Carolina First Aims for $1.8B Goal

Paul Fulton, co-chairman of the Carolina First steering committee, said Thursday that this goal will set the University apart in raising funds.

"This campaign could be the most important thing that happened to the University," said Matt Kupec, vice chancellor of University advancement.

Although $1.8 billion is the goal expected to be announced at 12:30 p.m. in McCorkle Place, Kupec and Fulton said they believe the campaign definitely will exceed that goal.

"We expect to raise $2 billion, but it is more realistic at this time to set it at about a billion eight," Fulton said earlier in the week.

Kupec said private funds could be a key factor in positioning UNC as the leading public university. The eight-year campaign will end July 1, 2007.

University of California-Los Angeles' ongoing $2.4 billion 10-year effort is the largest campaign at a public university.

"We are very fortunate at this university to have incredible support from the state, but in tough times there are a lot of strains," Kupec said. "We know we've got to step it up. ... The thing that can drive us to excellence is private money."

Since the campaign began it has averaged $22.3 million of committed funds each month. If the campaign averages only $20 million a month for its remainder, $1.99 billion will be raised by July 1, 2007.

The multiyear campaign began July 1, 1999, with an initial goal of at least $1.5 billion. Officials were originally going to announce the final goal last October, but after the events of Sept. 11, they decided to delay the announcement.

Fulton said that as the campaign goes on, it is likely the goal will be raised again. "It could increase, and we are looking to do that. We are all confident that the economy can bounce back," Fulton said.

After today Carolina First will attempt to target all UNC alumni for donations in its public phase. Since its quiet phase began, the campaign has raised $861 million, mainly by targeting large donors, said Speed Hallman, director of development communication.

Hallman said organizers took the extra time to reassess and refine the campaign strategy.

In fiscal year 2001-02 alone, Carolina First raised more than $180 million, a record for the University.

"I think the success of the campaign ... drives you to consider raising the goal," Kupec said. "Our goal is to get cash funds to $300 million a year. This is a big jump from 180. ... This is what we need to do to position Carolina as a leading public university."

Carolina First relies mainly on three traditional ways of raising funds. One-on-one interaction is the most effective method, followed by telephone solicitation and then direct mail. As the target base grows broader, the returns become smaller, officials said.

The campaign has received some contributions over the Internet but not a significant amount, Kupec said.

"That old adage, people give to people, is still true," Fulton said.

Kupec said the volunteers on the steering committee, who are located across the state and the nation, assist the campaign outside Chapel Hill. "These people are door-openers," Kupec said. "The passion our alumni have at this place is unlike any other university. It's amazing."

The University Editor can be reached at udesk@unc.edu.