Huntington College receives $2.6 million in matching funds
FOR RELEASE: Saturday, February 21, 2004
Huntington, Ind. "The Huntington College officials announced today that the institution will receive a total of more than $2.6 million in matching funds from Lilly Endowment Inc. The grant was presented through the Endowment's Special Initiative to Strengthen Philanthropy for Indiana Higher Education. This concludes a 19-month effort by the College in response to Lilly Endowment's initiative, which was designed to broaden and deepen charitable support for all Indiana colleges and universities. In total, Huntington College raised $5,985,447 from alumni, students, parents, personnel, and other interested parties during the grant period. Of this sum, $2.6 million was eligible for the matching grant.
Huntington College will use a portion of the matching-grant funds for scholarship endowments. Since the beginning of this initiative, 16 new, named scholarship endowments have been established, totaling $351,000. An additional $373,709 was added to previously established scholarship endowments, making a total of $724,759 in new endowed scholarship funds. Doubled by the match from Lilly Endowment, this amount will yield approximately $72,000 of annual financial assistance for Huntington College students.
Notably, two new endowed scholarships were established by student groups. The first was created by the Class of 2003 students to memorialize a classmate who lost her life in 2003. The second was an initiative by members of the Huntington College Student Senate, who established a scholarship for students who exhibit strong leadership potential.
All of these scholarship endowments will help Huntington College provide additional educational opportunity for college-bound students and will strengthen our recruitment and retention efforts, said Huntington College president G. Blair Dowden.
The Special Initiative to Strengthen Philanthropy will help expand the student body in other ways, as well. Huntington College will use $1,000,000 of the match to establish new academic programs, and an additional $500,000 of the match has been earmarked for promoting these new programs. The Huntington College faculty are currently studying recommendations for the expansion of certain existing programs and the addition of new programs that have the potential to substantially increase enrollment.
We are currently engaged in feasibility studies and market research to determine which proposed program initiatives will receive priority in the near term, Dowden said. Our goal is to launch two or more new or expanded academic programs in Fall 2004, with additional programs implemented in the following year. The substantial funding we will receive through the Special Initiative to Strengthen Philanthropy provides a unique opportunity to expand our academic offerings and serve the needs of more students.
The balance of the matching funds (approximately $375,000) will be used to increase Huntington College's endowment for strategic initiatives. These funds will help Huntington College respond to ever-changing conditions in the higher education marketplace.
Ned J. Kiser, vice president for advancement at Huntington College, noted that the Special Initiative to Strengthen Philanthropy had accomplished many of the goals established by Lilly Endowment. The effort had helped Huntington College expand its support base, Kiser said. More than 2,200 donors made a qualifying gift to Huntington College during the grant period. Of these, 555 were first-time donors.
During the past 18 months, there was a 31% increase in the number of alumni donors and a 6% increase in the total number of donors, Kiser said. Of the 240 new alumni donors that gave during the Lilly campaign, 159 (or 66%) were from the Class of 2000 or later.
Lilly Endowment's Special Initiative to Strengthen Philanthropy has impacted our campus in so many ways, Dowden added. It has broadened and deepened our support base. It has made possible the development of new and expanded academic programs. It has significantly increased scholarship endowments, making a Huntington College education more accessible to many students and families. Most importantly, it has strengthened the institution's relationships with key constituent groups " especially students, parents, and alumni.
We are so grateful for Lilly Endowment's partnership with Huntington College and its strategic support of higher education in Indiana, Dowden said.
Huntington College is a comprehensive Christian college of the liberal arts offering graduate and undergraduate programs in more than 60 academic concentrations. USNews & World Report ranks Huntington among the top comprehensive colleges in the Midwest. Founded in 1897 by the Church of the United Brethren in Christ, Huntington College is located on a contemporary, lakeside campus in Huntington, Indiana. The College is a member of the Council for Christian Colleges and Universities (CCCU).
