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UVa expects capital campaign to hit $3B in spring

Monday - 9/17/2012, 3:30am  ET

CHARLOTTESVILLE, Va. (AP) - The University of Virginia expects its capital campaign to reach its $3 billion goal next spring, more than a year later than originally planned.

The university began the campaign in 2004 and planned to conclude it at the end of 2011. But it was extended when the goal wasn't reached.

The Daily Progress ( http://bit.ly/RfbQPe) says senior vice president Robert D. Sweeney attributed the campaign's struggles to two factors during a Board of Visitors meeting on Friday.

Sweeney says consultants suggested that the campaign needed a $100 million gift but U.Va. officials thought they could offset that with gifts of $10 million and $20 million.

He says the economic downturn also was a factor.

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Information from: The Daily Progress, http://www.dailyprogress.com


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)