The College's Will to Excel capital campaign has surpassed its original goal of $425 million with less than one year to go before it ends, according to Vice President of Development and Alumni Relations Stan Colla.
Last October, the directors of the campaign decided to increase the goal of the campaign from $425 million to $500 million.
While official figures for the end of the fiscal year have not yet been compiled, Colla estimated the total donations now stand at $427 million.
"We will be in excess of $80 million for the this fiscal year," Colla said. "We will continue to focus and stress giving -- there is still room for us to make headway."
Colla said the original goal was increased because the College had the potential to raise the extra capital by the deadline.
The deadline for the campaign is June 1, 1996.
But Director of Development and Publications John DeGange said that the campaign may extend beyond its deadline depending on the decision of the campaign directors, who will meet in the fall to discuss the closing date of the campaign.
The public phase ofthe campaign began October 8, 1991 and could continue until October 1996, DeGange said.
Colla said College President James Freedman remarked to Dean of the Faculty James Wright that he wanted the campaign to reach $425 million by the time he returned from his six-month sabbatical. Freedman returned to the College July 1.
"That was an important goal for President Freedman and we did accomplish that," he said.
Colla said the campaign will not change its strategy to reach more donors but said there are still many alumni to contact.
"We are making sure we reach all possible donors interested in participating in this endeavor," he said.
The funds generated from the campaign are primarily set aside for the College's various endowments and capital improvements, DeGange said.
The goal for the endowment for arts and sciences is $203 million, with part of the fund going toward endowed professorships and support for faculty and the new curriculum, he said.
According to DeGange, $40 million has been allocated for the maintenance of the College's need-blind admissions policy. The campaign has raised between 75 and 80 percent of the financial aid revenue, he said.
With the end of the campaign drawing nearer, Colla said it is unlikely the College will immediately launch a new capital campaign.
"We need to continue assessing the special needs of the College and going out and asking people for support," he said.
"I think the College has gotten accustomed to this level of donations," he added.
DeGange said support for the College has dramatically increased in the last few years and attributed the increased donations to enthusiastic alumni and parents.
"The success of this campaign is the result of the loyalty and spirit of the alumni and parents of this institution," DeGange said.
