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The Sentinel

An Eye on the Penn State Administration

Penn State Aims To Raise Another $1 Billion In Latest Campaign

Peter Tombros, a Penn State alumnus who previously served as the executive vice president of Pfizer Pharmaceuticals and the CEO of Enzon, a biotechnology firm, was named as chairman of the next capital campaign. The goal of Penn State’s newest Capital campaign is to raise over $1.37 billion for scholarships, endowed chairs, research and “other university purposes.”

While the new campaign that Tombros will spearhead has not yet been named, it’s interesting to note that President Spanier’s last capital campaign — which he dubbed the “Grand Destiny” campaign — raised over $1 billion from 1996-2003. It took Spanier seven years to raise that billion dollars, and while he was doing it he was also putting us in over $1 billion in debt thanks to unending building projects.

It’ll be fun to see how Tombros does in this position, and whether or not he’ll be able to continue to raise or even surpass the kind of money Spanier brought in during the Grand Destiny campaign. Either way, it’s good to see that this money is headed toward scholarships and endowments rather than bricks and mortar.

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