Clough unveils plans for capital campaign

Plans for Tech's next fundraising campaign were unveiled to the Faculty Executive Board at their Jan. 11 meeting in a presentation made by President Wayne Clough and Vice President of Development Barrett Carson.

While Tech continuously seeks donations and receives about $70 million a year on average, the capital campaign would provide a concentrated effort towards large fundraising goals.

Of the billion-dollar campaigns already underway at Tech's peer institutions, the dollar amounts range from $1 to $3 billion. According to Carson, no dollar amount has been officially set yet for Tech's campaign; however a $1 billion mark was identified in the presentation as the preliminary goal.

Upon being questioned on why the number was not set higher, Clough indicated that the low dollar amount was set as to not scare off donors.

While evaluations and planning began a year ago, and official gift accounting for the campaign already began last July, the campaign is still in the " quiet stage " during which the many details can be worked out.

According to Carson, the next stage of the campaign is to solicit ideas, goals or areas of improvement for which fundraising is needed. The first of such meetings took place Wednesday morning with the academic Deans.

According to Clough's presentation, in the end, all facets of the institute, from faculty to staff to students, will be asked for their opinions on what's needed most.

A large concern pointed out in the Faculty Executive Board was the increasing gap between Tech's annual spending and the funding it receives from the state. The indication of large tuition hikes to come also poses a growing need for need-based financial aid.

Faculty pay was another area brought up in the presentation, as Clough stated Tech's need to stay competitive in attracting and retaining top faculty members. New buildings and increases to Tech's endowment are also likely to be on the campaign's " wish list " of institute priorities.

According to Carson, anything is possible at this point, and he expects the campaign to touch all aspects of Tech, including research facilities, student life, athletics and scholarships.

A preliminary time line sets the public portion of the campaign to begin on June of 2007, lasting until December 2010.

A rollout period lies in between December 2006, the end of the quiet phase, and June 2007, allowing time for the plan to be presented to major donors across the country. Counting all the phases, the campaign will last roughly six and a half years.

Tech 's last capital campaign began with a goal of only $300 million, but ultimately raised $711.8 million over the course of five years. Since the end of that campaign in Dec 2000, Tech has already begun working to broaden the range of potential donors, and has identified over 6,000 alumni for the coming campaign.

Capitalizing on Tech's growing reputation, planners are reaching out to many foundations and corporations as well.

Many targeted donors are those who did not contribute in the last campaign, and planners are also hoping that an upswing in the national economy will also help increase charitable inclinations.

During the last campaign, 80 percent of the funding came from .01 percent of the donors. Likewise for this campaign, large donations made by individual entities are expected to make the majority of the funding.

The finalized proposal containing all the details of the campaign is slated to come out this June, in time for the annual meeting of the Georgia Tech Foundation.