Hiram College has exceeded its goal of raising $20 million in cash, pledges and bequests for its endowment, over a two-and-a-half year period.
The endowment initiative began January 2012 with the goal of raising $10 million over two years. After meeting this goal nine months early, in April 2013, President Tom Chema announced a second goal of doubling this amount by his retirement, June 30, 2014.
A total of $20,111,164.02 has been raised through this initiative.
“Endowments ensure long-term sustainability, and I am pleased that our alumni and friends are so invested in Hiram’s future,” President Chema said. “As I retire, I am certain Hiram is on solid footing, in part thanks to the generous outpouring of support for this endowment initiative.
Of the $20 million-plus raised, $3.8 million has been in cash and pledges. This exceeds a sub-goal of raising at least $2.5 million of the campaign dollars in cash, said Pat Roberts, vice president for development and alumni relations. In addition, since the campaign began, five donors have decided to include Hiram College in their estate for seven figures, doubling the number of donors who have made such a gift previously.
“These gifts are transformative,” Roberts said. “They provide funding for visiting scholars, scholarships, faculty development and most importantly, the student experience. It’s heartening to know that so many of our constituents are eager to support the sustenance of Hiram’s academic quality.”
The endowment initiative is part of a larger goal of increasing Hiram’s endowment, currently at more than $65 million to exceed $100 million. An endowment of $100 million-plus would put Hiram’s endowment in the top 10 percent of colleges and universities nationwide.