August 19, 2011
Lake Erie College Completes $30 Million Capital Campaign and Second Best Year in Fundraising
Painesville, Ohio - Lake Erie College officials announced they have successfully completed all phases of their capital campaign and surpassed their goal of $30 million with more than $31, 304,311 in contributions and commitments. This is the largest and most successful fundraising effort in the history of the 155-year old liberal arts college.
"We are grateful for the generosity of our alumni, friends, foundations, corporations and parents for helping us reach our goal ahead of schedule,” said President Michael T. Victor. "With their tremendous support, we can accommodate the growth in enrollment that we have experienced over the last five years and prepare for the future,” said Victor.
Lake Erie College received numerous major gifts since the capital campaign began when President Victor took the reins in July 2006, including a $4 million gift from an anonymous donor and a $3.5 million gift from Gretchen Reed which included the Pheasant Run Airport located in Madison, Ohio, 18 historic aircraft and supporting funds. These represent two of the largest gifts in the history of the College. There were also several other gifts in excess of $1 million.
Gifts from the campaign have enabled the College to complete the $8 million construction project of the new Austin Hall of Science, construct a new $3 million learning center at the George M. Humphrey Equestrian Center, acquire the former Andrews Osborne Academy property adjacent to the Painesville campus, place artificial grass on the athletic field at Jack Britt Stadium and improve other facilities and the grounds of campus.
Students have, and will continue to, benefit from the campaign with new scholarships, academic programs such as the creation of the Center for Entrepreneurship and physician assistant program planned for 2013, and sports program enhancements in order to accommodate Lake Erie College’s increasing presence in NCAA Division II athletics. Approximately $4 million in unrestricted support from the annual fund over the last five years is included in the $31.3 million capital campaign.
"This was an incredibly successful campaign and we are fortunate to complete it in just 60 months from the start of President Michael Victor’s administration and during these challenging economic times. We finished strong with approximately $7 million this past year which allowed us to exceed our goal,” said Scott Evans, vice president for institutional advancement.
"The next campaign is already underway as of July 1. We will focus on capital funds for a new library, scholarships, academic program support and endowments to sustain the College well into the future,” he added. "We thank all of our donors for their contributions and their efforts to advance the institution and meet our strategic goals,” said Evans.