With $320 million in pocket, Wharton fundraising goes on

In its continuous efforts to remain the nation's top business school, Wharton is closing in on its multi-million dollar fundraising goal. According to Wharton officials, the school has secured over $320 million of the $425 million it hopes to raise by June 2003 in the Campaign for Sustained Leadership. Last semester, Wharton officials announced the campaign's global launch. The campaign was started in June 1996, under then-dean Thomas Gerrity, to recruit faculty and provide scholarships, drawing in the best professors and students. So far, the donations consist largely of individual contributions, in addition to some corporate and foundation donations. Even with high fundraising goals, Wharton officials feel confident they will reach their targets. "We hope to not only reach but exceed our goal of $425 million thanks to the generous support of alumni and friends," Wharton spokesman Mike Baltes said. The campaign is the largest fundraising initiative in Wharton's history, with the largest single contribution coming from Wharton alumnus and Co-Chairman of the Campaign Steering Committee Jon Huntsman, who donated $40 million in 1998. The money is also helping develop Huntsman Hall, currently under construction and scheduled to open in 2002. "It is imperative that we equip ourselves to remain the innovator in business education," Wharton Dean Patrick Harker said in a statement. "This campaign effort will assure our ability to remain at the forefront of business schools for the 21st century," Harker said. The global launch is just another in a series of milestones for the campaign. Other large donations to the campaign includes a $10 million gift by alumnus Bill Mack to establish the Mack Center for Technological Innovation. Taiwanese businessman Chen Fu Koo also donated $10 million to the campaign. He will be the namesake behind the Dr. C.F. Koo Plaza in Huntsman Hall. Since beginning its "quiet phase" in 1996, the campaign broke the $100 million mark in 1998 and the $200 million mark in 1999.