The Hoover Institution's campaign, IDEAS DEFINING A FREE SOCIETY, has exceeded its funding goal of $75 million, with $78 million now raised.
Campaign Co-Chairs Bowen McCoy of Los Angeles and William Edwards of Atherton, California made the announcement on Monday, February 28, in Washington, D.C. to the members of the Institution's Board of Overseers who were gathered there for their annual Winter Meeting.
The $75 million goal was reached more than six months prior to the end of the campaign on August 31, 2000. Two other key campaign goals have also been achieved well ahead of schedule: doubling the number of donors to the Institution and doubling the level of expendable gifts to $10 million annually.
Gifts for expendable purposes exceeded the $10 million level in each of the past two fiscal years and are on track to do so again in the current fiscal year. Gifts made during the campaign have already led to new appointments and enhanced research output, as well as to new archival acquisitions and increased outreach.
McCoy and Edwards stressed to Overseers that for the success of the campaign to be sustained, the next few months must be devoted to securing commitments for expendable gifts to be made in the coming five years. "Because the level of expendable giving has increased so rapidly and dramatically, we must act now to assure that this new $10 million base is sustained," McCoy reported. "Longer-term investments in scholar recruitment and policy initiatives cannot be accomplished if funding levels are in doubt." Reflecting the spirit that led to the campaign's achievements, Edwards said, "I can think of no place where I can better aid the cause of freedom, at home and abroad, than by supporting the Hoover Institution. That is why I place it at the top of my giving list."
The campaign has already received more than 100 gifts in the $100,000 to $1 million range and 30 gifts in the $1-3 million range. Special recognition will be provided to all donors giving or pledging $100,000 or more by the end of the campaign. Plans call for the construction of a permanent display of these names at the Hoover Institution on the campus of Stanford University.
Hoover Director John Raisian said that he was most grateful for the outpouring of support for the Institution. "The funds flowing in will enable us to do much more to generate and communicate ideas. I deeply appreciate the willingness of so many to step forward to help us advance the mission of the Hoover Institution. The funds provided to us will be invested to advance ideas defining a free society."
