A bold new era begins!
University of Miami launches billion-dollar fundraising campaign

Gala Evening Kicks Off Campaign The Convocation Center was filled with excitement as the University thanked its benefactors and launched the Momentum campaign. From top to bottom: Phillip Frost, (second from left) chairman of the University's Board of Trustees, joined the Miami Society with a $33 million gift to name the School of Music. President Shalala welcomes Harcourt Sylvester and family into the new Millennium Society. More than 700 guests were treated to a spectacular evening of live presentations, videos, and a performance by Cirque.

With more than 700 friends and supporters in attendance last night, the University of Miami officially launched the most ambitious and wide-reaching fundraising campaign in its history. The goal of $1 billion by mid-2007 makes Momentum: The Campaign for the University of Miami the largest campaign for any university in the state of Florida. UM is one of only 25 universities nationally engaged in a billion-dollar campaign.

To date, the campaign has already raised $552 million for endowment, program support, and capital projects, and includes a $33 million gift from Phillip and Patricia Frost (see below).

At the kickoff event, the University celebrated its benefactors by inducting them into donor societies and announced the creation of two new donor societies. The Miami Society recognizes those who have committed $10 million or more, and the Millennium Society honors those who have contributed $50 million or more. The Diabetes Research Institute Foundation, the Buoniconti Fund to Cure Paralysis, and The Harcourt M. and Virginia W. Sylvester Foundation are the first three members of the new Millennium Society.

"This campaign is about people," said President Shalala. "It is an opportunity for those who care for the University of Miami to step up and help us accelerate progress, empower learning and discovery, and intensify our impact on people in our city, across the country, and around the world. Campaign gifts to endowments, facilities, and programs will open doors of higher education for all students and ensure their success in learning and life."

School of Music named for Phillip and Patricia Frost
One of the big announcements at last night's campaign launch was that the School of Music has received a $33 million gift from philanthropists Dr. Phillip and Patricia Frost. The gift, which will name the School of Music in their honor, is one of the largest gifts from an individual received by UM and is the largest ever made to a university-based music school in the United States.

The school will be named the Phillip and Patricia Frost School of Music. The gift will also fund programmatic endowments, faculty chairs, student scholarships, and facilities.

The Frosts are well known throughout the community for their generous support of education and the arts. Dr. Frost is chairman and CEO of IVAX Corporation, a Miami-based, publicly traded, multinational pharmaceuticals company. He is chair of UM's Board of Trustees and chair of the Campaign for the University of Miami. Mrs. Frost is a retired educator who served for more than 20 years as principal of West Laboratory Elementary School located adjacent to UM's Coral Gables campus. Mrs. Frost is also the chairman of the Smithsonian National Board and the Commissioner Emeritus of the Smithsonian American Art Museum, a member of the Florida International University Board of Trustees, and past chair of the Florida International University Foundation.

"This landmark gift by Dr. and Mrs. Frost represents the most significant chapter thus far in their ongoing dedication to and support of our important work. This gift is the confluence of shared dreams, vision, commitment and generosity," said William Hipp, Dean of the School of Music.

Follow the campaign online at the new Momentum Campaign Web site
Gift announcements and updates may be found online throughout the campaign by visiting the newly launched web site, www.miami.edu/campaign.