Arizona State University today announced a public campaign to raise $1.5 billion in private donations.
University officials say this is the third and largest public campaign in the school’s history. The campaign has actually been going on since 2011, raising $1 billion of the goal.
Now, ASU is asking for $500 million from private, philanthropic donations.
ASU foundation CEO Rick Shangraw says the campaign is not a replacement for state funds, though fewer public funds have changed the university funding model.
“We’ve tried to maintain a lower cost of tuition and as state has decreased. Then we are seeing philanthropy playing and private support playing a much larger role in terms of the overall budget for universities,” he said. "It allows us to add those extras that shape excellent, meaningful university and research experiences.”
The money would go, in part, to expanding Cronkite News year-round, more facilities for student athletes, and a classroom building near the Phoenix Art Museum.
Of the $1.5 billion, part is slated also to renovating libraries, generating scholarships and building sports facilities.
