In spite of the tough economy, the College was able to hire eight new faculty members this year as a result of the Capital Campaign's success.
"[The College] planned to add faculty in areas as determined by the deans," said Senior Vice President for Planning & Development and Secretary of the College Bill Torrey. After conducting a national search, professors were "added as money came in."
According to Torrey, each new faculty member was hired at "$2.5 million a piece," for a total of about $20 million spent on professorships.
The College's five-year fundraising campaign, which ran from July 1, 2004 to June 30, 2009, raised a total of $293 million, exceeding the original $250 million goal.
According to Torrey, money primarily came from alumni as well as several organizations, for a total of 17,000 gifts.
The Campaign Planning Committee, which consists of President Barry Mills, faculty, staff, trustees and student representatives chosen by the Bowdoin Student Government, began meeting in 2002, well before the launch of the campaign in 2004.
According to Torrey, of the total $293 million approximately one hundred million was alotted for financial aid. The rest of the funds were distributed to accomodate various renovations, construction and funding on campus.
In addition to the $20 million for new faculty, $15 million was alotted for the Studzinski Recital Hall, $14 million for art museum renovations, $30 million for the new ice hockey rink and fitness center, $3.5 million for the Center of Common Good, $50 million for Annual Giving, which went directly into the operating budget, and $9 million for an enhanced sabbatical leave program for faculty.
The remaining balance was directed towards "other needs in student affairs, academic program, or other priorities," wrote Torrey in an email to the Orient.
"When we went into the campaign, we had goals in these areas," said Torrey. "It's fair to say that the campaign put the College in a much better financial footing."
Though the college was able to hire new faculty, "the College is being very careful about adding staff," wrote Vice President for Communications and Public Affairs Scott Hood in an email to the Orient.
"When vacancies occur, administrative departments are expected to take whatever measures possible to reorganize functions rather than replacing positions," said Hood.
"The campaign doesn't solve all the problems, but it certainly put us in a better position than if we hadn't had it," said Torrey. "We were fortunate in terms of our timing."
According to Torrey, peer schools have adopted similar fundraising strategies.
Williams just finished a campaign last year; Colby is in its final year of campaigning; Bates, Amherst, and Middlebury are each in the middle of a campaign.
Given the success of this large-scale fundraising effort, Torrey said, "it's inevitable that there will be a next campaign."