In first public year, Bates Campaign crests $190M
Commitments to the college exceeded $190 million in the first public year of the Bates Campaign. Co-chaired by Michael W. Bonney ’80, Geraldine M. FitzGerald ’75, and John D. Gillespie ’80, the multiyear campaign is the largest fundraising initiative in Bates history, with a comprehensive goal of $300 million.
Significant progress has been made in each of the campaign’s four priorities:
- $81 million toward a goal of $100 million for Driving Academic Excellence
- $36 million toward a goal of $75 million for Investing in Opportunity, which is primarily financial aid support
- $12 million toward a goal of $65 million for Catalyzing Student Success
- $46 million toward a goal of $60 million for Building Financial Sustainability, including all gifts to the Bates Fund
Among the highlights in 2018 was the public announcement of a $50 million commitment from the family foundation of Alison Grott Bonney ’80 and Michael Bonney ’80, chair of the Bates Board of Trustees and CEO and executive chairman of the Board of Directors of Kaleido Biosciences. The gift will anchor a new science center that promises to drive the evolution of science education at Bates, part of a multifaceted effort to optimize STEM teaching and research at the college.
Positive strides were also made toward the campaign objective of growing the college’s endowment. A total of $71 million has been pledged toward a goal of $160 million in new gifts to the endowment, providing growth that is critical to securing Bates’ long-term financial health.
As part of the endowment focus, anonymous donors pledged $5 million as a special challenge to stimulate gifts to establish endowed funds for financial aid. The challenge provided a dollar-for-dollar match to all new pledges between $50,000 and $250,000. To date, 50 families have taken advantage of the challenge and established new financial aid funds.
Annual giving is also a key component of the campaign. Thousands of donors have contributed $30 million to the Bates Fund since the campaign’s launch. Bates remains among the top U.S. liberal arts colleges in terms of alumni participation each year.
View the Report of Giving