IUPUI set a record for fundraising at a public university in Indiana by announcing that it had raised $1.039 billion during its Campaign for IUPUI. The 7-year campaign was concluded on June 30, 2004 and the total was announced at a press conference on August 26 by IU President Herbert, IUPUI Chancellor Charles Bantz, IU Foundation President Curt Simic, and volunteer Campaign co-chair Steve Stitle, President and CEO of National City Bank.

The campaign brought in millions of dollars in gifts and grants for student financial aid, faculty endowments, academic programs, research, and for new and re-purposed buildings on the IUPUI campus. Some 70,507 donors supported the campaign. This first-ever comprehensive campaign for the campus marks the coming of age of an urban research university, and celebrates the partnership between the campus and the Indianapolis community.