Saint Peter’s University launches $75 million fundraising campaign

Saint Peter’s University launched a $75 million fundraising campaign Friday evening with goals of funding upgraded facilities, more scholarships and general, annual needs of the campus.

The campaign piggybacks off a more private fundraising effort that has secured $70 million over the last six years and is the largest in the Jersey City institution’s history.

“This is really preparing the university for the next 150 years,” President Eugene Cornacchia said.

The university plans on using some of the funding raised to continue renovations of the Yanitelli Recreational Life Center, which recently had the Run Baby Run Arena and hall of fame completed.

“There are parts of it that really haven’t seen any TLC in probably 35, 40 years,” Cornacchia said. “The standard we set with the arena is what we want to follow.”

The fundraising campaign comes on the heals of the men’s basketball team’s Cinderella run to the Elite Eight of the NCAA Tournament that garnered national attention in March of this year.

It will also set out on more technical renovations on the west campus, such as electrical and HVAC upgrades.

Saint Peter’s also hopes to expand its financial support to prospective students of a slightly higher socio-economic status than the many who qualify for financial aid. That will in part be accomplished by expanding funding for its Gateway Tuition Program, which often provides scholarships between $500 and $3,000, Cornacchia said.

“As we move up the socio economic ladder we assume that students who have what we might consider middle class income levels can afford college education, but actually they have struggles too,” the president said.

Other priorities will include funding programs that are already prides of the university, like the honors program and business school, as well as needs that come up suddenly, as the university experienced during the COVID-19 pandemic.

The campaign, called “Peacock Rise,” was launched Friday at a ball for donors.

“I think we’re all here committed to really blowing past our goals,” Cornacchia said.