Seven-year Effort Endowed Funds for Scholarships, Research and Campus Modernization
12/02/2020
Contacts for media: Christine Gillette, 978-758-4664 or Christine_Gillette@uml.edu and Nancy Cicco, 978-934-4944 or Nancy_Cicco@uml.edu
LOWELL, Mass. – When UMass Lowell launched “Our Legacy, Our Place: The Campaign for UMass Lowell,” fundraising experts warned university leaders against setting their sights too high and falling short. The consultants recommended a goal of $100 million.
University leaders disagreed. UMass Lowell’s 2020 Strategic Plan was full of stretch goals deemed difficult to achieve, but essential to becoming a prominent national university. The goal was set at $125 million.
But the university didn’t raise $125 million.
Over the course of seven years, UMass Lowell alumni, faculty, staff, students and friends donated $165.2 million for scholarships, teaching and research, living-and-learning facility modernization and the creation of a university poised to achieve great things as it begins its second 125 years of existence.
“Nearly 47,000 people invested in UMass Lowell’s future during the ‘Our Legacy, Our Place’ campaign,” said Chancellor Jacquie Moloney. “With fewer than 100,000 total alumni, that level of commitment to this university is inspirational and their collective gifts have been transformational.
“A full 50 percent of our faculty and staff have donated to the university,” Moloney said. “That’s three times higher than the national average and a sign of just how deeply university employees believe in our mission to educate students, advance research and create a positive impact on all those touched by UMass Lowell.”
The campaign has increased UMass Lowell’s endowment by 70 percent and now exceeds $110 million. More than $20 million was raised for student scholarships and some 7,000 scholarships were distributed during the campaign. In addition, the Independent University Alumni Association of Lowell – a key partner in scholarship support for students – awarded more than 600 additional scholarships worth $1 million over the life of the campaign. Of 575 total endowed funds, 218 were added during this period, primarily for student scholarships.
Joshua Palomares is the first in his family to attend college.
“Being a first-generation student means it’s important for me to help financially support my family. Scholarships have allowed me to pay my college expenses,” Palomares said.
Universities use the interest generated by endowments to permanently fund scholarships and other institutional activities based on the wishes of philanthropists.
“Savvy donors no longer give to an institution, but rather give through the institution with the express purpose of enacting change, making a difference and fostering impact,” said John Feudo, vice chancellor for advancement. “UMass Lowell alumni and supporters saw that an investment in this university will provide a strong return for generations and they wanted to be a part of that. Reaching our initial fundraising goal nearly two years ahead of schedule and then exceeding the original target by more than 30 percent is a clear sign that our alumni believe UMass Lowell is worthy of their generous philanthropic support.”
Moloney also emphasized the critical leadership role of UMass President Marty Meehan in initiating the campaign and his outreach to alumni and donors when he was UMass Lowell’s chancellor.
“Marty Meehan had a vision for what UMass Lowell could become and the ‘Our Legacy, Our Place’ campaign was a key part of that achievement,” said Moloney, who served as executive vice chancellor during Meehan’s time at UMass Lowell. “In addition to his outreach and leadership, President Meehan also led through his actions and we are grateful for his philanthropic support.”
Feudo said a more active and engaged alumni base is one of the most important benefits of the campaign as the university looks toward the future, a sentiment echoed by student Ashley Inirio.
“When I become a behavioral therapist, I plan to donate my money and time to UMass Lowell,” Inirio said. “I truly appreciate the amount of support I’ve received and would like to pay that forward in the future.”
UMass Lowell is a national research university offering its more than 18,000 students bachelor’s, master’s and doctoral degrees in business, education, engineering, fine arts, health, humanities, sciences and social sciences. UMass Lowell delivers high-quality educational programs and personal attention from leading faculty and staff, all of which prepare graduates to be leaders in their communities and around the globe. www.uml.edu