Texas Tech Surpasses $1-Billion Fundraising Goal
By: Julie Musgrave
Updated: February 8, 2013
Texas Tech University officials announced Friday, that history's been made at Texas Tech.
The goal was to raise $1 billion donor dollars, by August 2013. But Chancellor Kent Hance says donors went above and beyond - raising more than a billion, almost a year ahead of schedule.
In doing this, Texas Tech is now the third Texas University and one of only 70 nationwide who've met that goal.
The campaign, called Vision and Tradition, kicked off a few years ago. University officials took it public in 2010.
"It really concerned us in 2008 and 2009," says Chancellor Kent Hance. "There were some long moments there."
But Hance says despite an economic downtown, more than 120,000 Red Raider faithful kept the donations coming. Hance says dollars came from 39 countries and all 50 states.
"I could tell about a year and a half ago, that we really had momentum and it was moving forward," Hance says.
According to the university, $145-million of the $1-billion raised will go toward scholarships. And close to half will be invested in research and academics across all three campuses in the university system.
"It goes to capital improvements, renovations, new buildings," says Hance. "It also goes to endowments for professorships and chairs."
The campaign officially wraps up on August 31st. Then, Tech officials will announce the total amount raised. But Chancellor Hance says the campaign won't end then. He says he hopes it will only begin a new round of giving back, to the Red and Black.
