UVa at two-thirds of fundraising goal

The University of Virginia has raised two-thirds of its $3 billion fundraising campaign, officials announced Sunday.

UVa reached the milestone two months behind a projection set as the economic downturn began. Gov. Timothy M. Kaine announced budget cuts last week that bring UVa’s funding cuts to $51.5 million over the last three years.

John T. Casteen III, the university’s president, said budget cuts have made donations more integral to UVa’s operations. State funds now make up 10 percent of academic and 6 percent of the overall budget, a decrease from 1990, when state funds made up 29.9 percent of the academic and 22.9 percent of the overall budget.

“Our students, our alumni and the university’s friends did not cause the multiple crises that the republic, our state and the university now face,” Casteen said. “But today’s news is that, in this campaign, they are doing their share and more to build solutions.”

As of Aug. 31, the university has been given more than 449,000 gifts and pledges. About 35 percent of UVa alumni have contributed about $653 million to the campaign, which began in 2004 and will end in 2011.

The campaign’s largest gifts have come from alumni. Frank Batten Sr. donated $100 million, which was used to create the Frank Batten School of Leadership and Public Policy. The estate of David A. Harrison III gave UVa $64 million for endowed professorships in law and medicine and a $50 million trust that UVa will receive in 20 years.

Campaign funds have been used to pay for construction of new academic and research facilities, including the Emily Couric Clinical Cancer Center and the Curry School of Education’s Bavaro Hall. Donors also have supported scholarships, research, graduate fellowships and professorships.

The campaign’s last phase will focus on saving money for student-based needs, including financial aid and strong academic programs. Casteen launched a fundraising campaign last week for UVa’s financial aid program, AccessUVa.