Columbia will not disclose the amount of money raised at the president’s investiture despite previously announcing totals from other fundraisers.
The college shared fundraising totals tied to major events in the past, including more than $640,000 raised at its December 2024 Persistence Gala, an annual fundraiser for student scholarships that had been planned for this spring but was postponed due to the investiture.
Student Government Association Executive Vice President Amelia Lutz said she understands the decision but emphasized the importance of transparency with students.
“That starts with at the very least explaining their reasoning behind the decisions they make to the student body when the information behind the decision isn’t confidential,” Lutz said.
The college invited past gala supporters to the March 5 investiture recognizing President and CEO Shantay Bolton as the college’s 11th president. The event program included information about the Renaissance Innovation for Student Excellence Fund, or RISE Fund, a discretionary fundraising initiative tied to Bolton’s “Renaissance Rising” strategic plan.
College officials said the decision not to disclose how much was raised reflects how the fund is structured.
“The RISE Fund is different in that it’s an ongoing fundraising effort, not a singular fundraising event. This means that fundraising for the RISE Fund started before the investiture and will continue beyond the investiture,” Aubrie Willaert, vice president for development and alumni engagement, told the Chronicle in an email.
Willaert, who was the executive director of advancement and alumni relations for the Eastman School of Music at the University of Rochester, joined the college in January.
“Announcing fundraising goals or totals tied to ongoing efforts isn’t a common practice. This is because, by their very nature, they aren’t built to make a big newsworthy splash, but to encourage sustained and ongoing support,” Willaert said.
The college has said it may release figures when doing so advances fundraising goals. Lambrini Lukidis, associate vice president of strategic communications and external relations, told the Chronicle before the investiture that the college would share financial progress “when it can be beneficial to the overall fund goals. For example, to help build momentum or to share a significant gift made.”
At the investiture, Bolton announced that the annual Darkroom benefit auction at the Museum of Contemporary Photography raised over $435,000, making it the most successful fundraising in the history of the event.
The investiture occurred as the college addresses its 20-year enrollment low and $40 million deficit.
In response to the deficit, the college underwent major restructuring and laid off 48 full-time faculty members in 2025. This week, the college laid off three senior administrators, including former interim president and CEO Jerry Tarrer, as the Chronicle previously reported.
The college did not hold its annual persistence gala this academic year. The gala raises funds to support Persistence Scholarships, which are awarded to students who face financial challenges that put them at risk of not finishing college.
College officials said the decision to pause the annual fundraising event this academic year is part of a broader effort to restructure philanthropic strategy under Bolton’s administration, which created the RISE Fund.
Bolton promoted the fund at the State of the College address in October after announcing that the deficit had grown to $40 million.
At the end of her speech, underscored by the song “Rise Up” by Andra Day, Bolton urged faculty, staff and administrators to put on a blue “Renaissance Rising” bracelet that had been distributed before the event. The music continued to play as Bolton spoke, and a QR code linked to the RISE Fund donation page was projected behind her.
Bolton made no such appeal during the investiture ceremony. The gala was originally planned for the evening of the investiture but was cancelled.
According to the donation page on Columbia’s Development and Alumni Relations website, the RISE Fund supports “tuition scholarships and innovative academic programs; career-defining internship opportunities and competitions; or critical student needs, including mental health and emergency support,” allowing students to focus on “creativity, discovery, and innovation.”
That description has been revised since the Chronicle last reviewed the page on Feb. 27.
At that time, the fund was described as supporting initiatives “at the intersection of art, AI, and emerging technologies,” as well as faculty and student research, industry partnerships and targeted scholarships.
Copy edited by Katie Peters
