Carolina raises $2.38 billion

CHAPEL HILL, N.C. – The University of North Carolina at Chapel Hill has concluded its latest fundraising effort, bringing in $2.38 billion and joining the ranks of mega-campaigns.

The effort was launched in 1999 with a $1.8 billion goal, which was increased to $2 billion in 2005. The campaign officially concluded at the end of 2007.

The school says the final tally of $2.38 billion places it fifth in the U.S. in completed campaigns, and first among schools in the South.

The largest gift of the campaign, which drew 194,000 donors, was a $69.9 million commitment from the William R. Kenan Jr. Charitable Trust and related Kenan family members and groups.

The campaign will fund almost $420 million for faculty, including 208 new endowed professorships.

Another $345.3 million for students will create 577 new scholarships and 196 new fellowships, while $579.4 million will go to research, $664.8 million will fund strategic initiatives and $185 million will fund facilities.

Carolina alumni donated more than one in three dollars raised, while almost four in 10 dollars came from corporations and foundations, and the remainder was contributed by other individuals and organizations.

Paul Fulton, a Carolina trustee and former dean of the Kenan-Flagler Business School, served as co-chair of the campaign’s steering committee, along with Charlie Shaffer, a retired attorney from Atlanta, and Mike Overlock, a senior director for Goldman Sachs from Greenwich, Conn.

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