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ORU Trustees Announce Allocation of Gift, $25 Million Matching Campaign

In an executive committee meeting last week, the Oral Roberts University Board of Trustees approved the allocation of the $62 million gift from the Green family and approved a $25 million matching campaign for ORU alumni, donors and friends.

Plans were made to pay down $30 million of long-term debt incurred by the university. This figure includes $7.5 million approved to pay debt in the last meeting. This will bring ORU’s outstanding debt down to $25 million.

The remaining $32 million was allocated to a number of other needed items. These include campus renovations, technology upgrades, academic enhancement, financial aid for new and returning students, marketing and operations.

The ORU Board of Trustees also approved a new fundraising campaign for alumni, current donors, ministers, and other friends of the university. The “Renewing the Vision” campaign will encourage these groups to give to projects at the university such as establishing endowed scholarships, attraction and retention of faculty and staff, academic program upgrades, and other campus improvements. For every dollar given by friends of ORU, the board of trustees will give a dollar toward the remaining debt, up to $25 million.

“We want the ORU family to be able to give to the items that will strengthen the university, so they can see the results of their gifts. If they can step up and commit to helping ORU, the trustees will take on the debt,” said Mart Green, chairman of the ORU Board of Trustees.

Another goal set for this campaign is to encourage 20,000 individual donors to invest in ORU. The campaign will run through December 31, 2008.

For more information on this campaign or to give, go to www.oru.edu.