University Receives $5 Million Gift for Scholarships
John Armitage | Nov 27, 2012
Gift will be used as a match for new endowed scholarships
INDIANAPOLIS – Marian University officials announced today that another multi-million dollar gift has been received from an anonymous investor. This one, which comes on the heels of a historic, $6 million gift in June, has been designated specifically for student scholarships and will be used as a matching fund for other donors to create endowed scholarships. This gift and the matching gift will result in a total of $10 million investment in student scholarships!
“We are incredibly grateful for the generosity of this man, who received his education from a Catholic university and understands firsthand the distinctive nature of what we do here,” said Marian University president Daniel J. Elsener. “It is his wish, and our belief, that this gift will inspire others to create endowed scholarships,” he continued.
Elsener commented that endowed scholarships are an excellent investment, because a scholarship is a powerful force of change for talented students with financial need. “An education in the Marian University community is a transformational experience for our students, and once they achieve that educational dream, they become forces for good in our community and beyond,” Elsener continued.
Endowed scholarships are also important tools for a non-profit educational institution like Marian University, because they help attract and retain a diverse and talented student body. With financial support like this for scholarships, the university is able to direct resources to attract and retain excellent faculty, upgrade technology, and build and renovate academic and student life facilities.
Endowed scholarships require a minimum investment of $50,000, but with the match, donors from a wide range of income levels can create a student scholarship endowment that will support students in perpetuity. With as little as $25,000 (payable over five years), an endowed scholarship can be created. The university is actively encouraging scholarship investors to consider supporting students who are interested in ministry, chemistry, mathematics, education, and healthcare—areas of great need in society.
The gift was received at the end of September, in advance of the university’s 17th annual Opportunities for Excellence Scholarship Celebration and Dinner, a fundraising event that has raised over $5 million for scholarships since its inception. The gift pushes Marian University very close to meeting the campaign goal it set publicly in 2007—the Make History campaign total of gifts and pledges is nearly $64 million against a goal of $68.2 million to be raised by October 2012. In light of this great success, and because of increased needs due to Marian University’s tremendous enrollment growth, the Board of Trustees and university officials have begun discussing a new and higher goal in the near future.
John Lechleiter, chairman of the university’s corporate and foundation committee commented, “Our original fundraising goal was an aggressive one, but with all of the momentum the university has right now, it is clear that we need to raise the goal and that we will be successful. My wife Sarah and I continue to be big fans and supporters of Marian University, and we believe that it is an important community asset.”