Fund-raising Campaign in Business School History: Over $445 Million
at Campaign's Completion
School recently announced the successful completion of the Campaign for
Sustained Leadership, a $425 million fundraising initiative, launched
in June 1996, and completed in June 2003. A total of $445,774,603
was raised, completing the largest campaign in business school history.
The original campaign goal of $350 million was raised to $425 million
following a successful "quiet phase."
In addition to the participation
of 23,161 donors in the campaign, 86 percent of the School's
faculty contributed more than $750,000, and a record 98 percent
of the MBA Class of 2003--757 individuals from 59 countries--gave
nearly half a million dollars for an unrestricted class gift to
The Wharton Fund. The 98 percent participation rate is the highest
for any business school of comparable size.
"What I'm really
proud about is that this was a community effort," said Dr.
Patrick Harker, dean of the Wharton School. "The alumni stepping
forward, the students with the class gifts, and the faculty felt
so committed to the School that they gave back. That is the most
heartwarming part, how the entire community came together and made
this a success."
Campaign highlights include:
Raised total of $445,774,603
$143.4M for facilities
Built Jon M. Huntsman
Hall, a world-class 324,000-square-foot educational facility
$127.2M for academic
Created six research
centers and programs, including the Jay H. Baker Retailing Initiative;
the William and Phyllis Mack Center for Technological Innovation;
the Carol and Lawrence Zicklin Center for Business Ethics Research;
the Samuel Zell and Robert Lurie Real Estate Center; the Alfred
P. West Jr. Learning Lab and the Goergen Entrepreneurial Management
$84.4M for faculty
support and research
Created 26 endowed professorships
$47.2M for student
Created 29 endowed MBA
scholarships and fellowships (16 term)
Created 145 endowed
Undergraduate scholarships (12 term)
$43.5M for unrestricted
and other gifts
Launched Wharton West
in San Francisco
Created Alliance with
"A good campaign
raises a lot of money; a great campaign transforms an institution,"
said Steve Oliveira, associate dean for External Affairs. "This
campaign has transformed Wharton, and it succeeded because of the
broad participation of the whole community, with gifts large and
small. It was this level of grassroots enthusiasm and energy that
allowed Wharton to defy gravity' by raising the most
funds in its history during one of the most challenging economic
periods in recent memory. This momentum across the entire community
was so great that that we received $15 million during the last 10
days of the campaign alone--with only two gifts above $1 million.
This was a watershed moment for the School."
Thirty-five percent of
the dollars raised came from MBA alumni, which was the highest participation
rate in the School's history. Thirty-two percent came from
undergraduate alumni, 18 percent from corporations and foundations,
and 15 percent from other individuals. The largest single gift of
the campaign and largest in school history--$40M--came from
Wharton Board of Overseers' Chairman Jon M. Huntsman, a 1959
graduate of Wharton's Undergraduate Program, and chairman and
CEO of the Huntsman Corporation.
As part of the Campaign,
Wharton Connect alumni events were initiated in 2001 to engage alumni
around the world. Fifty such events were held in the past two years
in cities across four continents.
"The campaign has
enabled us to continue to fulfill our mission--to create the
future business leaders of the world, with facilities, faculty,
and student support--not only to reach out to the world but
to enable the world to come to Wharton and study," Dr. Harker
said. "One of the great things we accomplished in the campaign
beyond the financial support, probably the most important thing,
was reconnecting to our alumni around the world and getting them
involved in the life of the School. That has been the most rewarding
part of the campaign, seeing city by city the alumni getting reenergized
Almanac, Vol. 50, No. 8,