EAST LANSING, MICH. - Michigan State University's latest capital campaign has surpassed its $1.5 billion fundraising goal more than a year ahead of schedule.
That doesn't mean it’s done collecting.
More than 230,000 donors have contributed so far to MSU’s Empower Extraordinary campaign, the public phase of which launched in 2014 with a $25 million challenge grant from Eli and Edythe Broad.
As part of that grant, the Broad’s pledged to give $1 for every $5 raised up to $10 million in support of a new, $60 million addition to the Eli Broad College of Business. MSU has raised more than $32 million so far for the donor-funded pavilion.
A groundbreaking ceremony for the pavilion is scheduled for 1:30 p.m. today.
“We are grateful for the support of alumni, partners and friends who are stepping up at a critical time to maintain MSU’s commitment to being accessible to all deserving students and to building an even more vibrant community that fosters innovation and discovery to shape a better and stronger tomorrow,” MSU President Lou Anna Simon said in a news release.
MSU alumni have contributed 36% of the donations so far, according to MSU.
A portion of the money has already gone toward some 1,200 new scholarship funds. MSU plans to create a total 3,000 new scholarships through the campaign and to double the number of endowed faculty positions.
The fundraising project is set to conclude at the end of 2018.
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© 2017 Lansing State Journal