Assumption University’s $35M fundraising effort exceeds goal by $15.6M
Photo | Assumption University
Host Dennis House ’85, chief political anchor of WTNH-TV Connecticut’s ABC Station, addresses attendees at Assumption University.
Assumption University on Friday held a special gala for alumni, faculty, and other donors who helped support its seven-year Light the Way campaign, which saw $50.6 million in funds raised to improve infrastructure and the endowment of the Catholic institution.
The $51 million is exceeding the campaign’s original goal of $35 million, and provided enough funds for the school to officially transition from college to university in 2020. The four stated aims of the campaign were to build a new academic center, athletic facility improvements, as well as increasing resources for the endowment and The Assumption Fund, which provides scholarships and financial aid.
“The overwhelming support of the Assumption community and alumni made this campaign a success,” Michael Sullivan, an Assumption alumnus who served as co-chair of the campaign, said in a press release. “The $50 million in capital contributions will position the university well to serve its current and future students’ needs as they prepare to make a meaningful difference in the world.”
With the funds raised, the school has constructed the Tsotsis Family Academic Center, containing 13 new classrooms and a performance center, and the Richard J. and Sophia Catrambone Health Sciences Center, which was built in 2020 and houses the school’s nursing program.
The additional infrastructure allowed then-Assumption College to split its programs into five distinct schools for business, nursing, liberal arts, health science, and graduate studies. This allowed the school to receive university status in 2020.
Friday's event highlighted Assumption University President Emeritus Francesco Cesareo, who retired at the end of the academic year. His efforts were cited during the gala as essential to the successful fundraising campaign. The university announced it was renaming its South Hall student housing building to Cesareo Hall.
“Each of these projects were more than bricks and mortar, but reflected a particular vision that I had which spoke to the education we offer to our students and the purpose of Catholic liberal education and our mission as a Catholic institution,” said Cesareo in a prepared statement. “The true essence of this campaign and its priorities was the students – this was a student-centric campaign which was only fitting since my presidency was always student-focused.”
The university managed to achieve its goals in spite of the COVID-19 pandemic, which affected the last two years of its fundraising campaign. Of the money raised, $500,000 went to the school’s Coronavirus Financial Aid Relief Fund to help students and their families impacted by the pandemic.
CORRECTIONS: A previous version of this story incorrectly said the Assumption University gala was Saturday and the amount raised was $50 million. The gala was held on Friday, and the amount was $50.6 million.
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