Holy Cross Completes Capital Campaign at Record $216.3 Million

WORCESTER, Mass. – The College of the Holy Cross announced today that it has concluded the most successful capital campaign in its history, raising a total of $216.3 million – far surpassing its original goal of $175 million.

"This is a tremendous accomplishment for Holy Cross," said Rev. Michael C. McFarland, S.J., who became the College's 31st president in 2000, the year before the campaign was publicly announced.  "Both the stated campaign goal of $175 million and the final achievement were close to three times what they were in the College's last campaign.   The many generous gifts we have received have already had a significant impact on our ability to offer an undergraduate experience comparable to the best found anywhere; and to make it accessible to any student who is admitted, regardless of ability to pay."

He added:  "We are most grateful to all the volunteers and staff who worked so hard on the campaign and to all of our contributors, from Park Smith to all the thousands of people who faithfully support the annual fund each year."

Fueling the record levels of giving was a challenge to Holy Cross alumni by Park B. Smith '54, founder of the home textile company Park B. Smith, Ltd., and noted restaurateur and wine connoisseur.  In the fall of 2005, when it was apparent that the campaign would indeed exceed the original goal, Smith and his wife Linda Johnson Smith announced that if alumni would stretch beyond the goal to $190 million, they would contribute an additional $10 million to reach $200 million ("I like round numbers," said Smith at the time.)  Alumni, parents, and friends of the College rose to the challenge, contributing more than $17 million in the months following the Smith announcement.

The "Lift High the Cross" campaign began in 1998 with a three-year "quiet" phase, then publicly launched in September 2001.  During the course of the campaign, the College received a record 39 gifts of $1 million or more.  A total of 12 new faculty positions were established, along with more than 75 newly endowed scholarships for students.  The campaign provided support for the renovation of the Mary Chapel as well as construction of new facilities on campus, including Smith Hall (which houses the new Center for Religion, Ethics and Culture); a five-story apartment-style residence housing 244 seniors; and a new 1,350-seat soccer stadium.

The campaign's goals also included efforts to lower the student/faculty ratio and increase diversity on campus.  Today, the student/faculty ratio is nearly 10:1, among the best in the nation; and ALANA students (African-American, Latin American, Asian-American, and Native American) now represent 17% of the incoming class.

The campaign has contributed significantly to the overall long-term financial health of the College.  During the history of the campaign, the College's endowment grew to more than $525 million, approximately $100 million of which is due to gifts.

"Although our campaign goal was very ambitious, we are delighted with the outcome," said Jack D. Rehm '54, National Campaign Chair.  "What the College has gained puts us squarely in the midst of top-ranked liberal arts colleges with campaigns of this magnitude, and it's profoundly gratifying to see students benefit."

"The success of this campaign was built on the overwhelming generosity of alumni and friends, and on the enthusiasm of volunteers across the country," said Paul E. Sheff, vice president of development and alumni relations at Holy Cross.  "Whenever we asked, they gave unflinchingly in terms of resources and time."  In addition to Rehm and Sheff, founding members of the Campaign Steering Committee were Rev. John E. Brooks, S.J. '49, Michael F. Collins, M.D. '77, P. Kevin Condron '67, Ann Marie Connolly '74, Constance A. Eagan '81, William F. Glavin '53, Jack Lentz '67, the late Charles E.F. Millard '54, Fr. McFarland, and Frank Vellaccio, the College's senior vice president.

"The beneficiaries of the Lift High the Cross campaign are our students and all those whom they will ultimately serve with the talent and generosity they developed and refined at Holy Cross," said Fr. McFarland.  "We will continue to count on the support  of our loyal and generous alumni and other benefactors as we strive to make Holy Cross the very best it can be in the face of the many escalating cost factors in higher education."

The conclusion of the campaign will be formally celebrated this fall at events in Washington, D.C., and on the College's campus.