Kent State Sets $40 Million Fundraising Record

Like enrollment, dollar donations to keep rising.

The university set a fundraising record with $42.1 million private contributions made to Kent State to end the fiscal year last month.

In early June, Kent State President Lester Lefton told the university's trustees he expected to break last year's record of $39.9 million before the fiscal year ended June 30.

"Raising $40 million in probably the worst economic climate our country has been in in these past few years is really an extraordinary feat," Lefton said.

Last year's record beat the previous high-water mark, set in 2009, of $36.7 million.

Gene Finn, vice president for institutional advancement, told the Akron Beacon Journal the record is due in part to the eight extra fundraising staff members the university added in 2009.

"Those positions are just beginning to pay off," Finn told the Akron Beacon Journal.

The boosted fundraising efforts are part of the university's larger Centennial Campaign, which was launched to mark Kent State's centennial in 2010 with the goal of raising $250 million to support scholarships and other institutional advancement goals. The campaign total is now $239.4 million and is expected to exceed its $250 million goal by the campaign's end next year.

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 campaign, Kent State has raised $36.8 million to support new and to expand existing scholarships.

Kent State's record-breaking fundraising efforts have earned several awards, including the 2011 Educational Fundraising Award for Overall Improvement in the Public Research/Doctorial Institution category from the Council for the Advancement and Support of Education.

"This award is particularly significant because it is not selected by the arbitrary criteria of a panel of judges, but rather by the concrete statistics of our success,” Finn said. “The incredible growth of private support to Kent State is a testament to the loyalty of our alumni and friends, as well as the tremendous work of our staff."