Rutgers Reaches Billion Dollar Goal
By: Katie Ghilino
After more than seven years of fundraising, Rutgers University exceeded its goal of raising $1 billion for its Our Rutgers, Our Future campaign which will be used to aid the University in many different venues.
In an email to the Rutgers community, university President Robert Barchi said the campaign had raised $1,037,056,700 when it formally ended on Dec. 31, 2014. In the email, Barchi detailed where a good portion of the funds would go. Over than 100 thousand people donated with more than half of them being alumni. The university raised $310 million in newly endowed funds and $412.6 million will go to supporting faculty and current research institutes on campus along with supporting new areas of research. A portion of that sum will also go to the creation of 29 new endowed chairs. Another $286.1 million will go towards the creation of more than 400 new endowed scholarships and fellowships for students.
“The funds you have helped us raise will enable Rutgers to act on the vision expressed in our University Strategic Plan, a vision developed by you and our entire university community—faculty, students, staff, alumni, and friends—for what Rutgers is and what it can become,” Barchi said.
While some Rutgers students were excited to hear about the campaign, along with the money it raised, many had never heard about it. Aaron Farrar, a senior at the School of Communication and Information, had no idea the campaign was going on.
“It was news to me. I actually had to look it up and do some research on it,” he said
Rutgers senior Jill Sands had two ideas as to where the money needs to be spent.
“Definitely add buses because they are crowded all the time, and I’ve been saying since freshman year, even though we have state of the art facilities, gyms need to be bigger,” she said.
Campus facilities will be receiving $132.7 million for the construction of new buildings and the purchase of new state-of-the-art equipment, Barchi said
According to The Daily Targum, more than $100 million was raised for the athletics department. Sands believes that is more money than the department needs.
“I don’t know how much they currently receive,” she said. “But that just seems like an insane amount of money.”
Farrar disagreed with this opinion, and stated the importance of the athletic department at Rutgers University.
“Athletics brings so much recognition to the school and if we want to be a prominent force in the Big Ten, we need to have facilities that are on par with those of other elite Big Ten schools.”
Barchi closed out his email by saying the Rutgers community should take pride in this achievement.
“This is a singular moment in Rutgers’ history, and I thank you for your support. Because of you, our future is very bright.”