POSTED AT 12:00 AM ON Oct. 31, 2007 | PRINT | Email | SHARE | COMMENTS (0)

IU went public with its “Matching the Promise” campaign at a press conference Monday, but some students are already seeing the benefits.

The University and the IU Foundation started the campaign four years ago to generate funding for scholarships, fellowships and new construction. IU Spokesman Larry MacIntyre said the campaign asks donors to contribute a minimum of $50,000, which is invested and the interest is used for scholarships. IU will then match the amount of interest generated by the original donation, MacIntyre said.

Money from the campaign paid for sophomore Dominique McGee’s college expenses, including tuition, housing and books. McGee is part of the research scholar program, which is one of several programs funded by the campaign.

“It made all the difference in choosing a school,” McGee said. “Otherwise I wouldn’t be here at IU.”

McGee was one of the first five students selected for the research scholars program. More than 35 students have been chosen for the program this year, he said.

IU was not McGee’s first choice. She was accepted to Northwestern and Columbia, but chose IU because of the research scholars program.

“I think it will attract a lot more students who otherwise would be lost to schools like Northwestern or Columbia,” McGee said.

The IU Foundation is professionally advised and invests donations in things like stocks, bonds and foreign investments, said Kent Dove, senior vice president for development at the foundation.

“The original donation stays invested and keeps earning interest every year to provide scholarships every year,” Dove said.

The IU Foundation worked with a small group of prospective donors during the private phase of the campaign, Dove said. The foundation will now broaden the campaign through publicity to attract more donors. Keeping programs private until success is proven is a standard technique in capital campaign fundraising, Dove said.

“We’ve shown we can be successful,” Dove said. “That will encourage others to invest in the program.”

As of Monday, the campaign had generated $652 million of its $1 billion goal, according to a press release. The majority of these funds, though not all, have come from individuals, Dove said.

Jesse Cox, a Hamilton County entrepreneur who donated many gifts to IU in the past, is one of the campaign’s largest individual donors. He donated a total of $85 million to campaign, MacIntyre said. That money helped create the research scholars program.

The research scholars program is specifically for Indiana residents, but money from the campaign supports scholarships open to a variety of students, said Sarah Booher, IU Office of Scholarships director.

“Students who have worked hard and achieved academically can see that an IU education is within reach,” Booher said.

The “Match the Promise” campaign will continue until 2010.

“I hope the student body is appreciative of the fact that alumni and friends of the University care about making an education at IU accessible,” Dove said.