Most students, when presented with scholarships, or loans, or even classroom buildings and equipment, do not stop to think about where the money for those opportunities comes from. The entire campus has heard about last year’s anonymous donation of $360 million, but many do not consider the work that went into organizing that endowment. Fundraising is an integral part of every institution, and RPI has just reorganized their department to allow it to “focus on key areas,” as the office of Individual and Organization Advancement’s new director, Bill Shumway said.
These days, the much-hyped Rensselaer Plan is governing much of the Institute’s activities, and fundraising is a crucial part of that plan. “It is definitely an exciting time for Rensselaer,” said Shumway. With new buildings in the works, the office is looking for alumni and organizations to provide unrestricted endowments for new conference rooms and laboratory areas, having that space named after them in return. At present, all of the rooms in the new Biotechnology Center have been named, but the process continues for the Experimental Media and Performing Arts Center.
Previously, the donations process at Rensselaer was divided into two distinct offices: one for individuals, and one for corporations and other domestic and international organizations. These two have now been reorganized and fall under the heading of a new Office of Individual and Organization Advancement. There will still be two specialized offices, each with their own directors, budgets, performance reports, etc., but allowing them to work more closely together will be of greater benefit to the Insititute.
“The new strategy sessions are both helpful and incredibly important,” explained Shumway. “The two offices will now work together to find new ways to create fundraising opportunities.”
Also among the reasons for the reorganization are corporations that employ large numbers of RPI graduates, such as IBM. A good number of IBM executives are Rensselaer alumni, and the new office will be able to work more personally with them to coordinate donations from both the corporation as a whole and individual grants from the executives themselves.
Other projects for the new office include raising support for endowed chairs to present to the new constellations and other future faculty. They are also focusing on collecting funds for scholarships. Scholarships are necessary, Shumway noted, in order to allow Rensselaer to “continue to attract the highest quality [students].”
