Is $1 billion the future in college fundraising campaigns? It's becoming "more and more common" goal, but is it sustainable over the long term?
"Southern Methodist University recently joined the growing ranks of institutions engaged in billion-dollar fund-raising campaigns. After raising $780-million during its Second Century campaign, trouncing its initial goal of $750-million with two years left to go, SMU’s Board of Trustees voted last month to raise the official goal of the campaign to $1-billion by its end, in 2015. A billion dollars is a staggering sum in almost any context. Yet it is becoming more and more common in higher-education fund raising." -- Lee Gardner, the Chronicle of Higher Education