'Campaign for Bates' exceeds $100 million
Bates has passed the $100-million milestone in its fund-raising campaign, announced Vice President for College Advancement Victoria M. Devlin.
The $101 million in gifts and pledges through Jan. 31 is part of a six-year campaign to raise $120 million. Known as The Campaign for Bates: Endowing Our Values, the fund-raising drive will end June 30, 2006. The College’s last campaign ended in 1996 having raised $59.3 million against a $50 million goal.
“This is great news for Bates,” said Devlin. “We’ve reached a milestone thanks to a committed and passionate group of alumni, parents and friends. They understand how important Bates is in today’s world. We’re very grateful.”
Established through discussions among trustees, faculty, staff, students, alumni and parents, the $120-million campaign seeks $45 million in new endowment for financial aid; $20 million in new endowment to sustain academic quality; $10 million in new endowment that is unrestricted in purpose; $20 million for facility revitalization, including a new dining Commons; and increased annual giving to the Bates Fund, with a goal of $25 million over five years, to support the operations of the college.
Of the $101 million raised, Devlin pointed to two areas of success. “Donors have exceeded our academic goal, giving $21.2 million,” she said. “That sum includes five new endowed professorships. In many ways, our donors have eloquently underscored the notion that Bates’ reputation begins and ends with its great faculty.”
Increased giving during the campaign period has allowed Bates to accelerate its plans to increase faculty salaries, Devlin said. “We must raise our pay to be competitive with our peers, while at the same time managing escalating energy and health-care costs.”
Members of the Bates Board of Trustees have contributed more than $30 million during the campaign, far surpassing prior campaigns in dollars and participation. Trustee gifts endowed the new Harward Center for Community Partnerships, which celebrated its official opening Jan. 25-27.
“The initial gifts to the campaign came from our board,” Devlin noted. “All 40 members, plus each of Bates’ senior administrators, and a select group of alumni, parents and friends, stepped forward with gifts. As trustee Michael Bonney ’80 said at the time, ‘If we, who know and love Bates the best, can’t stretch to make this happen, who will?’”
Capital gifts totaling $9.2 million will enable the college to break ground over the summer and fall for a new $30-million dining commons, designed by Sasaki Associates Inc. of Watertown, Mass., and new residential housing, designed by Shepley Bulfinch Richardson and Abbott of Boston.
Tags: Bates Board of Trustees, Campaign for Bates, Endowing Our Values, fundraising, Vicki Devlin.