You have /5 articles left.
Sign up for a free account or log in.
Stanford University announced Monday that it raised $6.2 billion between October 2006 and Dec. 31, 2011, shattering the record for the largest university fund-raising campaign in history and exceeding the university's original goal of $4.3 billion. Before Stanford's announcement, Yale held the record for the largest fund-raising campaign on record, raising $3.881 billion between 2004 and July 2011. Stanford's announcement even exceeds the largest announced goal, $6 billion, which the University of Southern California announced in August.
The $6.2 billion will go to fund cross-disciplinary initiatives in every area of the university, including more than 130 new endowed faculty appointments and 360 new fellowships for graduate students. Many large campaigns include gifts that are paid out over time, so it's particularly noteworthy that more than 80 percent of campaign commitments have already been fulfilled. The university has set up a website detailing what the money will be used for.