The University of Alabama broke its yearly institutional fundraising record, receiving $226 million in gifts and pledges during fiscal year 2022.
The record-breaking fundraising year, which includes contributions from nearly 60,000 donors, follows the one-year anniversary of the public launch of The Rising Tide Capital Campaign. UA’s campaign is a $1.5 billion effort to bolster student scholarships, faculty research, campus facilities and athletics.
In its seventh year of the 10-year campaign, the Rising Tide has raised more than $1.16 billion, according to UA.
UA President Stuart R. Bell attributed the campaign’s success to the university’s community and dedicated donor base.
“UA’s extraordinary fundraising success is a direct reflection of how our faculty, staff, students, alumni, donors and friends steadfastly support our mission and vision,” said Bell in a release. “Our stature as a leader in higher education continues to be enhanced by the generous philanthropy of our many stakeholders, and as a result, our students reap the rewards of the Alabama experience.”
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Since 2018, UA has set a five-year fundraising average of $205 million annually. This figure was half the current number before Bell’s tenure as president.
This year’s fundraising haul was bolstered by the Smith family’s $20 million gift commitment to the Performing Arts Academic Center. Pending approval by the UA System Board of Trustees, the building will be named the Smith Family Center for the Performing Arts.
The Smith family’s gift honors Mark Smith, co-founder of the Huntsville global telecommunications company Adtran. Smith died in 2007.
Smith’s son, Clay, who made this gift along with members of his immediate family, touched on his father’s love for the arts.
“Our family’s passion for the arts goes back many generations,” he said. “Music and the arts have impacted our family tremendously. They defined my father, and they helped define me. To give back to the community in this way while honoring my dad’s memory is incredibly rewarding.”
The Smith Family Center for the Performing Arts, which will connect to the restored Bryce Main, will house four performance theatres for the department of theatre and dance as well as UA’s new Catherine and Pettus Randall Welcome Center in Bryce Main.
According to UA, the institution’s goal is to create 75 endowed faculty positions by The Rising Tide’s conclusion in 2026
In 2021-2022, five chairs and professorships were committed across five academic departments, which was made possible by $3.6 million in contributions.
Endowed chairs and professorships committed in 2021-2022:
- Robert and Laura Abernathy Endowed Chair in Medicinal Chemistry
- Bromberg Family Endowed Professorship in Marketing
- Christian Mitchell Endowed Professorship in Real Estate
- William B. Oakley Endowed Professorship in Information Technology
- Sidney A. and Angela B. Tankersley Endowed Professorship in Metallurgical Engineering
Gifts received under the 2022 Bama Blitz online crowdfunding campaign played a significant role in the institution’s record-breaking year, according to UA. This campaign also set a record, raising nearly $6.2 million in three days with 93% of gifts at $500 or less.
Bob Pierce, vice president for advancement at UA, said the university’s donor base were “changing the lives” of students at the Capstone.
“We have truly incredible alumni and donors at The University of Alabama,” said Pierce. “To be at this point of The Rising Tide and to continue setting fundraising records is a testament to the dedication of our supporters and their passion for the Capstone. They are transforming the university and changing the lives of our students through their philanthropy.”
Dylan Smith is the editor of Yellowhammer News. You can follow him on Twitter @DylanSmithAL
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