Billions

UCLA has raised $5.49 billion in one of the nation’s most successful public university fundraising campaigns, as an “arms race” heats up throughout the country for private philanthropy to offset state funding shortfalls. The final UCLA tally, announced Wednesday by campus officials, surpassed its initial goal by more than $1 billion after its public launch in 2014 to commemorate UCLA’s centennial anniversary this academic year. The funds will help support a range of initiatives at one of the nation’s leading public research universities, including student scholarships and support, endowed faculty chairs, research initiatives and building needs. “The primary goal of this effort was to let UCLA’s future eclipse even the greatest achievements of our past,” Chancellor Gene Block said. “This campaign, fueled by so many passionate supporters, provides the foundation we need to move into our second century with confidence.” The massive campaign reflects a growing national trend as more campuses launch larger and longer fundraising efforts in a scramble to find new sources of revenue for needs that state funding no longer fully supports...

Full story at https://www.latimes.com/california/story/2020-02-26/ucla-fundraising-billion-private-philanthropy