The
Campaign for the University of Virginia
has reached its $1 billion goal more than a year ahead of schedule,
President John T. Casteen III announced today. The fund-raising
effort was taken over the top by the largest gift in the University's
history, a $60-million contribution to the Darden
School from U.Va. alumnus Frank Batten.

Officially
launched Oct. 6, 1995, with a target of $750 million, the campaign
raised $350 million in its pre-kickoff phase. In February 1998,
as the campaign's growing momentum pushed it beyond $670 million,
the University increased the goal to $1 billion. To date, the
fund-raising effort has received nearly $1.036 billion in gifts,
pledges and deferred commitments.

"We
began this campaign with the purpose of securing our centers of
excellence and achieving a measure of stability and self-sufficiency
in a time of reduced state support," Casteen said. "The
campaign has made enormous strides toward fulfilling these goals,
but more important, it has given us the confidence to think boldly
about the University's future and to envision ways to build on
what our donors have enabled us to accomplish."

The
campaign's current total of $1.036 billion includes

$684 million for the 10 academic and professional
schools

$94
million for athletics

$61
million for libraries and museums

$35
million for the Jefferson Scholars Program

$17
million for the University's College at Wise

$10 million for hospitals and clinics

$7
million for preserving the Jeffersonian buildings and
grounds

$4 million for the Miller Center of Public Affairs

$3 million for the Alumni Association's endowment

Nearly
127,000 donors have taken part in the campaign, which has continued
to maintain a strong pace. The 1998-99 fiscal year was the best
ever for the fund-raising effort, generating $198 million in gifts
and pledges. In that same year, the campaign passed its $100 million
goal for future support, such as bequests and other estate gifts.
Many donors have participated through annual giving, which in
1998-99 provided more than $18 million in unrestricted support
for schools and programs at the University. The campaign is making
its most visible impact on the University's physical environs.
On the North Grounds, it has financed some 550,000 square feet
of new and renovated buildings for the Law School and the Darden
School. In athletics, it has made possible improved and expanded
facilities for football, baseball, lacrosse, soccer and other
sports.

In whole or in part, gifts to the campaign are funding such projects
as:

a biomedical engineering and medical sciences building now under
construction;

a research wing for the epartment of Environmental Sciences;

a new complex that will house the Albert H. Small Special Collections
Library and the David A. Harrison III Institute of American
History, Literature and Culture;

restoration of Pavilion VII; and

restoration of student rooms on the Lawn.

The
campaign has added $35 million to the University's general endowment,
and it has provided another $50 million in entirely unrestricted
funds. To date, the campaign has received gifts, pledges and deferred
commitments for 161 endowed professorships, 100 endowed fellowships,
and 596 endowed scholarships.

Although
the $1 billion goal has been achieved, the campaign is not over,
said Robert D. Sweeney, the University's vice president for development.
He noted that many of the campaign's goals remain unmet, and other
fund-raising priorities have arisen since the campaign began its
pre-kickoff phase in 1993.

"We
can all take pride in reaching this historic milestone, but our
job's not done," Sweeney said. "We still have to address
pressing needs in the University's core academic programs, and
we must ensure that the campaign attracts the broadest possible
participation among our alumni and friends. Every gift counts,
from annual contributions to gifts like Frank Batten's that are
transforming the University. We want everyone who values this
institution to share in the success of this effort."