Campaign for MIT

This sixth year of the Campaign for MIT was marked both by celebration and challenge. After celebrating the unprecedented success of reaching the original $1.5 billion goal two years early, MIT and Resource Development raised the goal to $2 billion, committing an additional 12 to 18 months to raise an additional $500 million for key areas. While continuing to raise private support for the fundamental priorities established at the outset of this campaign, the increased goal emphasized support in the following areas: $150 million for capital construction, $150 million for graduate fellowships, $100 million for undergraduate support, and $100 million for faculty life.

With these additions to our fundraising goals, progress across campaign priorities stands at:

Despite international and economic uncertainty, new gifts and new pledges to the campaign in FY2003 remained above the $200 million mark at $202 million, a decrease of 22 percent over last year. Senior officers, staff, and volunteers continued a high level of engagement with donors and potential donors and report that while interest in MIT remains strong, prospective donors will be able to increase their giving when the economy rebounds. Our ongoing outreach combined with the expressed good will from many of our constituents positions MIT well for when the economy recovers and forms a strong foundation for renewed support in the years ahead.

Stephen A. Dare

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