Yale officially launched its largest-ever capital campaign on Saturday with the goal of raising $7 billion to support the university’s scientific and leadership efforts.
The fundraising campaign titled “For Humanity” will focus on five areas of science and engineering: data and computer science, neuroscience, inflammation science, planetary solutions, and quantum science and engineering.
During the event, President Peter Salovey explained how Yale, like several other schools across the country, has struggled financially during the COVID pandemic. To offset recent difficulties, donations from the fundraising campaign will support faculty and students and revive research facilities.
“We recognize that the kinds of facilities we need, in particular for the sciences and engineering, are expensive,” Salovey told Yale News. “We will be spending considerably more money on science and engineering than we have [in the past] in order to have the impact that we want to.”
The funding will also contribute to Yale’s social science research and help the university enact policies to fight climate change, combat racism, and promote public health.
The unpublicized phase of the campaign, which began in 2018, has already raised $3.5 billion — half of the campaign goal.
Yale is the latest in a string of colleges and universities to launch fundraisers after the coronavirus pandemic forced them to tighten their purse strings.
Last month, Southern Methodist University kicked off a $1.5 billion fundraising campaign to help more students fulfill their college dreams, support research, and boost athletics. The university also said it will devote a significant portion of donations to student scholarships.
The University of Pennsylvania also wrapped up a fundraiser last weekend, having exceeded its goal by raising $5.4 billion.