SOUTH KINGSTOWN – The University of Rhode Island’s largest fundraising initiative in the history of the state’s only land-grant school has met its campaign goal with a month to spare.
The university announced Monday that its “Big Ideas. Bold Plans. The Campaign for the University of Rhode Island” has surpassed its $300 million goal ahead of its June 30 official end date. More than 34,000 individuals, including alumni, family, friends, faculty, staff, corporations and foundations contributed in large and small amounts to help the initiative – led by the URI Foundation & Alumni Engagement – reach the goal, URI says.
The campaign was
first launched in June 2020, initially to raise $250 million by 2024. However, URI in November 2021 increased the campaign’s goal by 20% to $300 million, citing at the time the university surpassed raising $218 million in a little more than a year since the initiative launched.
URI said multiple transformative gifts helped fuel the campaign. Among them were
the $35 million gift the university received from former CVS Health Corp. Chairman, CEO and President Thomas M. Ryan and his wife, Cathy – the largest such gift URI has received to date – and
a $15 million gift from former Hasbro Inc. Chairman and CEO Alfred J. Verrechia and wife Geraldine to help elevate the URI College of Business.
As a result of these gifts and others, the university, it says, has raised more than $71 million for financial aid, brought in new scientific equipment, built and renovated classrooms and labs, upgraded athletic facilities and expanded experiential learning opportunities for students.
“The tremendous success of this campaign is proof of what we can do when we work together,” URI President Marc B. Parlange said in a statement. “The University of Rhode Island’s students, faculty, and staff are exceptionally hard-working, talented, and innovative, and thanks to this effort, we can provide them with what they need to make a difference here on campus, in our community, and around the world.”
URI Foundation President Lil Breul O’Rourke said in a statement that the fundraising initiative has helped transform the university “into a leading global research institution driving positive social, cultural, and environmental change.”
URI says the campaign will still run through June 30, seeking to raise additional money for its various initiatives.
James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on Twitter at @James_Bessette.
