Early in January of 2003, the Campaign for Duke reached $2 billion, becoming just the fifth American university to record that total in a single campaign.

While its goal was reached in the current year, the campaign's evolution roughly corresponds with President Keohane’s tenure. Planning began in earnest in 1994; the effort itself started quietly in 1996, was announced publicly late in 1998, raised its goal from $1.5 billion to $2 billion late in 2000, and reached its initial goal in the middle of 2001. It will conclude at the end of 2003.

When she joined campaign co-chairs Pete and Ginny Nicholas in announcing that the $2 billion mark had been met, President Keohane paid tribute to the "loyal efforts and generosity of tens of thousands of donors and volunteers," while noting that there were months to go and important priorities yet to fund.

Duke, she said, was "committed to creating an environment that nurtures superb learning, teaching, patient care, service to society and discoveries in many areas of our life and our world. This is why we undertook this ambitious campaign, and why we continue to seek funds to support the key priorities in our strategic plan for every school and for the university."

The campaign reached $2.1 billion by the end of the 2003 fiscal year. Funds received over the $2 billion goal went largely toward meeting the university's most pressing continuing needs: financial aid for students, faculty support, facilities and unrestricted use, all of which had accounted for about half of the first $2 billion.

The Campaign for Duke total is a combination of cash and commitments. Dollars received between July 1, 2002 and June 30, 2003 totaled $296.8 million, the second highest annual philanthropic giving in university history.

"We are grateful to Duke donors, who continue to make our university a high philanthropic priority," the president said, adding that the future "is made more promising literally daily by the ongoing generosity of so many who care so deeply about Duke."