"Raising the Bar for Matching the Promise: Heightened Goals in Challenging Times"
IU Foundation Board Dinner
IUPUI Campus Center
February 5, 2009
Welcome and Acknowledgments
It is my great pleasure to welcome you this evening to this wonderful facility made possible with private philanthropic support. Let me extend an especially warm welcome to a few very special guests who provide such outstanding public leadership for our state and who honor us by their presence here this evening. I am delighted that Governor Mitch Daniels is with us tonight and will be speaking to us later on in the program. Please join me in welcoming him. I am also extremely pleased that we are joined this evening by Senate Minority Leader, Vi Simpson, a strong supporter of higher education in Indiana. Please join me in welcoming her. Thank you both for being here this evening.
A Bold Vision for Challenging Times
These are grave and challenging times. The economic downturn facing this country has touched every one of us, and Indiana University is no exception.
However, as I said in my State of the University address last October, modest goals and diminished aspirations do not provide security in times of change and uncertainty. There is no security in mediocrity or complacency, and there is no safety in standing still. And Indiana University is not standing still. We are continuing to move forward boldly yet realistically in the face of these challenges, responding vigorously to maximize efficiency and to maintain the highest level of service to the citizens of Indiana and to the entire state.
This is precisely what Governor Daniels, the legislative leadership and—I am convinced—the citizens of this state expect us to do. Let me be clear: we undertake these efficiencies and difficult decisions because they are the right thing to do especially in these challenging financial times. Hoosiers everywhere are tightening their belts, and we are certainly not exempt from these hard choices.
Over the past year, we have taken a number of measures to reduce our budget, increase revenue, reallocate resources to priority areas, and maintain—and actually increase— our enrollments. As we seek funding from our state and federal partners, we must be certain we are also doing everything we can to help ourselves.
I made just this point on Tuesday when I presented Indiana University’s budget proposal to the House Ways and Means Committee. Having taken aggressive measures to help ourselves, it is nevertheless essential—even in these tough times—that Indiana University be funded at a level that allows us to accomplish our fundamental missions on behalf of this state. And as I told the committee, we seek no more than is necessary to do just that.
The Importance of Private Philanthropy
However, there is another component that is absolutely critical to our ability to achieve our goals—one that is well known to all in this room. In difficult times like these, private philanthropy supports our relentless progress towards excellence in education and research. It serves as one of the great, almost unique, pillars of the American system of higher education, making it the greatest in the world.
Matching the Promise: Success thus Far
Even in the face of these trying economic times, I am pleased to announce that this philanthropic support has propelled our Matching the Promise Campaign at IU Bloomington to over 93.5% of its $1 billion goal as of December. Among the many gifts, for which we are deeply grateful, was a $35 million gift from Mickey and Janie Maurer to name the School of Law in Bloomington and a $77 million gift for scholarships from the estate of Jesse and Beulah Cox. Both were recognized just yesterday in the Chronicle of Philanthropy’s list of the nation’s top donors. Additionally, we have received a $15 million commitment from an anonymous donor for the renovation of the Kelley School of Business’ undergraduate building. That gift pushes the campaign to 95% of its goal.
The remarkable gains we have made through Matching the Promise demonstrate the tremendous momentum we have built in concert with our private philanthropic partners who are helping Indiana University to help itself.
Matching the Promise: Raising the Bar
Hence, in order to build upon this momentum, I am announcing tonight that we will raise the goal for Matching the Promise by $100 million, from $1 billion to $1.1 billion, a ten percent increase, by the campaign’s end in 2010.
Such a goal will require the concentrated and coordinated efforts of university alumni and friends, whose dedication, loyalty, and generosity are even more vitally important during these times of economic uncertainty. At a time when many in higher education may be scaling back, we are redoubling our efforts to enhance the educational and research environments that serve the citizens of Indiana and beyond.
Thus far, the Matching the Promise Campaign has raised well over $300 million for scholarships and fellowships alone. It supports 980 undergraduate scholarships and 106 graduate fellowships and has transformed the lives of countless students by providing them educational and research opportunities otherwise out of their reach. In the month of December alone, we received 18 new endowed scholarships and 8 new endowed graduate fellowships, including a scholarship endowment from our own Senator Evan Bayh.
These funds not only decrease out-of-pocket tuition costs, but they help keep the best Hoosier students right here in Indiana for college.
In addition to enhancing accessibility and affordability, we also intend to substantially renovate, repair, and improve laboratories, classrooms, rehearsal facilities, and practice spaces across the campus.
By pushing towards a higher goal—$100 million dollars higher—we are also pushing towards even greater opportunity for talented Hoosier students.
Some of you know that in her role as First Lady of Indiana University, my wife Laurie has actively promoted the importance of STEM or science, technology, engineering and mathematics education. Hence, as a contribution to the Matching the Promise Campaign, Laurie and I will be making a planned gift to endow a graduate fellowship in the Department of Mathematics in Bloomington to support a student from a background not well represented in this field.
I am also pleased to announce that the College of Arts and Sciences will initiate a new program to match graduate student fellowships.
Matching the Promise: New and Continuing Leadership
In this economic environment, such a heightened goals may come as a surprise. Frankly, it would be easier for us to use the economic downturn as a reason to lower our sites and establish a safer goal, a lower bar to clear. However, because it is easier does not make it right.
Our goal affirms our strong belief in this university, its alumni, and friends. It calls on the best in all of us. It calls for vision, and it calls for leadership. In this regard, I am pleased to announce this evening that the indefatigable Jim Morris has agreed to join the campaign as co-chair. He will be working with Kay Booth, Clarence Boone, and Cindy Simon Skjodt in leading our expanded effort.
I wish to express our deepest thanks to Dick Johnson for his past dedication and for his steady hand as a co-chair. Dick’s tireless efforts have brought us to where we are today, and as an expression of our gratitude, Dick has been named honorary co-chair of the campaign. I also want to express my appreciation for the continued leadership of the campaign’s executive committee.
It has taken the concentrated efforts of leaders from across the Bloomington campus for us to reach this moment of possibility. We all owe our gratitude to Executive Vice President and Provost Karen Hanson, Vice President and CFO Neil Theobald, the IU Foundation Board and staff, and the deans, who play such a vital role, along with their development officers across the Bloomington campus.
It will take all of your continuing efforts to sustain our steady progress as we work towards our new goal, so I am pleased to announce that Tom Herbert, Vice President for University-Wide Programs, will be helping guide those efforts as the new Director of the Matching the Promise Campaign.
Conclusion: A Combined Effort
Let me close by thanking each one of you for all that you do for Indiana University. As I mentioned earlier, Indiana University cannot and will not stand still. Guided by understanding and responsibility, we will move forward in the direction of progress together.
From provost to development professional, from chancellor to campus volunteer, our combined efforts will enable us to reach our goal.
Together, we are working towards a better, more efficient university. Together, we are aiming towards increased educational opportunities in an environment of excellence. Together, we are taking a bold step towards the future.
Years from now—after this economic crisis has passed and after we have achieved our great dreams for this institution that carries the name of this state—let it be said that it was THIS vision, THIS Governor, THIS Legislature and all of you in this room tonight, who, together, made it happen.
Thank you very much.
Introduce Governor Daniels
Now it is my honor to introduce the Governor of Indiana, Mitch Daniels.
Governor Daniels, of course, is well known to all of you, and I will not recite his all-too-familiar list of accomplishments, both here in Indiana and in Washington. His leadership has been bold and sometimes controversial. He has demonstrated not only an impressive grasp of the details of state government but also a willingness to offer new ideas and to challenge conventional wisdom in addressing the problems we face in Indiana. He has sparked a vigorous debate on a range of issues—and that certainly includes the vital issue of education.
It is my pleasure to ask him to come forward at this time.