$11 Million in Pledges Announced
An ambitious capital campaign that will allow Southwestern
College to excel in a new century was announced during Homecoming 2002.
Builders of Excellence: The Campaign for Southwestern College will give alumni and friends of the college the opportunity to support funding priorities in endowment, operating support, facilities and technology, and programs. (See accompanying story for details)
And as they revealed the campaign goal of $24 million, campaign leaders announced that more than $11 million already has been pledged toward the goal.
Trustees of the college have shown their support by pledging more than $4.5 million; faculty and staff have pledged what President Dick Merriman called an "astounding" $500,000.
"The people closest to the college-its trustees and its employees-have shown their love for the institution in a way that is both exciting and humbling," Merriman says. "In these tough financial times, these people are saying that they support the college in a way that requires great personal sacrifice."
In addition to the base goal of $24 million, a challenge goal of $34 million was put before persons attending the kick-off banquet Oct. 19 in Stewart Field House. The five-year campaign has completed its first "silent" year and will conclude in 2006. As a comprehensive campaign, Builders of Excellence will allow any gift to Southwestern College during this time to be included as part of the campaign total.
Unlike many capital campaigns, the Builders of Excellence effort does not focus primarily on buildings and infrastructure. Instead, the bulk of money raised will be used to support Southwestern's endowment, with special emphasis on student scholarships.
Campaign Focuses on Funding
Builders of Excellence Campaign - $24 million
($34 million challenge goal)
Endowment - $17.5 million ($22.5 million challenge goal)
The college is highly dependent on tuition revenue to support operations. In order to sustain and improve quality without raising tuition beyond the reach of potential students, a significantly larger endowment is crucial. The campaign goal includes four areas (challenge goal in parentheses):
Scholarships and Financial Aid -$4.5 million ($5.5 million)
Institute for Discipleship - $500,000 ($1 million)
Faculty Development and Support - $500,000 ($1 million)
Deferred Gifts for Endowment - $12 million ($17 million)
Operating Support - $3.3 million ($4.3 challenge goal)
Gifts to the Annual Fund give the college flexible
resources to meet the needs of students.
Facilities and Technology - $2.2 million ($3.2 million challenge goal)
Southwestern's leadership in facilities and in deployment of technology to support teaching and learning is exemplary.
Renovation of Mossman Hall - $1.7 million
Information Technology - $500,000 ($1 million)
Renovation of Richardson Auditorium ($500,000 challenge goal)
Program Support - $1 million ($2 million challenge
Donations to individual programs give a direct way to affect the excellence in academic and extracurricular programs that is the essence of Southwestern College.