Colby College has fundraised more than $1 billion for its Dare Northward capital campaign, college officials announced Wednesday.

Since its establishment in 2017, more than 32,000 people have donated to the campaign, which Colby called “the most successful campaign at a liberal arts college.” Originally, Colby — a private liberal arts college in Waterville with about 2,400 students — set the campaign goal at $750 million; it surpassed that level in 2023 and reset the goal to $1 billion.

The campaign, the college said in a news release Wednesday, has helped prop up generous financial aid offerings, build the Harold Alfond Athletics and Recreation Center, funded 60 new faculty and allowed Colby to invest more than $250 million into downtown Waterville.

“At a time when the national narrative is about a lack of support for higher education, the Colby community has stepped forward to demonstrate the power of commitment and philanthropy to transform their college, the very essence of a liberal arts college, and the capacity for private institutions to act in the public interest,” Colby President David A. Greene said in the news release. “In the final phase of the campaign, our focus will be on excellence in science, technology, innovation, and financial aid, essential ingredients for a great liberal arts college now and into the future.”

The campaign will end in December 2027, and surpassing the $1 billion goal positions the college as a “global pacesetter in higher education,” the college said in the release. The initial $750 million goal already made Dare Northward the most ambitious fundraising campaign in liberal arts college history, the college said.

Colby officials recently announced the college had received a $150 million anonymous donation, the largest gift in its history, which it plans to use to build a brand-new on-campus science complex.

And in August, Colby released its economic impact study, which showed the college has added $2.5 billion to Maine’s economy since 2019.

“The Colby community always rises to the challenge, and I have no doubt that it will continue as we push forward on a dynamic vision for the liberal arts that is affordable, deeply connected to the world, and preparing students to lead in a rapidly changing world,” Greene said in the release. “We could not be more grateful for this support.”