Pickens' challenge leads to $191.5M for OSU scholarships
Thursday, April 28, 2011
Oklahoma State University (OSU) Foundation credited the Pickens Legacy Scholarship Match (PLSM) program with raising $191.5 million for student scholarships in connection with the University’s $1 billion Branding Success campaign.
The PLSM program was announced on Feb. 26, 2010, with an initial $100 million challenge gift from OSU alumnus, philanthropist, businessman and one of the leading energy voices in America, T. Boone Pickens. Pickens increased the challenge gift by $20 million in January 2011 when he learned the match initiative had generated a record number of qualified gifts. These matches and gifts boost the Branding Success total past $374 million toward the $500 million goal for scholarships.
“The Pickens Legacy Scholarship Match program has been an incredible success,” commented Ross McKnight, who co-chairs the Branding Success campaign along with his wife Billie. “The Pickens Match program was the big reason we raised a record level of gifts and pledges for scholarships in a relatively short period of time. It was a brilliant idea and it exceeded everyone’s expectation. We are appreciative to Boone for his indescribable generosity to OSU and the 2,665 donors who stepped up to meet his challenge. We have now raised more than $735 million toward our overall $1 billion goal.”
Pickens, when he learned the amount of money raised as a result of his scholarship challenge gift, said he never doubted OSU supporters would meet his challenge. “This place is special. It is good to see many OSU grads and friends getting behind the campaign. They love OSU, just as I do, and they want it to be the best in everything – academically and athletically,” Pickens said. “We enjoy strong leadership at OSU, and the leaders have big plans. They need resources to expand opportunities for aspiring students from across Oklahoma, this country and around the world. Now, we will have the money to make it happen and move OSU to the top.”
The scholarship match is Pickens’ second match program at OSU. In 2008, OSU President Burns Hargis announced a $100 million gift from Pickens to endow faculty positions. That matching program is credited with raising an additional $68 million in 40 days. The gifts, commitments and matches have created 123 new chairs and professorships to date.
“We are very pleased with where we are in our campaign to raise $1 billion for student scholarships, professorships, research and new facilities,” commented Hargis. “While we have already raised more money through gifts and commitments than ever before, I am most pleased we have also had a record number of donors, particularly new donors, investing in OSU. Every gift or commitment matters. Boone’s gifts have inspired many and instill confidence in the future. Our commitment at OSU is to prepare our students to succeed by creating an engaging educational experience, encouraging the exchange of ideas and sharpening their critical-thinking skills. This commitment requires a significant investment of resources. The Branding Success campaign will provide us the additional resources we need to elevate our support for students and faculty members. Now, our future is brighter than ever.”
The OSU Foundation reports more than 660 new scholarship and graduate fellowships have been endowed since the start of the campaign, including 316 added as part of the Pickens Legacy Scholarship Match. Eighty existing scholarships also benefited from Pickens’ challenge.
“Scholarships are the top priority in our campaign,” noted Kirk Jewell, CEO and president of the OSU Foundation. “We never want the lack of financial support to stand in the way of students earning a degree from OSU.”
For more information about Branding Success: The Campaign for Oklahoma State University, visit www.OSUgiving.com.