The chair of URI’s upcoming capital campaign discusses goals and strategy.
Why is the busy president of the nation’s leading pharmacy retail chain willing to direct a large, comprehensive campaign now?
• I agreed to chair the campaign for two reasons. First, I believe in URI and where it is heading. And second, quite frankly, I was asked by President Carothers, a person I respect for what he has accomplished at URI.
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What is the core goal of the campaign?
• The core goal of the campaign is to begin to fund an endowment for the future of our University. As most of us know, we cannot rely on state funding, which is down to about 18 percent of URI’s annual budget. We must build a self-sustaining foundation and endowment to help support our faculty and students, and to help continue URI’s strong and growing research efforts. This campaign is no different than those of other prestigious state schools—like the University of Delaware, New Hampshire, Massachusetts, or Connecticut—that have learned to aggressively reach out beyond state funding to build for the future.
How does the Making a Difference campaign dovetail with major capital improvements on campus?
• If you visit any thriving educational institution across this country, you will usually find a variety of construction activities: new dorms, academic buildings, athletic facilities, etc. Like any busy university, URI must reinvest and update its facilities. We are competing for the best students each and every year. And the first impressions of student prospects continue to center on campus residence halls, cafeterias, and academic and athletic buildings.
What is your strategy for moving the campaign forward and reaching the goal?
• The first part of the strategy was to put together a world-class campaign leadership committee. We tried to get a mix of alumni from across classes, disciplines, and geographic regions, all with one thing in common: the best interest of our University at heart. All are talented and successful in their own fields, and they are proud of their University.
The second part was to bolster the fundraising organization to lend support and organization to our tremendous network developed through our campaign committee.
The last part was to coordinate all the University fundraising efforts and communications to all the alumni and investment partners about the campaign. We want to make sure we are complete without being redundant.
How do you see your role? Do you plan to visit potential donors—individuals and corporations?
• My role as chair of the CLC is to ensure that each member of our leadership committee is assigned people and/or companies that make sense so that we can maximize our collective network across the country. I will, of course, make my calls and personal visits where asked and appropriate.
You are a graduate of the College of Pharmacy. How will it benefit from the campaign?
• All of URI, including the College of Pharmacy, will benefit from this campaign, and the communications will not differ substantially from college to college. That being said, I intend to put out a special challenge to the College of Pharmacy graduates to help support this campaign, and I know they will respond.
What do you think of the economic climate in which this campaign is being run?
• I have never heard a campaign leader say it is a “good” climate for fundraising. The reality is that today, more than ever, organizations, non-profits, and educational institutions are heavily competing for dollars from potential donors. We have a good story to tell. We just need to get out there and tell about our University.‡
Introducing the Making a Difference Leadership Committee
Front row, left to right: Stephen M. Cunningham ’76, managing director, head of corporate finance and M&A for Latin America, Deutsche Bank; President Robert L. Carothers; Campaign Chair Thomas M. Ryan ’75, Hon. ’99, chairman, president, and CEO, CVS Pharmacy; Joseph G. Formicola ’69, president, Executive Investments & Realty Co.
Back Row, left to right: Associate Vice President for Development Paul Witham; Vice President for Advancement Robert Beagle; URI Foundation Immediate Past President Dan Pendergast ’59; Michael Fascitelli ’78, president, Vornado Realty Trust; Gary Bowen ’68, principal, Technology Investments; Thomas J. Silvia ’83, vice president, bond group leader, Fidelity Investments; Richard Harrington ’73, Hon. ’02, president and CEO, Thomson Co.; Cynthia Marcille Deysher ’78, president, Deysher Advisory Services; Laura Ramsdell Cunningham ’77, principal, Ramsdell Cunningham & Co.
Not in Photo: URI Foundation Board Chair Mary F. Carmody ’82; Shannon E. Chandley ’83; President, URI Foundation Glenn Kerkian; URI Alumni Association President Peter J. Miniati III ’85, vice president, trust & investment services, Washington Trust Co.; Alfred J. Verrecchia ’67, M.B.A. ’72, Hon. ’04, president and CEO, Hasbro, Inc.
Photos by Nora Lewis
