Thanks to the generosity of our alumni, friends, and corporate and foundation donors, our college received record level philanthropic
support in fiscal year 2006–07. The Institute of Technology received more than $27 million in support
for undergraduate scholarships, graduate student
fellowships, academic program enhancements, research, and faculty professorships and chairs. On behalf of our students, faculty, and those worldwide who benefit from the college’s innovations, I want to express our sincere gratitude.
Private philanthropy will remain a vital and essential
resource to maintain our position as a premiere
educator and to solve our world’s challenges in energy, the environment, and health care. To achieve these goals, IT Dean Steven Crouch has identified three top fundraising priorities.
Recruiting and Retaining World-Class Faculty
The single greatest key to the quality of the college and its programs is the quality of its faculty. We must improve our ability to compete with other well-known research institutions to attract and retain the best faculty and to provide conditions in which they can develop to their full potential. Endowments
are an important way to help and may be established at various levels ranging from $500,000 to $5 million.
Attracting and Supporting Exceptional Students
Undergraduate scholarships are essential to ensure our programs are more accessible to high-ability students
with financial need from diverse populations. To meet this need, the college has set a goal to secure an additional $10 million in endowed scholarships.
Endowed graduate student fellowships enable us to recruit highly qualified students from around the world, and develop those students into the nation’s most sought after doctoral graduates. To improve recruitment and enhance the experience of incoming
students, the college seeks to provide a first-year fellowship to every incoming doctoral student, requiring
an additional $10 million in annual support.
Qualifying endowed scholarships and fellowships receive
a one-to-one match from the University, thereby
doubling the impact of your gift. Named endowed student funds may be established for a minimum gift of $25,000. Endowments at larger amounts can make an even greater lasting impact. For example, a $250,000 endowed graduate fellowship provides one-fourth of a graduate student’s tuition and an endowed scholarship fund of $100,000 provides one-half of an undergraduate student’s tuition.
Creating State-of-the-Art Facilities
A new Physics and Nanotechnology building is needed
for our University to compete with other top universities.
Keeping classrooms and labs up to date is a constant and expensive priority. Physics—fundamental
to technological study—occupies a historic, lovely building, which is entirely out of date. A new building with an attached nanotechnology center is part of the U of M’s six-year capital plan. The Physics building will require significant private support.
A welcoming student center is a priority for the Dean to enhance the undergraduate experience. We are in the process of raising nearly $7 million in private support to renovate Lind Hall to create an undergraduate student center that provides a welcoming space for a variety of services including advising.
You will hear more about Dean Crouch’s exciting and relevant vision in the coming months. Your support
will help to make that vision a reality. Thank you for investing in the Institute of Technology and for helping us invent tomorrow—today.
This past fiscal year, more than 5,800 alumni, friends, corporate, and foundation donors gave a record amount in gifts and pledges to the Institute of Technology.
The total raised was just over $27 million, which was an increase of nearly 250 percent in private support compared with the previous year.
Of the total received, a $4 million gift was secured for the new Gemini Chair in Management of Technology, a $10 million gift will support graduate fellowships, and eight new endowed undergraduate scholarships and 10 new graduate student fellowships will be established. Additionally, Campaign FIRST, the fundraising campaign for fellowships in the Department of Chemical Engineering and Materials Science (CEMS) reached $13 million toward its goal of $20 million.
Overall, giving and pledges to the U were up in fiscal year 2007. The total was $251 million, a 39 percent increase from a total of $181 million in fiscal year 2006.
“We are very pleased with the support our donors have shown,” said Steven Crouch, dean of the Institute of Technology. “These gifts are crucial to maintaining the excellence of our programs, attracting top faculty, recruiting the best and brightest students, and supporting research that will improve our everyday lives.”
The Institute of Technology has launched a fundraising campaign this fall to fund a renovation of the first floor of Lind Hall to become the academic home for the college’s undergraduate students.
Known for many years as the Main Engineering Building, Lind Hall was built in 1912. A visit to today’s Lind Hall clearly shows that the building does not meet the technology-driven demands of Millennial Generation students. The facilities are in disrepair and offices are configured in isolation from one another preventing seamless services for students.
“Our goal is to enhance the educational experience and opportunities for undergraduate students in the Institute of Technology by improving facilities for academic advising, tutoring, study-abroad planning, diversity and outreach programming, and career services,” said Paul Strykowski, IT associate dean for undergraduate programs.
Renovation plans would enable staff with similar job functions to be grouped together creating an environment where they can share best practices and meet the increasing needs of future students.
In addition, the newly renovated Lind Hall will serve as a welcome center for alumni and prospective students visiting campus and a central gathering location for alumni, faculty, and students at campus events.
It will also create one convenient location on campus where industry partners can interact with Institute of Technology administrative leaders and with students to talk about jobs, internships, and other partnership opportunities.
Total projected renovation costs are expected to be about $7 million. The estimate includes important infrastructure improvements such as upgrading the building to meet fire codes, accessibility requirements, asbestos abatement and historical preservation. The funds needed for the renovation will come entirely from private donations as there is no state money for this project.
Renovation is expected to begin in fall 2008 and be completed by fall 2009.
The Institute of Technology has launched a fundraising campaign this fall to fund a renovation of the first floor of Lind Hall to become the academic home for the college’s undergraduate students.