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UNC sets $1.8B goal

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The University of North Carolina at Chapel Hill has launched a $1.8 billion capital campaign that already has raised $866 million.

The comprehensive campaign, which began July 1, 1999, and runs through 2007, will include dollars raised through the school’s annual fund.

The campaign aims to raise $300 million for faculty support, $300 million for student support, $500 million for strategic academic initiatives, $500 million for research and $200 million for campus improvements.

The campaign, for example, aims to fund 200 new endowed professorships and 1,000 new undergraduate scholarships, and already has created 92 professorships and 267 scholarships.

The campaign has received $172 gifts of $1 million or more, with cash gifts totaling $535 million, and pledges totaling $331 million.

Campaign gifts have added $126 million to the university’s endowment, now totaling roughly $1 billion.

Big gifts include a $28 million commitment from the William R. Kenan Jr. Charitable Trust, William R. Kenan Fund and the Kenan family for professorships and the university’s science complex, and an anonymous $25 commitment to the School of Medicine to name a center for proteomics – part of the university’s genome sciences initiative – for the late Michael Hooker, who was the university’s chancellor.

UNC says its campaign is the second-largest ever by a public university, trailing only a $2.4 billion campaign by the University of California at Los Angeles.

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