VCU launches $1.8B fundraising campaign

Virginia Commonwealth University and VCU Health have launched the public phase of a $1.838 billion fundraising campaign — the largest fundraising effort ever undertaken by the Richmond university and its health system.

The effort, called Unlocking Potential: VCU‘s Campaign for the Future, was announced Thursday at a kickoff event at the Stuart C. Siegel Center.

“Unlocking Potential is more than a campaign — it’s a bold investment in people, research, health care and community,” said Jay E. Davenport, vice president of development and alumni relations, in a statement. “With the support of our benefactors, we will break down barriers, open doors to opportunity and shape brighter futures through transformative education, pioneering discoveries and world-class care.”

In an announcement, VCU said campaign gifts will help the university provide better access to education, fund innovation and research, support faculty and help the university sustain “institutional excellence.”

The university says it kicked off the leadership phase of the campaign on July 1, 2020, during a quiet phase when it raised $1.138 billion. The public portion of the campaign will run through June 30, 2030.

“As an alum, I know firsthand the difference VCU makes in people’s lives,” said Jonathan B. Perlin, campaign tri-chair and president and CEO of Joint Commission and Joint Commission International. “Serving as tri-chair of this campaign cabinet is my way of giving back and helping ensure that future generations of students, patients and communities can benefit from all that VCU has to offer. It’s an honor to help lead an effort that will create lasting impact.”

During the campaign, VCU also wants to encourage alumni and community involvement with the university and the health system.

The campaign is led by three tri-chair couples: VCU alum and best-selling novelist David Baldacci and his wife Michelle Baldacci, who both founded the nonprofit Wish You Well Foundation; VCU alum and Goodwill of North Georgia President and CEO Keith Parker and his wife Dawn; and Joint Commission President and CEO Jonathan Perlin and his wife Donna, both of whom are VCU alums.

VCU has more than 28,000 students across more than 220 degree and certificate programs. Based in Richmond, VCU Health has more than 800 physicians. It reported $3.54 billion in revenue for the 2023-2024 year, with net income of $442.5 million.