University sets goal of $500M for fund drive

AKRON — The University of Akron has launched the public phase of a campaign to raise $500 million.

President Luis Proenza said the funds will strengthen faculty, provide more scholarships and other incentives for talented students, continue to improve campus facilities, build infrastructure for academic success and fuel economic growth in Northeast Ohio.

The capital fund drive is one of the biggest campaigns for a public university in Ohio, he said.

The university has been in the “quiet phase” of the campaign for several years and has already received more than $275 million in gifts, grants and pledges. Its endowment is among the top 100 in the United States.

 “Past performance has shown that our institution and community can attain any goal,” said Proenza in announcing the campaign during his annual State of The University address. “I believe that we will again be successful, though this stretch goal will require unprecedented effort by our university, by the individuals who have supported us so generously in the past and by some who will become involved for the first time as part of this campaign.”

 “The $500 million generated by this campaign will provide the financial resources to advance our university to even greater levels of academic excellence, to contribute even more to the economic vitality, strength and quality of life of our community and to further intensify the benefits of our unmatched research and educational resources,” Proenza said.