John W. Shumaker was named the university's president in 1995. Shumaker was a very successful fund raiser, and quickly increased the school's endowment from $183 to $550 million. He developed the REACH program to encourage retention. In 1997, he hired athletics director Tom Jurich, who restored the athletics program and raised over $100 million to raze abandoned factories and old parking lots next to campus and replace them with on-campus athletic facilities, which vastly improved the aesthetics of the Belknap Campus. Academically, Louisville moved closer to parity with the state's flagship University of Kentucky as retention rates and research funding increased, and average GPAs and ACT scores were much higher for incoming freshmen.