Published by the MIT News Office at the Massachusetts Institute of Technology, Cambridge, Mass.

Campaign is on Target

$566.3 MILLION
Campaign is on Target

MIT's Campaign for the future is $100 million ahead of where it was a 
year ago and continues to be on target toward its $700 million goal, 
President Charles M. Vest reported at the February 20 faculty meeting.

The Campaign's original goal of $550 million was reached in late 
December, well before the original target date of June 1992. The goal 
was raised to $700 million last spring.

"In recent months we have been watching to see if the economic 
recession, the Middle East situation and the unsettled stock market 
would slow our success," President Vest said. Reporting figures prepared 
by Vice President and Treasurer Glenn P. Strehle, director of the 
Campaign, President Vest said: "I am pleased to tell you that the 
Campaign total now stands at $566.3 million, up $16 million since late 
December and $100 million ahead of where we were 12 months ago. While 
some of our donors have dropped their giving, so far this year we have 
been able to keep the Campaign total on target toward the new goal."

President Vest said that one of his highest priorities for the remainder 
of the Campaign is to increase the number of endowed faculty chairs. 
"Although the Campaign is on target toward its goal of 100 new endowed 
chairs, we only have chairs for about one-fourth of the faculty and many 
departments have a far lower proportion."

The president said that the role of the faculty has been essential to 
the success of the Campaign. "Many of you have met with donors at one of 
the 27 Campus Visits or other events. Some of you have been involved 
directly in soliciting gifts. I look forward to joining with many of you 
in these efforts in the time ahead," he said.