The University of Rhode Island has been making a difference in the world for over a century. In order to continue this tradition of excellence, URI has launched the leadership phase of its second major comprehensive Capital Campaign.

Today, no major university—public or private—can hope to maintain its prominence and serve its constituencies without combined public and private resources. To this end, URI seeks at least $100 million to provide funding for the things that distinguish great universities, including outstanding faculty, scholarships, cutting-edge academic and research initiatives, and state-of-the-art facilities.

How much does URI expect to raise during this campaign? The University has set a goal of raising at least $100 million in campaign gift commitments by December 31, 2010.

What are the campaign’s featured projects and initiatives?

• $25 million to endow undergraduate scholarships and graduate fellowships

• $20 million to endow faculty chairs and professorships

• $15 million to endow academic enterprise funds and the Library

• $20 million for new facilities

• $10 million for athletics

• $10 million for the Fund for URI

URI receives funds from the state budget; therefore, why does the University need private gifts? The State of Rhode Island contributes just 14 percent of URI’s operating budget, compared with 24 percent a decade ago.

To help make up this shortfall, URI has increased tuition an average of 7.5 percent each year over the past five years. These increases have made it more challenging for students with limited financial resources to pursue URI degrees.

URI competes with other leading private and public universities for the very best faculty and, therefore, must have the financial resources to compete successfully.
While the State of Rhode Island provides funding for the great majority of URI’s new facilities, private gifts enhance these facilities and help provide URI with a competitive edge.

Why is URI launching a new campaign now? For the past 10 years, the University has been restoring and revitalizing campus buildings, including constructing the Ryan Center, a premier athletics and community venue; renovating historic Green Hall; and transforming Ballentine Hall, home of the College of Business Administration. All three campaigns were successful because of combined private and public support. Now, URI must focus on adding substantially to its endowments that support students, faculty, academic programs, and the Library—endowments that are critical to URI’s long-term strength, vitality, and reputation.

What exactly is an endowment? An endowment is a fund that lasts in perpetuity for the benefit of URI. The principal remains invested and only income earned from the investment is used to finance scholarships, faculty chairs, academic programming, or other institutional needs.

Colleges and universities nationwide typically distribute endowment earnings annually in the range of four to five percent of the endowment’s market value. Earnings beyond the four to five percent are used to grow the endowment’s market value to offset inflation.

What is the market value of URI’s endowment? The market value of URI’s endowment as of March 31, 2007 was $84.4 million.

How will endowments benefit undergraduate students? Approximately 86 percent of incoming freshmen in 2005 relied on loans to pursue their education. The cost of a college education continues to grow. By increasing the number of endowed scholarships, URI can help keep the higher education door open for students struggling to make ends meet. Scholarships can also help URI compete for academically talented students who are being aggressively recruited by other colleges and universities.

What benefits do endowments provide for graduate students? Fellowships play an important role in recruiting top graduate students who work with URI professors on leading-edge research projects. For URI to be competitive in recruiting these students, we must offer competitive graduate fellowships that cover tuition and provide monthly stipends. Teaching and research conducted by these graduate students add to the body of new knowledge in a broad array of disciplines and greatly enhance URI’s scholarly reputation.

What are endowed chairs and professorships? Why are they important in this campaign? An endowed chair or professorship is a faculty position created for a nationally or internationally distinguished professor. Endowed chairs and professorships help universities attract, recruit, and retain distinguished scholars and researchers. These leaders create academic excitement and bring innovation to the campus and classroom. They also bring prestige and national attention to the University. URI will create additional endowed chairs and professorships in numerous disciplines, as well as interdisciplinary ones that bridge several academic disciplines.

Why is $20 million being targeted for facilities? Students and faculty evaluate a university’s facilities when responding to admission and employment offers. URI must have state-of-the-art facilities to meet their expectations.

• Student Wellness Center The University will create a Wellness Center that will provide an on-campus space for students to gather, exercise, revitalize, and relax.

   

• International Center for Students and Scholars This Center will provide a “home” for international students and professors who come to URI to study, teach, and conduct research. Students and faculty from all nationalities will use the Center to share and learn about each others’ cultures.

   

• The Ocean Exploration Center and Pell Marine Sciences Library Renowned undersea explorer Bob Ballard heads the Center at the Graduate School of Oceanography. With cutting-edge equipment and technology funded through the campaign, the Center will be to underwater investigations what Houston is to space exploration. The distinguished Pell Library will be expanded and reconfigured to offer state-of-the-art information resources.

   

• The Center for Biotechnology and Life Sciences The exciting new Center will enhance URI professors’ and students’ leading-edge research in a wide range of life science areas, including human diseases, plants, animals, and the environment. The Center will also be a principal catalyst for converting new knowledge into new businesses and new, high-paying job opportunities in the biotechnology sector.

   

• The New Pharmacy Building The College of Pharmacy is currently housed in Fogarty Hall, which was completed in 1964 when the pharmacy program had just 150 students. With enrollment now in excess of 580 students, the college needs a new building to accommodate its growing student body. State-of-the-art facilities in the new building will ensure that the program and its graduates stay competitive in the growing field of pharmacy.

Will a gift to the Fund for URI, formerly known as the Annual Fund, be considered a part of the campaign? Yes. The University has set a $10 million goal for the Fund for URI. Annual giving is the bedrock on which all other fundraising efforts rest. Alumni and other donors will be asked to make five-year commitments to the Fund for URI in addition to making special gifts in support of featured campaign projects and initiatives.

Will gifts to athletics be included in the campaign? Yes. The campaign goal for athletic giving is $10 million, which includes gifts to the Rhode Island Rams Athletic Association.

Will other gifts to URI be included in the campaign? Yes. All gifts, including gifts designated by donors for support of specific academic departments, technology and equipment upgrades, and student life programs will be included.

What is the duration of the campaign? URI kicked off the public phase of the campaign in October 2007, having already received commitments of $54 million in leadership gifts. The campaign is scheduled to conclude in 2010.