Donations for faculty positions projected to reach $49 million
The four-year-old fundraising initiative "The Campaign for Brandeis," has raised 83 percent of its $470 million goal for 2006, according to the campaign's vice president, Susan Krinsky. Though Brandeis hopes to raise $49 million for endowments and professors' salaries, Dean of Arts and Sciences Adam Jaffe said his recent proposals to the curriculum already included the projected fundraising figures. (See Related Article above)
According to Krinsky, the University has already raised, in cash and pledges, $38 million for this particular initiative.
"In general, the projected money for endowed chairs is already factored into the plan," Jaffe said. "If we are successful in raising more money than projected, surplus money would be available for additional programs or changes to the plan. If we raise more money than projected, we can do better than the current plan."
The University has raised $71 million of a projected $100 million for undergraduate scholarships. And while the campaign has raised $33 million for new residence halls and other aspects of campus life-exceeding its goal by $3 million in this category-$27 million went toward construction of the Village.
Krinsky said that raising money at Brandeis is a very unique task. She said people usually write their first big philanthropic check between the ages of 68 and 72. But she said the average Brandeis alumnus is 41-a number much lower than older universities.
Krinsky said that Brandeis' first classes were small and produced many scholars who did not pursue high-income professions. She said that, as a result, there are many fewer alumni donors and many more "friends," or donors who did not attend Brandeis.
"This is the first time in Brandeis history that 18 alumni have made gifts of $1 million or more," Krinsky said.
According to Krinsky, 60 percent of all donations come from "friends," 19 percent come from alumni, 15 percent come from parents and six percent come from corporations and foundations.
Krinsky said that Brandeis may bring in money much faster in the future. The University will receive undisclosed amounts of money from several hundred donors who have already declared that the University is a beneficiary in their wills.
According to Krinsky, there are a number of ways in which donors can contribute significantly to the endowment, including buildings, scholarships, research grants, and professorships. The cost of endowing a full professorship is $3 to $3.5 million.
"We sometimes get situations where a donor wants to endow a chair for a specific purpose," Jaffe said. "We then have to ask ourselves if this is someone we want and don't currently have.
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