September 4, 1998

Faculty endowment goal exceeded as campaign enters final phase

Fund-raising has reached a fever pitch as Thresholds: The Campaign for Loyola University New Orleans nears its year-end completion date. As this final phase unfolds, and with $45 million pledged to date, one target area has already had its goal met and exceeded: faculty endowment.

At the onset of the campaign in 1993, the objective for faculty endowment was set at $10 million, one-fifth of the overall $50-million goal. By the end of June of this year, fund-raising totals in this category stood at $10,881,700.

“The faculty endowment total represents a definitive investment in the future of the university’s faculty and Loyola’s commitment to teaching and research,” says Joseph Mansfield, vice president for institutional advancement. “It marks an important step in the growth of this institution.”

Twenty-two endowed professorships have been established at a minimum cost of $60,000 each. Nine endowed chairs, requiring donations of $600,000, have also been enacted. Each professorship and chair gift is eligible for a matching award from the state of Louisiana, to bring the total endowed funds to $100,000 and $1 million, respectively. Many of these matches have already been received, with others to follow in the near future.

The wealth has been distributed quite evenly among Loyola’s various branches. The College of Arts and Sciences, the College of Music, the College of Business Administration, and the School of Law have all received funding for multiple professorships and at least two endowed chairs. Seven additional professorships have yet to be designated for a particular academic area.

The accomplishment is all the more remarkable considering Loyola’s minimal fund-raising infrastructure prior to the start of Thresholds. Loyola’s past ownership of the WWL-TV station and healthy endowment allowed the university to function without the modern fund-raising operations present at most institutions.

“We had a daunting task before us in 1993,” Mansfield explains. “Very few prospective donors had continuous records of substantial giving. In a sense, we were raising money from strangers.”

Faculty endowment and the campaign as a whole have received outstanding support from members of Loyola’s Board of Trustees. Board member and Houma attorney Michael X. St. Martin (L’67) recently committed $600,000 to establish the first endowed chair in the School of Law. St. Martin already had contributed funds for an endowed professorship at the School of Law as well as an annual law school scholarship for students from the Houma area. Other exemplary donors include trustees Shawn M. Donnelley (A’91) and Adelaide Wisdom Benjamin who have augmented initial campaign commitments to bring their total contributions to nearly half a million dollars each.

The fund-raising drive also has benefited from the input and assistance of the faculty themselves. Chemistry Chair Kurt Birdwhistell, for example, has been instrumental in the efforts to secure full funding for his department’s ongoing, $2.45 million renovation project in Monroe Hall. Countless other faculty members have had a direct hand in the formulation of funding proposals and the solicitation of prospective donors.

“This has been a true Loyola community effort,” said Mansfield. “Income from these endowments will provide support for all faculty now and in the future, a legacy testifying to the commitment of today’s faculty to their future colleagues. Equally important is the fact that many contributors made their gifts to honor a favorite faculty member who provided guidance and helped shape careers. Our faculty is what makes Loyola different from its peers.”

–Michael Ferguson former advancment writer