|
A List
7/2/07
SLU MEETS KRESGE CHALLENGE: OVER $4 M RAISED GETS $1 M GRANT
CANTON - St. Lawrence University has met the Kresge Foundation Challenge, raising
over $4.5 million by April 1, 2007, which means a $1 million grant from the foundation.
A total of 699 donors responded to the challenge,
to raise over $4.1 million in
new gifts and pledges for construction of the
new 115,000-square-foot Johnson Hall
of Science, set to open in the fall. The goal was exceeded, with the grand total
reaching $4,566,106 from 37 members of the University's Board of Trustees; 72 faculty
and staff; 18 corporations; 561 alumni, parents, and friends; and 10 foundations and
organizations. The fundraising challenge was initiated in September of 2005, when the
Kresge Foundation approved a $1 million challenge grant.
Upon meeting the Kresge Foundation fundraising challenge, St. Lawrence
President Daniel F. Sullivan stated, "St. Lawrence is grateful to the hundreds of donors
who responded to this significant fundraising challenge and helped us achieve
success. We are also grateful to the Kresge Foundation for providing the generous
leverage of a $1 million grant to inspire gifts to this important project."
The Kresge Foundation $1 million grant will support construction costs for the
Johnson Hall of Science, estimated at approximately $36.9 million. Gifts in
response to the challenge supported construction costs, science operating
expenses, and endowment for the sciences and other academic priorities.
President Sullivan continued, "We are a stronger institution as a result of the
financial support raised and the excitement generated through the Kresge Foundation
Challenge. St. Lawrence students, faculty and our broader community will benefit
for many years to come from the increased resources made possible through Kresge
Foundation Challenge gifts. We extend our heartfelt thanks to everyone who
participated in this wonderful accomplishment."
When the University officially received notification of the grant, John E.
Marshall III, president and CEO of the Kresge Foundation, explained why
St. Lawrence and was among the organizations selected in the competitive
process. "This diverse group is responding to the new challenges
presented by their communities or sustaining activities that have
demonstrated their effectiveness," Marshall stated.
The Kresge Foundation, based in Troy, Michigan, is an independent, private
foundation created by the personal gifts of Sebastian S. Kresge.
It is not affiliated with any corporation or organization.
-30-
More information: Science at St. Lawrence
Giving to St. Lawrence
|
