Adelphi celebrates $58.5M in funds raised
Adelphi University raised $58.5 million from alumni and other donors over the past five years -- exceeding its own projections -- to support more student scholarships, new buildings and faculty development, officials said.
A campuswide celebration is planned for Monday afternoon in the performing arts center.
"The completion of Adelphi's first-ever comprehensive fundraising campaign represents a significant milestone in the ongoing success story of the university. The philanthropic support has been transformative," Adelphi president Robert A. Scott said in an interview.
The school's financial success comes at a challenging time for fundraising, university officials said, and will help keep costs for students low while upgrading facilities on the Garden City campus.
About 16,000 donors gave to the university, Scott said.
More than $20 million has been earmarked for endowments for student aid. The school created 122 new merit and need-based scholarships. The current endowment is valued at $140 million, Scott said.
About $23 million will fund new buildings including the Center for Recreation and Sports, Performing Arts Center and Alice Brown Early Learning Center, and the complete renovation of the Woodruff Hall gymnasium, one of the campus' original three buildings.
The university launched the campaign in October 2007 with an initial fundraising goal of $56 million.
Earlier this year, financial executive Robert B. Willumstad gave the school $9.5 million, equaling a 2006 gift from alumna Carol A. Ammon, which had been the largest gift in the school's 116-year history.
"When you consider the economic circumstances that middle class people are in, the ability to offer scholarships and keep tuition low is significant," Willumstad said.