The largest fundraising campaign in University of Hawaii history is likely to surpass its goal of $250 million, UH Foundation officials told the Board of Regents yesterday.
The Centennial Campaign, which marks the 100th anniversary of the university, will hit the $250 million mark by the end of the year and could bring in more than $275 million for the 10-campus university system by the time the campaign ends next year, said Donna Vuchinich, president of the foundation.
"My desire is that we hit $300 million," UH President David McClain told regents during the foundation presentation. "It's a good batting average."
The regents accepted two large donations yesterday -- $3 million from Barry and Virginia Weinman to establish a dean's chair at the UH medical school and $5 million from the Conrad N. Hilton Foundation toward the construction of a Culinary Institute of the Pacific on the old Cannon Club grounds at Diamond Head.
The Weinman donation brings the total raised so far in the campaign to $238.2 million.
The Hilton Foundation gift is contingent on the university raising the full amount needed to build the academy and won't be counted until construction begins, most likely in two years, said Vuchinich and John Morton, vice president for community colleges.
With the Hilton gift, Kapiolani Community College has about $8.1 million of the $16 million in private money needed to build the culinary school, Morton said.
A news conference will be held next week to begin a major push to raise the rest of the money, Morton said.
"I think this gift is going to act as a catalyst," Morton said.
The total cost of the new culinary institute, which will include a restaurant, is about $35.6 million.
More than $3 million in state and federal funds provided the planning and design money for the facility.
The rest of the construction costs will come from university bonds, additional private fundraising or, if necessary, more state funding, Morton said. The project also can be scaled back if the full amount is not raised.
The UH Foundation has been raising money for the Centennial Campaign since 2003.
Besides large gifts, the foundation has also doubled the number of alumni donations of any amount, Vuchinich said. When the campaign started, only about 1 in 10 UH alumni gave back to the university. Now the rate is about 1 in 5, she said.
Vuchinich said no other university has had as great an impact on a state as the University of Hawaii.
Donors recognize that the state cannot provide all the resources UH needs, she said.
The alumni who are donating, Vuchinich said, recognize how the university has helped them and now want to give back and provide others with the chance for an education.