Word: capitale
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Administrators will take into account the impact of last year’s recession on donors when determining fundraising goals, Faust said. But given the time elapsed since the last capital campaign, the University needs to move forward on a capital campaign despite recent economic turbulence, she added.
Capital campaigns for major non-profits typically span several years and begin securing donation pledges before the campaign is publicly launched, sometimes raising upwards of 40 percent of the campaign’s net commitments in the so-called “quiet phase” of fundraising. The University...
Harvard’s last capital campaign, which raised $2.6 billion ($3.2 billion in today’s dollars), ended nearly 10 years ago in 2001, but the University has repeatedly decided to postpone a new campaign in recent years.
According to Faust, major capital campaigns are beneficial for the University not only because they raise funds, but also because they force administrators to set priorities.
In the long term, capital campaigns also renew alumni bonds to Harvard through the course of the planning and organizational process, which leads to an increase in overall giving after the end of the campaign, according to Faust.