The University of Michigan has scripted history by raising $5 billion in the fundraising campaign, becoming the first public university to raise such an amount.
The university announced on Thursday that under its Victors for Michigan campaign the university raised the amount from more than 382,000 donors.
Around 94 percent of total donors contributed less than $5,000 for the campaign. Nearly 10,500 Michigan students also donated $2.3 million for the campaign.
“The success of Victors for Michigan is further evidence of the power of the University of Michigan family, whose generosity makes excellence possible across the breadth of our three campuses and Michigan Medicine,” U-M President Mark Schlissel said.
“I also thank President Emerita Mary Sue Coleman, who set a bold goal when she successfully launched the campaign publicly in 2013, and the members of our Board of Regents, whose enthusiastic support and leadership helped us reach this historic achievement.”
It also includes $1.1 billion for student support, out of which majority of the amount will go towards scholarships and fellowships helping more than two-thirds of its 46,000 students on the Ann Arbor campus.
An amount of $1.4 billion will be spent on education and research at Michigan Medicine which provides treatment to more than 2.3 million people every year.
“It has been my honor and privilege to bring people together to support the amazing work happening at U-M. I’m excited to see how much more impact we can create in the next three months,” said Rich Rogel, chair of the Global Student Support committee.
The Victors Campaign was launched by the university in 2013 with a goal of raising $4 billion which was achieved in April 2017. With three months remaining to conclude the campaign, the university to expecting to break more records.