CORVALLIS, Ore.—Oregon State University leaders officially launched “The Campaign for OSU,” a $625-million fundraising effort and the university’s first ever comprehensive capital campaign, at a public celebration today. Supporters have already committed $350 million toward the goal.
As part of the event, OSU President Ed Ray also announced $77 million in private and public commitments toward a major campaign initiative: the Linus Pauling Science Center and its associated research and education programs. A 1922 OSU chemical engineering graduate, Pauling is the only person to have won two unshared Nobel Prizes. The center will house chemists from the College of Science and the world-renowned Linus Pauling Institute, which continues Pauling’s life’s work in health research. It will also provide learning space for students in chemistry, biochemistry and the life sciences (see related release, “OSU receives $77 million for science initiative”).
“This is an historic moment for Oregon State University,” said President Ray. “This university is about changing and enriching lives. Seizing on the momentum of this extraordinary campaign and building on the excellence we demonstrate every day, we can ensure that our students achieve bright and prosperous futures, create a stronger, more competitive Oregon and advance research that addresses some of the world’s most pressing problems.”
OSU plays an important role in the state’s prosperity, said Oregon Gov. Ted Kulongoski.
“Oregon State University not only educates many of our citizens but also develops our capacity in areas such as health, natural resources, energy development and new technologies,” the governor said. “An investment in OSU is an investment in Oregon’s future, and it will improve lives here and around the world.”
Beginning with a planning phase in 2004, the campaign has already received strong support, including $52 million toward a $100 million goal for scholarships and fellowships. More than 62 donors have given gifts of $1 million or more to the campaign to date. Participation has been broad, with more than 400 donors contributing $100,000 or more; 45 percent of these donors live outside of the state.
“The fact that so many people have come forward so quickly demonstrates how much we believe in this investment,” said Patricia V. Reser, a 1960 OSU graduate and campaign co-chair. “OSU is coming into its own at a time when its many strengths are in high demand around the world. It’s time to tell our story.”
Reser of Beaverton, Ore., is co-owner and corporate treasurer of Reser’s Fine Foods and one of three co-chairs leading a 13-member Campaign Steering Committee. The other co-chairs are James H. Rudd of Lake Oswego, Ore., CEO and principal of Ferguson Wellman Capital Management, Inc., and Patrick F. Stone of Santa Barbara, Calif., former CEO of Fidelity National Information Solutions.
OSU is launching this campaign in collaboration with the OSU Foundation, the nonprofit organization chartered to raise and administer private funds in support of the university’s education, research and outreach. The foundation retains assets of more than $570 million, and manages the majority of OSU’s composite endowment, valued at more than $430 million, which supports the work of the university and the people it serves.