Columbia Ups Campaign Target to $5 Billion

The economic downturn of the last two years has challenged many colleges completing multi-year fund-raising campaigns -- especially those that announced ambitious targets prior to the sharp drops on Wall Street in the fall of 2008. But Columbia University on Wednesday announced that it is about to meet its $4 billion target (early) and that it is extending the effort and upping the target to $5 billion. The campaign was originally supposed to close at the end of 2011, but the university has already raised $3.9 billion. The campaign is now aiming for $5 billion by the end of 2013.