Gordon College, a flagship evangelical higher education institution in Massachusetts, has announced the reception of a financial donation of over $75 million dollars that it will put toward scholarships as enrollment has dipped in recent years.
The 130-year-old liberal arts college launched its “Faith Rising” campaign to raise $130 million to “meet the evolving and dynamic needs of current and future students around affordability, academics and community.”
The campaign was announced last weekend as the university celebrated a $75.5 million lead gift from an anonymous donor that was dedicated to the college’s endowment and directed to fund student scholarships.
A news release explains the Faith Rising campaign actually began three years ago with a “quiet phase” but was publicly launched last Friday during the institution’s homecoming weekend, where the $75.5 million was announced.
According to the college, the $75.5 million gift is “one of the largest donations ever given to a Christian liberal arts college.”
“Faith Rising is a reflection of Gordon College’s continuing commitment to stretch the mind, deepen the faith and elevate the contribution our graduates make around the world,” Gordon College President Michael Lindsay said in a statement.
“The landscape of private higher education is changing dramatically, and this campaign furthers our commitment to serving future generations while advancing our distinctive mission. Faith Rising assures Gordon will serve our students for the next 130 years and beyond.”
Gordon College has about 1,600 undergraduate students. The cost of tuition including room and board is over $48,000. Ninety-nine percent of students at Gordon College receive some type of financial aid. First-year students average about $29,000 in student aid.
The value of the net assets in the Gordon College endowment in the fiscal year 2018 was over $56 million.
Gordon College has struggled in recent years to attract prospective students and keep enrolled students.
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SOURCE: Christian Post, Samuel Smith