Furman raises more than $400M in fundraising campaign - FOX Carolina 21

Furman raises more than $400M in fundraising campaign

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Furman University's iconic clock tower. (File/FOX Carolina) Furman University's iconic clock tower. (File/FOX Carolina)
TRAVELERS REST, SC (FOX Carolina) -

For nearly 10 years, Furman University has been raising money as part of a capital campaign that has come to a close - exceeding the school's $400 million goal.

The "Because Furman Matters" campaign was launched in July 2004 and at its close, the efforts brought in a total of $406 million by Dec. 31.

It was the largest fundraising campaign ever launched by a private college in South Carolina and was one of the largest undertaken by any liberal arts college nationwide.

While the campaign began in 2004, it went public in 2007, bringing in an initial $225 million in commitments.

The majority of the money raised was designated for academic scholarships, programs and professorships. Much of the money was invested, growing the school's endowment to a market value of $623 million as of November 2013, up from $380 million in early 2004. The investment's earnings provide annual support for the university.

Other portions have supported building projects like the Charles H. Townes Science Center, Herring Center for Continuing Education, the Trone Student Center renovation and the Pearce-Horton Football Complex.

In all, 27,250 alumni, parents, faculty, staff and friends of the university made gifts to the campaign, including 55 donations of $1 million or more. About 78 percent of Furman alumni participated and 81.2 percent of the faculty and staff participated.

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