LUBBOCK, Texas (AP) — The Texas Tech University System has reached the $1 billion fundraising mark in a campaign that began two years ago.
The Lubbock Avalanche-Journal (http://bit.ly/WVY4rh ) reported Saturday that university Chancellor Kent Hance celebrated the mark along with school officials and others Friday, saying the goal was reached a year ahead of schedule and during a recession.
The system, which includes Texas Tech, the university's health sciences center and Angelo State University, launched the Texas Tech Vision & Tradition campaign in 2010. The fundraising campaign is ongoing.
Kelly Overley, the system's vice chancellor for institutional advancement, said the campaign's success is due to donors and to those who did the fundraising.
"This campaign was audacious, it was bold and it was historic," she said. "This campaign will forever change the face of Texas Tech."
Reaching a $1 billion puts the university system in a small group. Fewer than 70 universities have raised $1 billion, the newspaper reported.
Donations have come from monthly and annual faculty and alumni contributions as well as multimillion-dollar endowments for faculty positions, buildings and programs — including the Rawls College of Business, football stadium expansions and an autism center.
At least $145 million was raised for scholarships.
The money came from 120,000 people in all 50 states and 39 countries, which Hance said shows the school is a "worldwide institution."
Information from: Lubbock Avalanche-Journal, http://www.lubbockonline.com