President C.L. Max Nikias announced on Wednesday that the Campaign for USC will reach its $6 billion fundraising goal nearly 18 months ahead of schedule, according to USC News. Due to its success, the campaign will be extended five more years through Dec. 31, 2021.
Half of the funds will go toward the University’s endowment, which currently stands at $4.6 billion. The remaining money will be used for new buildings, labs and expanding research. So far, the funds have created 100 new faculty positions, endowed 19 new research centers and institutions and raised USC’s financial aid pool to $330 million annually, according to the Los Angeles Times.
The Los Angeles Times reported that more than 322,000 people donated to the campaign. Non-alumni donations made up for 64 percent of the funds raised, while $2.2 billion was donated by alumni and $1.9 billion by parents.
The Campaign for USC aims to advance USC’s academic priorities and expand the University’s positive impact on the local and global community. When it began in 2011, the campaign was considered the largest fundraising goal in the history of higher education. It was also the third time USC had set a record-high campaign goal.
USC has raised as much money in the last 6 1/2 years as it had during the last 6 1/2 decades combined. Since 2013, USC has ranked in the county’s top three universities for annual fundraising, next to Harvard University and Stanford University.