On July 1, President Gillis announces Rice's 1st comprehensive fund-raising initiative -- "The Next Century" -- a $500 million 6-year capital campaign. When only $445 million is raised by July 2003, Gillis extends the deadline indefinitely, citing the 2001 economic downturn and the ambitious inaugural goal. In July 2004 the campaign announces it has exceeded its goal and raised $502.7 million.

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