ANN ARBOR—The University of Michigan has reached its $1 billion goal for the Campaign for Michigan. This has been accomplished with 17 months remaining until the official end (Sept. 30, 1997) of the five-year public fund- raising campaign.

“The spectacular achievement of reaching the $1 billion total, the first for a public university in America, is the result of exceptional teamwork on the part of our nationwide network of volunteers, our many generous alumni/ae and friends, and our deans, faculty and development staff,” U-M President James J. Duderstadt said.

To date, the Campaign total stands at $1.02 billion, including $809 million in new gifts and pledges and $215 million in new bequest intentions. The gifts will provide support for faculty and students and will advance a wide variety of research and other program initiatives in the University’s 18 schools and colleges on the Ann Arbor campus and on its Dearborn and Flint campuses. A major remaining goal of the Campaign is to raise an additional $100 million in endowment gifts in the months left in the campaign.

“The $240 million in endowment gifts that has already been raised represents the largest endowment gift total ever achieved in a Michigan campaign,” Thomas C. Kinnear, U-M vice president for development, said. “But because of the importance of endowment to the assurance of excellence in teaching and research and to the University’s future financial stability, we will redouble our efforts to achieve the Campaign goal of $340 million in endowments. Based on the strength of Michigan’s case for private support and on the continuing momentum of this highly successful Campaign, I have great confidence in our ability to reach this important endowment goal in the time remaining in the Campaign.”

Volunteer co-chairs of the Campaign for Michigan are Allan D. Gilmour (M.B.A. ’59) of Dearborn, Mich., retired vice chairman of the Ford Motor Company and director of Ford; J. Ira Harris investment banking firm of Lazard Freres and Company; Margaret A. Margaret D. Towsley Foundation and trustee of the Herbert H. and Grace A. Dow Foundation; Glenn E. (Bo) Schembechler of Ann Arbor, Michigan’s former head football coach and athletic director; and Mike Wallace (A.B. ’39; honorary law degree ’87) of New York, correspondent with CBS News/60 Minutes.