Reed Fundraising Campaign Exceeds $200 Million Goal
Portland, Ore (January 29, 2013) – Reed College has successfully completed the largest comprehensive fundraising campaign in its 100-year history, receiving more than $200 million in gifts from 12,732 donors. More than 60 percent of alumni contributed to this effort.
The Centennial Campaign, which commenced in July 2005, officially ended today having raised $203,456,896.
“Against great odds, including the worst economic downturn since the Great Depression, our alumni and friends invested in this college and the work that we do,” said Hugh Porter, vice president of college relations. “Their dedication to Reed’s mission of excellent teaching and students’ development inspired a remarkable range of generous support.”
“Reed College has long been one of the very best liberal arts colleges in America,” said Reed College President John R. Kroger. “This successful campaign will help us provide a world-class education in the humanities, arts, and sciences to a new generation of students.”
The biggest success was money raised for financial aid. Reed’s initial goal was to raise $50 million for assistance to low- and middle-income students. Ultimately, Reed’s alumni and friends contributed $74 million toward this goal. Half of Reed’s 1,455 students receive financial aid packages averaging $36,625 per year. Reed students graduate with a lower debt burden than their counterparts at Oregon state schools. “The tremendous growth in financial aid enables more worthy students to benefit from a Reed education,” said Kroger.
The campaign also strengthened the academic position of the college. As a result of campaign donations, the college has added 18 new professors, reducing the student-faculty ratio to 10 to 1, and resulting in the creation of a new multidisciplinary major in environmental studies.
“I take great pride in Reed's dedication to strengthen the arts and humanities at a time when other institutions have been forced to make deep cuts in these areas," said Roger M. Perlmutter ’73, chairman of the Reed College Board of Trustees. "Fulfillment of our campaign goals will permit more students to develop skills in critical thinking, and hence to contribute broadly to the benefit of society.”
The college has raised $13 million of a projected $14 million in contributions to construct a new state-of-the-art facility that will combine for the first time Reed’s music, dance, and theatre departments under one roof. The building will open for students and the Portland community in the fall of 2013.
As a result of this campaign and a solid investment strategy, Reed’s endowment now totals $456 million. The endowment provides a solid financial base as Reed embarks on its second century.