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University of Iowa Foundation News Release

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April 29, 2004

UI Increases "Good. Better. Best. Iowa" Campaign Goal to $1 Billion

The University of Iowa will raise the goal of its "Good. Better. Best. Iowa" comprehensive fund-raising campaign from the current $850 million to $1 billion, UI President David J. Skorton announced today at a news conference.

Citing new opportunities, new priorities and a renewed commitment to giving Iowans the best university possible, Skorton said the decision to move to a $1 billion goal for the campaign, which runs through the end of 2005, was made in consultation with campaign volunteers and the staff and board of directors of the UI Foundation, which is coordinating the campaign on behalf of the university.

"We have set our sights on a truly unprecedented destination -- but that destination is not only a dollar goal," Skorton said. "This new goal is about what the campaign will allow this university to do -- for our students, our faculty and staff, for Iowans and people far beyond our borders.

"We're not just raising more dollars; we're raising our expectations and aspirations for the opportunities we can provide to our students and to the state of Iowa," he continued. "We want to make our great university the best it possibly can be -- and more valuable and more accessible to those who depend on us for the best in education, research, health care, economic development, cultural opportunities and so many other areas."

Also participating in the April 29 news conference were campaign co-chairs Mary Louise Petersen of Harlan, Iowa, and Marvin Pomerantz of Des Moines; UI College of Liberal Arts and Sciences Dean Linda Maxson; Lisa Quiroz, a sophomore pre-business student from Corpus Christi, Texas, and an Opportunity at Iowa scholar; and UI Foundation President Michael New. (Photo l to r: Peterson, Pomerantz, Maxson, New)

Skorton noted that "private-gift dollars cannot and should not take the place of state allocations," adding that the great majority of gifts are designated by donors for use in particular UI colleges or programs and for such purposes as scholarships, faculty support, facilities, or specific programs.

"Private gifts are crucial to help us build on the solid foundation of state funding; they enable us to create and enhance exceptional programs that will better serve our state and its changing needs," Skorton said.

To date the campaign, which began in 1999 and which held its public kickoff in June 2002, has received $730 million in gifts and gift commitments, New said. Progress toward the new dollar goal and the amount of campaign time period elapsed are both at approximately the three-fourths mark, he added.

" This elevated campaign goal is the right move for the UI at the right time," New said. "The need exists, the potential is there, the conditions are right. Achieving this goal is not a given; we have much work ahead of us. But we are excited and confident of success.

"Our confidence comes primarily from the incredible demonstration of generosity from the more than 104,000 campaign contributors who have supported the dreams and aspirations of the UI community, and of all who are served by the university," New continued. "We believe that these loyal alumni and friends, and others yet to step forward, will embrace this ambition to advance Iowa to the level of prominence it deserves."

The $150 million in new or expanded campaign priorities include:

--$30 million in additional funds for need-based student scholarships.

--$25 million for support of faculty throughout their career cycles, including the critical early- to mid-career period.

--$35 million in private gifts for the Kinnick Stadium renovation. (The remainder of revenue for this $86 million project will also come from private sources after the campaign counting period is ended and not from state appropriations or student tuition dollars.)

--$60 million for world-class UI centers and institutes.

Highlights of progress to date toward featured campaign goals include:

--Student support: $120 million raised toward new goal of $172 million.

--Faculty support: $100 million raised toward new goal of $214 million.

--Facilities support: Private funding completed on seven new UI facilities, providing more than 500,000 square feet of state-of-the-art classroom, lab and meeting space to UI students, faculty, staff and visitors. Fund raising is in progress for seven other projects (new construction and renovation).

--Programmatic support: $256 million raised toward new goal of $261 million.

--Unrestricted support: $11 million raised toward $30 million goal.

--Annual/sustaining support: $147 million raised toward $150 million goal.


NOTE TO REPORTERS/EDITORS:

For additional information on the Good. Better. Best. Iowa campaign, visit these web sites:

http://www.GoodBetterBestIowa.org (campaign web site)

http://www.uifoundation.org/campaign/facts/index.shtml (goals and progress)

http://www.uifoundation.org/news/2004/apr10.shtml (campaign "by the numbers")

PHOTOS:
High-resolution versions:
http://www.uifoundation.org/news/2004/images/mug-LindaMaxson-highrez.jpg
http://www.uifoundation.org/news/2004/images/mug-MichaelNew-highrez.jpg
http://www.uifoundation.org/news/2004/images/mug-MarvinPomerantz-highrez.jpg
http://www.uifoundation.org/news/2004/images/mug-MaryLouisePetersen-highrez.jpg
http://www.uifoundation.org/news/2004/images/mug-DavidSkorton-highrez.jpg

STORY SOURCE: UI Foundation, P.O. Box 4550, Iowa City, Iowa 52244

MEDIA CONTACT: Susan Shullaw, 319-335-3305, susan-shullaw@uiowa.edu