The Campaign for TCU will reach its goal of $250 million ahead of schedule, Chancellor Victor Boschini said Tuesday at the annual University Convocation.
So far, the campaign has raised about $180 million, 72 percent of its $250 million target goal, with only 45 percent of the campaign period elapsed, Boschini said.
Don Whelan, vice chancellor for university advancement, said momentum created by students, athletics and the Commons project has been a large factor in the campaign’s success.
“Clearly we’re ahead of schedule in overall dollars,” Whelan said.
Currently, about half of the campaign’s donations have been allocated to facilities, Whelan said. While the majority of those facility contributions were directed toward completed buildings, a number of commitments have been made toward buildings under construction, such as Scharbauer Hall, he said.
Even though donors direct where their gift goes, Whelan said he hopes there will be more of a balance in donation distribution by the conclusion of the campaign.
Boschini said $65 million of the campaign’s total will be for scholarships, including academic scholarships and study abroad programs. He said $60 million will be allocated for faculty research grants and salaries.
The campaign is projected to secure $225 million by the end of the fiscal year, which ends in May 2009, Whelan said.
“There will be some discussion this year on whether we increase our goal or keep the goal at $250 million and raise far beyond that amount,” Whelan said.