After serving Waterloo, Dellandrea spent five years as president of the Mount Sinai Hospital Foundation. In 1994 Dellandrea returned to the University of Toronto to serve as its vice-president and chief advancement officer, a position he held for 11 years. The initial goal had been to launch a fundraising campaign for C$300 million to establish more endowed chairs and student aid. By the time the campaign was publicly announced in 1997, most of the $300 million had already been raised under the leadership of Dellandrea and then-President Robert Prichard. The goal was reset at $400 million, and then later reset at $575 million. By the 2000 departure of President Prichard, the university had raised $705 million. The campaign was extended to the year 2004, with a new target of $1 billion. Dellandrea and his team surpassed the $1 billion goal a year ahead of schedule, and the campaign closed in excess of $1.2 billion. The number of endowed chairs grew from 15 to 175, with an additional 80 joint hospital-U of T chairs established during the campaign. As a result of the campaign, endowed student aid rose from $68.7 million in 1995 to $463 million in 2004.