United Way smashes fundraising record

United Way of King County announced the result of a record-breaking fundraising campaign Thursday -- a total of $121 million.

It is by far the largest amount raised in the organization's 86-year history, surpassing the 2004-05 fundraising campaign by $20 million. Last year, the campaign returned $39.5 million.

"We are fortunate to be among the most generous people in the world and the smartest philanthropists," said campaign coordinator Jeff Raikes, president of Microsoft Corp.'s Business Division. Raikes, along with his wife, Tricia, set out to achieve banner results but exceeded their goal by $12 million.

They were "humbled and amazed by the generosity of the people and companies of King County," Tricia Raikes said.

United Way staff members intend to use the money to help curb homelessness in King County and to help prepare disadvantaged children for school.

In an internal e-mail, United Way spokesman Jared Erlandson said the 2006-07 campaign's success positions the King County organization as "the number one fundraising United Way not just in the country, but in all of North America."

That could be largely because of corporate sponsorships; Safeco and Paccar joined Boeing, Microsoft and Nordstrom as "million dollar supporters," a statement from United Way said. The Seattle P-I is also a corporate supporter of United Way.

Of the total raised, $22.5 million is earmarked for the Gates Challenge Endowment, which offsets the organization's costs of operation.