from Penn announcing the $3.5 billion goal. It also says that they have already raised $1.6 billion of that (during the 2-year quiet phase). In my mind, that makes it even more perplexing that they didn't set a higher goal of, say, $5 billion, given that they've already raised almost a third of that and still have 5 years of a public campaign to go.</p>

<p>The email contains a link to the campaign website:</p>

<p><a href="http://www.makinghistory.upenn.edu/%5B/url%5D"&gt;http://www.makinghistory.upenn.edu/&lt;/a&gt;&lt;/p>

<p>Here's a press release they just put up (they sure aren't wasting any time!):</p>

<p>
[quote]
"Making History": University of Pennsylvania Sets Five-Year Fundraising Goal of $3.5 Billion
October 20, 2007 </p>

<p>PHILADELPHIA -- President Amy Gutmann announced this evening that the University of Pennsylvania has launched "Making History: The Campaign for Penn," a $3.5 billion fundraising campaign. Joined by University trustees and other campaign leaders at a celebration on Penn's College Green, Gutmann reported that $1.6 billion has already been raised toward the campaign goal.</p>

<p>"This monumental campaign is designed to make Penn an even greater university and an even more extraordinary force for good, here at home and around the world. We will become a new kind of university," Gutmann said, "more intellectually daring, more culturally and physically vibrant and more socially transformative than ever before imagined." </p>

<p>Penn's tradition of linking theory and practice in service to the world is distinctive and extends back to its founding. </p>

<p>"Universities around the globe," Gutmann said, "now know what Penn has known from the start: that institutions of higher education have the rare ability - and accompanying responsibility - not only to create knowledge but also to use that knowledge to serve humanity and improve lives."</p>

<p>With 12 schools on one contiguous urban campus, the University of Pennsylvania has an environment that facilitates collaboration across disciplines. By combining strengths in arts and sciences with its top-quality professional schools, Penn is singularly prepared to innovate and lead in an era in which varied areas of knowledge and perspectives are needed to solve the complex problems that confront today's world. </p>

<p>"Interdisciplinary learning is essential in a world where fundamental issues are so complex and far-reaching," Gutmann said. "Penn has a long history of crossing boundaries in the pursuits of knowledge, understanding and service, and we intend to take our leadership in this area to a whole new level."</p>

<p>By every external measure - the quality of its students, the number of applicants, undergraduate and graduate school rankings and alumni support - Penn is stronger than ever, poised for success in redefining the role of the modern university. </p>

<p>"Already among the finest institutions of higher education, Penn has developed great momentum, and it seems that everyone - inside and outside the University - recognizes this. But the success of this Campaign is absolutely critical to providing the resources needed to sustain that upward trajectory," said James Riepe, chair of Penn's Board of Trustees.</p>

<p>The campaign is designed to build on that momentum by supporting the University's highest priorities, expanding support for students, faculty and the facilities they need for success.</p>

<p>Students: Penn's goal for student aid will help the University continue to admit undergraduate students based solely on their achievements and talents, without regard to financial circumstances. Increased financial-aid endowment will also provide more fellowships for the graduate and professional students who represent the next leaders across virtually every sector.
Faculty: Funds targeted at the faculty will allow Penn to recruit and retain even more of the innovative professors who drive the University's greatness. The engine of any great research university is the faculty, and Penn intends to grow and attract more of the best, particularly those whose teaching and research cross disciplines.
Facilities: The campaign will support Penn's discovery and application of new knowledge through funding such projects as the Singh Nanoscale Technology Center, the Neural and Behavioral Sciences Building and the Perelman Center for Advanced Medicine. A new college house will enhance the living/learning environment for undergraduates.
Campaign goals for new and renovated facilities will help Penn take the first steps in its 30-year campus development plan, "Penn Connects: A Vision for the Future." The campaign will support the plan's conceptual framework by strengthening the academic core, creating open space and playing fields and connecting the campus to the city. </p>

<p>"This is a moment," said George Weiss, a long-time Penn trustee and chair of the "Making History" campaign, "when the entire Penn community is united behind a new vision for Penn. Wherever I go, I hear from alumni and friends that they are proud of what Penn is doing to prepare young people for an increasingly complex world and that they will support our efforts to have an even greater impact on societal issues around the globe." </p>

<p>Weiss will be supported by three co-chairs: Christopher H. Browne, who is also chair of the campaign in the School of Arts and Sciences; Henry Jordan, who chairs the campaign in Penn Medicine; and Robert M. Levy, who chairs the campaign in the Wharton School. </p>

<p>Of the funds to be raised, $1.75 billion will strengthen Penn's endowment in support of its goals for student aid, faculty recruitment and teaching and research programs. A stronger endowment will also ease pressure on operating funds, which can then be invested in programs that will be of strategic importance to the University.</p>

<p>The campaign Web site is <a href="http://www.makinghistory.upenn.edu%5B/url%5D.%5B/quote%5D"&gt;http://www.makinghistory.upenn.edu.

[/quote]
</a></p>

<p><a href="http://www.upenn.edu/pennnews/article.php?id=1244%5B/url%5D"&gt;http://www.upenn.edu/pennnews/article.php?id=1244&lt;/a&gt;&lt;/p>

<p>i have to say, that celebration on the green was pretty crazy...</p>

<p>I was standing up front near the stage during all the student performances, right near the main speaker--I left before the DJ started again. My ears are still ringing.:p</p>

<p>45 Percenter, I share your thoughts. My optimistic suspicion , however, is that Penn has been very thoughtful and careful about this launch. If you read the campaign site, and the "business cases" for each sub-campaign, you'll see just how well planned it all is. Strong focus on endowed resources and missions which appeal to donors - public and commmunity service, and facilities that support Penn's service and research activities. IMHO, only Stanford's campaign is quite as forward looking and high minded.</p>

<p>Re the $3.5, I think that - in the face of a potential recession and all the other competing campaigns - Gutman & Co. decided to tack to a more conservative line. Given that they've raised the same amount as Columbia did at the point of it's launch, and that Penn has on average raised a lot more than Columbia annually, Penn is simply biding its time. </p>

<p>The school has great momentum and that shouldn't be squandered by announcing an ever-bigger campaign target and then possibly missing the goal; that wouldn't be great for Penn's progress. I think they'll do what they did during the last campaign --> announce a $3.5 billion goal, and promptly raise the target by a meaningful amount in a year or so. </p>

<p>I thinks it's highly likely Penn finishes with a higher total take than Columbia or Cornell. Penn continues to outperform both on most major financial metrics. As of June 30, our endowment is 30% above Cornell's and only 7% below Columbia's; compared to the stats 20-25 years ago, that's amazing progress. But time will tell...... </p>

<p>For now, open your checkbooks.....</p>

<p>True--for the last campaign (in the '90s), the original goal was $1 billion, and they ended up raising $1.4 billion. If they can collect an additional 40% this time, . . . . :)</p>

<p>You're also right about the foward-looking, high-minded public service slant. The way Amy talked tonight, and the 15-minute campaign video they showed, were almost messianic. Very much about all that Penn is uniquely poised to do to help solve the world's problems, and how this campaign can make that happen.</p>

<p>Article from today's Philadelphia Inquirer:</p>

<p>
[quote]
Penn launches its biggest fund drive</p>

<p>By Susan Snyder
Inquirer Staff Writer</p>

<p>The University of Pennsylvania yesterday announced a $3.5 billion fund-raising campaign - its largest ever - joining several other Ivy League institutions already well into the multibillion-dollar arena.</p>

<p>It's not as large as Stanford University's record $4.3 billion campaign, announced last year, but is much larger than Penn's previous formal campaign, which ended in 1994 and brought in $1.5 billion.</p>

<p>Thousands of students, alumni, faculty and staff crowded the West Philadelphia campus last night for the ceremonial announcement - which coincided with homecoming weekend - of the five-year campaign.</p>

<p>"We are seizing this moment, Penn's moment, the kind of seminal moment that comes along only once in a century," Penn president Amy Gutmann told the crowd from the stage, flanked by blue "Making History" banners.</p>

<p>The money will go toward increased financial aid, 18 new "integrated" professorships that bridge disciplines within the university, and new buildings and green space, continuing the university's expansion from University City toward Center City.</p>

<p>Gutmann said the university already had raised 43 percent of the goal in the two years of the "quiet phase" of the campaign, better than the norm for such lucrative efforts, national experts say.</p>

<p>It signals yet another positive economic development for Penn, which last month announced that its endowment for fiscal 2007 had grown more than 20 percent, to $6.6 billion. The endowment had increased 21.2 percent the previous year.</p>

<p>Gutmann expects the campaign to raise Penn's annual giving to a level that will continue after the fund-raising effort ends in 2012, she said.</p>

<p>"I don't think we'll ever want to ramp back," she said in an interview. "The pride that Penn alumni now take in Penn is a pride that is a consequence of increased momentum, and we're just going to have to continue it."</p>

<p>Staff members are applauding the efforts. Gutmann has promoted an "excellence to eminence" platform, said Larry Gladney, a physics and astronomy professor and chair of the faculty senate.</p>

<p>"When you get to eminence, you certainly wouldn't want to regress after the effort has been spent to get that far," he said.</p>

<p>Some students at the event, which offered free burgers, salad, drinks and other refreshments, were unsure what it all meant.</p>

<p>Alex Moy, 26, a graduate student from New York, heard there was "a big party on campus" and checked it out.</p>

<p>"It's a great cause, but at the same time, it felt a little overblown in some ways," said Maria Davydenko, 18, a freshman from Alaska.</p>

<p>Others favored the effort.</p>

<p>"If it accomplishes its goals, it's an exciting thing for the institution," said Gideon Spitzer, 19, a freshman from Los Angeles.</p>

<p>Gutmann soon will begin promoting the campaign on a worldwide tour of cities where large numbers of alumni are based, such as London, Hong Kong, New York, Los Angeles, Miami and Chicago. Alumni account for about 38 percent of the money Penn raises; the national average is 30 percent.</p>

<p>While universities forever are raising money, a campaign renews interest in giving and almost certainly raises the level of annual donations.</p>

<p>"A campaign is really just trying to rachet up giving to a somewhat higher level," said Ronald G. Ehrenberg, director of the Cornell Higher Education Research Institute at Cornell University.</p>

<p>While Penn officials expect an increase in annual giving, they declined to speculate on how much. In fiscal 2006, the university received $409.4 million in total support, fourth-highest among higher-education institutions in the country, according to the Chronicle of Higher Education.</p>

<p>In the Philadelphia region, other major universities also have launched fund-raising campaigns recently. Temple University announced the first comprehensive campaign in its history, seeking $350 million - $253 million of which already has been collected. And St. Joseph's University said it aimed to raise $150 million, with $90 million already taken in.</p>

<p>In the Ivy League, Columbia and Cornell announced $4 billion efforts last year, Yale launched a $3 billion one around the same time, and the buzz, according to the Chronicle, is that Harvard may be preparing to announce a $5 billion drive, taking the record from Stanford.</p>

<p>"For all of these institutions, what they've come to realize is the costs within higher education are going up far more quickly than the cost of living, and philanthropy is one of the main sources of support to improve their academic programs," said Bruce McClintock, chair of Marts & Lundy Inc., a fund-raising consulting company in New Jersey.</p>

<p>Penn didn't try to steal Stanford's crown.</p>

<p>"This is less about a big number and is really about the [university's) priorities," said John Zeller, vice president for development and alumni relations.</p>

<p>Half the money will go toward the university's endowment, which will help with new faculty and research and expanded financial aid to undergraduate, graduate and professional students. About 38 percent of students receive financial aid from Penn based on need.</p>

<p>Five of the 18 new professors, who bridge two disciplines, already have been hired, including former IBM standout Christopher B. Murray, known for bringing many patents to market. Murray has a joint appointment to the School of Arts and Sciences and the School of Engineering and Applied Science. A cultural anthropologist and documentary filmmaker, a biomedical ethicist, a psychologist and neuroscientist, and a medical anthropologist are the others with joint appointments.</p>

<p>"It's terrific for the kind of university that we want to increasingly be, which is one that shows how you put knowledge into practice," Gutmann said. "All of these scholars work by integrating disciplines."</p>

<p>The university has increased the number of students from low-income families in the last two years. The number of admitted freshman receiving full financial aid has risen from 86 to 155. The university gives grants rather than loans to students from families with income below $60,000 to help cover the $46,124 cost of tuition, fees, and room and board. This school year, the university is spending $93.5 million on undergraduate financial aid.</p>

<p>Some of the money will fund new buildings and recreational space under the university's 30-year master plan. A new dormitory, a proton-therapy center, a nanoscience and technology building, a neural and behavioral science building, and the Perelman Center for Advanced Medicine will be aided by the campaign. The music building also will get renovations.</p>

<p>The last quarter of the money raised will be for immediate use in improving general operations.

[/quote]
</p>

<p><a href="http://www.philly.com/philly/news/local/20071021_Penn_launches_its_biggest_fund_drive.html%5B/url%5D"&gt;http://www.philly.com/philly/news/local/20071021_Penn_launches_its_biggest_fund_drive.html&lt;/a&gt;&lt;/p>

<p>CAPITAL CAMPAIGN MILESTONE</p>

<p>Just a bit of a capital campaign milestone today: according to the campaign web site, the $2 billion mark has now been crossed ($2.01 billion raised to date):</p>

<p>Creating</a> A New Kind of University | Penn : Making History</p>

<p>And that's with 4 years still to go in the campaign!</p>

<p>Looks like an upward adjustment of the original $3.5 billion goal is likely to occur at least once before the end of those 4 years. :)</p>

<p>Yay, go Amy! =D</p>

<p>ANOTHER CAPITAL CAMPAIGN MILESTONE</p>

<p>Just resuscitating this thread, as I have in the past, to commemorate another Making History capital campaign milestone–the $3 billion mark has now been crossed:</p>

<p>[Penn’s</a> Making History Campaign Reaches an Inspiring $3 Billion Milestone | Penn : Making History](<a href=“http://www.makinghistory.upenn.edu/node/736]Penn’s”>http://www.makinghistory.upenn.edu/node/736)</p>

<p>And there are almost 2 years left to reach–and hopefully exceed–the $3.5 billion goal. </p>

<p>Be sure to watch the cool new video. :)</p>