Kent State Hits $250 Million Centennial Campaign Goal

An $8 million gift from a alumnus has put the Centennial Campaign over its $250 million goal 10 months ahead of schedule. But the fundraising momentum set in motion last year will continue through next June as originally planned.

Gene Finn, vice president for Institutional Advancement at Kent State, said Kent State Athletic Director Joel Nielsen “was instrumental in closing the ($8 million) gift” from an alumnus in California.

The donation “is intended for the basketball program and we plan to make a significant announcement about the commitment during the season,” Finn said.

Alan Ashby, assistant athletic director for communications, said his department cannot yet comment on specifics regarding the multimillion-dollar donation.

“We’re in communication with the donor and we’re working on the details,” Ashby said. “This is a truly transformative gift that will help shape the future of our basketball program and our department for many years.”

Finn said the Centennial Campaign has had more than 85,000 donors contributing gifts both large and small. The campaign’s purpose is raising funds to support scholarships and other institutional advancement goals.

“Although we’ve reached the initial goal, the campaign will remain active until June 30, 2012, to ensure that the momentum that we’ve built in the last few years continues to bring in much-needed resources for our students and faculty,” Finn said.

Kent State had its best fundraising year on record – $42.1 million – in the fiscal year that ended this past June. That beat the university’s 2010 record of $39.9 million.

“That is a direct result of the campaign and the effort that our staff has put in reaching out to our alumni and friends,” Finn said.

The average alumni gift has grown from about $750 in 2007 to $1,250 in 2011, which Finn said mirrors a national trend of larger gifts from fewer donors.

“But I think our increase is a credit to our emphasis on more one-on-one contact with our alumni. We spend more time meeting with alumni and talking about the needs of our students, which tends to lead to larger commitments. I would say this is one of the most positive developments of the Centennial Campaign,” Finn said.

Donors pledged $6.4 million to support student scholarships this past year, including 19 commitments of at least $100,000, according to the university. Since the start of the Centennial Campaign, Kent State has raised $36.8 million to support new and to expand existing scholarships.

Based on how much has been raised annually the past few years, Finn anticipates hitting the $280 million mark by the campaign’s close next summer. Then it will be time to party.

“I expect that we will be significantly over goal by June 30 and we are planning a campuswide celebration for the fall of 2012 to recognize our top donors to the campaign and highlight the many new endowments that were established during this effort,” he said.