McPherson College receives anonymous $500 million commitment
McPherson College in McPherson, Kansas, has announced a $500 million double-match estate commitment from a donor who wishes to remain anonymous.
The largest single commitment to a small liberal arts college in the United States will support the college’s Community by Design strategic plan, which includes four initiatives: the continuation of the Student Debt Project, which provides matching funds for students who hold jobs while attending school; East McPherson, the campus master plan, which includes a 55,000 square-foot campus commons student life center, the Boiler House recreation and social space, and the Holman Center for Athletics; the Kansas Center for Rural & Community Health Science, the college’s response to the extreme demand for healthcare professionals; and the National Center for the Future of Engineering, Design & Mobility. In addition, the commitment will support the college’s highly regarded Automotive Restoration Technology degree program as well as a new automotive collection facility with climate-controlled areas to store, display, and maintain classic cars, and give students state-of-the-art equipment to enhance auto restoration programming.
As per the parameters of the double-match estate gift, the anonymous donor will contribute two dollars for every dollar given by others to the college’s endowment, up to $500 million. The college, which has raised $130 million to date, has until June 30, 2023, to meet this goal.
“This is an unprecedented show of support not just for McPherson College but also for America’s small, liberal arts colleges,” said McPherson College president Michael Schneider. “I am indescribably grateful to our anonymous donor for giving McPherson College the resources to implement our expansive strategic plan and truly create the student-first campus of the future. We must reimagine the campus, just like we’ve reimagined the workplace in the last two years, and do it without burdening our students with more debt. I am also grateful to our faculty, staff, board of trustees, and my cabinet, whose encouragement and guidance are a source of inspiration.”
(Photo credit: Lukeorama Creative Commons image via Wikipedia)
