Michigan Medicine nets $1.4 billion from massive university fundraising campaign
University of Michigan raised $5 billion, with more than $1.4 billion to be directed to advance patient care, research and education.
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The University of Michigan made history with its recent fundraising campaign, raising a record $5 billion, and more than $1.4 billion will be directed to Michigan Medicine for the purpose of advancing patient care, research and education. The fundraising campaign involved more than 382,000 donors, with 94 percent giving less than $5,000.
THE IMPACT
University of Michigan is the first public university to raise $5 billion. More than $1.4 billion will be directed to Michigan Medicine, a system that serves more than 2.3 million patient visits per year. The funds especially take aim at cancer care.
THE TREND
As is often the case with larger gifts, there will be at least two newly branded cancer care and research facilities named either for the donors who made them possible or whose story inspired their creation.
The $1.4 billion in funds will cover a range of efforts, including establishing the Chad Carr Pediatric Brain Tumor Center at the U-M Health System. According to U-Michigan, the center is named for Chad Carr, the grandson of former U-M football coach Lloyd Carr, who died of an incurable brain tumor in 2015.
"The gifts assure the youngster's name will be synonymous with research to fight the lethal pediatric brain cancer," the system said by statement.
Cancer care will get still more focus in the form of the newly dubbed The Rogel Cancer Center, named for donors Richard and Susan Rogel, who committed $150 million in March. The funds will enable Michigan Medicine to draw on its collaborative research culture to propel cancer research.
Specifically, the money will fund competitive grants to collaborative research teams working on advancing early cancer detection, monitoring and treatment; establishing a signature program that brings international luminaries in the cancer field to U-M for six to 12 months to develop new projects that will continue after they leave; the recruitment and retaining of dynamic researchers to pursue high-risk, high-reward projects; establishing endowed professorships in cancer research and supporting the development of independent research careers for a team of advanced postdoctoral cancer research scientists whose work "shows signs of great promise."
The funds will also be used for scholarships to enable medical students and other predoctoral trainees to develop the skills and knowledge they need.
ON THE RECORD
"It has been my honor and privilege to bring people together to support the amazing work happening at U-M. I'm excited to see how much more impact we can create in the next three months," said Rich Rogel, campaign co-chair and chair of both the Michigan Medicine portion of the campaign and the Global Student Support committee.
Twitter: @BethJSanborn
Email the writer: beth.sanborn@himssmedia.com
