University of Massachusetts announces new capital campaign
AMHERST — A $300 million capital campaign timed to the 150th anniversary of the founding of the University of Massachusetts launched publicly Sunday.
The initiative, dubbed “UMass Rising,” would be the largest in the history of the university, expected to easily outpace the $130 million campaign that concluded in 2001.
Chancellor Kumble Subbaswamy said in a statement that the best universities need to adapt to be able to excel.
“With UMass Rising, we are redefining the future by focusing on innovation and impact in the way we teach students, conduct research, create a diverse and inclusive community and play a national role in fashioning a sustainable future,” Subbaswamy said.
So far, $183 million has been raised since the campaign officially commenced Jan. 1, 2010, including $13 million dedicated to athletic facilities.
Five priorities are part of the campaign:
• $55 million that would go toward merit- and need-based scholarships and support for graduate assistantships, study abroad programs and career assistance;
• $54 million for recruiting and retaining faculty and increasing the number of endowed chairs and professorships;
• $97 million to underwrite new and existing centers and institutes, research initiatives and technology programs;
• $54 million for buildings and infrastructure that support the university’s educational mission, including the renovation of the Old Chapel as a centerpiece of campus learning; and
• $40 million to support the annual fund that would expand and enrich programs across campus.
The campaign, expected to be complete June 30, 2016, is also seeking to build a stronger philanthropic tradition for the university.
The four campaign co-chairmen are Douglas Berthiaume, chairman, president and CEO of Waters Corp., Milford; Robert Epstein, president of Horizon Beverage Co., Avon; David Fubini, director at McKinsey & Company, Boston; and Eugene Isenberg, chairman emeritus of Nabors Industries Ltd., Houston.
The leadership also features four honorary alumni co-chairmen: entertainer Bill Cosby, attorney Ken Feinberg; former General Motors CEO Jack Smith; and former General Electric chairman and CEO Jack Welch.
Meanwhile, the Founders Week celebrations, which included Saturday’s inauguration of Subbaswamy, will conclude today with the cutting of a 150-pound birthday cake, in the shape of the Old Chapel, and the singing of Happy Birthday by the Minuteman Marching Band from 11 a.m. to 2 p.m. on the Goodell Hall lawn.
This event will also feature a T-shirt giveaway, appearance by Sam the Minuteman and football team members and a “green” lunch featuring locally produced foods including cole slaw, free-range chicken, veggie burgers and roasted vegetables.