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Columbia Sets Ivy League Record With $6.1 Billion in Fundraising

Jan. 30 (Bloomberg) -- Columbia University set an Ivy League record by raising more than $6.1 billion in a capital campaign that began in 2006.

The money raised is the second-highest amount of any college, Columbia said today in an e-mail sent to the university community. It follows Stanford University near Palo Alto, California, which took in $6.23 billion in a campaign that ended in 2011. The University of Pennsylvania held the previous Ivy League record by raising $4.3 billion in an effort that ended in December 2012.

Columbia President Lee Bollinger said in the e-mail that more than $1 billion of the funds will go toward student financial aid while almost $1 billion more will support 40 different projects across the campus. Among them is a 17-acre campus expansion in the West Harlem neighborhood of Manhattanville.

“Even the bare statistics underlying the campaign total are amazing and should give us heart for Columbia’s future,” Bollinger said.

In September, Harvard University began a fundraising effort with a $6.5 billion goal by 2018, the biggest set by a U.S. university.

To contact the reporter on this story: Michael McDonald in Boston at mmcdonald10@bloomberg.net

To contact the editor responsible for this story: Lisa Wolfson at lwolfson@bloomberg.net

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