SAINT PETER, Minn. -- An unprecedented $40 million gift commitment – the largest in the history of Gustavus Adolphus College and one of the largest all-time among Minnesota colleges and universities – will position Gustavus among the elite liberal arts colleges in the nation for years to come, President Rebecca M. Bergman announced. The gift is being given to the Saint Peter, Minn. college by a successful alumni couple who wishes to remain anonymous.
"Our generous donors shared one simple motivation behind this incredible gift," Bergman said. "They want Gustavus to be at the forefront of liberal arts education well into the future."
The commitment will immediately raise the profile of the institution by providing significant scholarship funding to the most talented incoming students and supporting the renovation and expansion of the Nobel Hall of Science, a $70 million project that will provide Gustavus with one of the top laboratory and classroom facilities among private liberal arts colleges. This complete renovation and expansion will double the size of the College's iconic laboratory science building and emphasize student initiative and intellectual risk-taking in Science, Technology, Engineering, Arts, and Math (STEAM) by modernizing teaching and research spaces and creating a direct link between the science and fine arts facilities.
"We want the best and brightest students and faculty at Gustavus," Bergman said. "This gift allows us to not only recruit and retain these talented scholars, but to provide state-of-the-art facilities for both classroom and hands-on learning."
The bulk of the scholarship funding for high-achieving students will be earmarked for the Trustee and Promise Scholarship programs, which were launched last fall. Incoming students who are considered for the Trustee Scholarship will typically have cumulative high school grade point averages of 3.9 or above and an average composite ACT score of 32-36, while the Promise Scholarship focuses on gifted students who come from low- or middle-income families and are eligible for the Federal Pell Grant Program with a high school grade point average of 3.8 or above and ACT of 30 or better.
In addition to providing funding for the Nobel Hall renovation and expansion, the gift will also provide a significant boost to annual operating funds by bolstering the College's endowment, which recently crossed $165 million.
"This gift is transformational for Gustavus in both its magnitude and its targeted impact," Vice President for Advancement Thomas W. Young said. "Scholarships and top-of-the-line buildings attract students, but the growth of the endowment means that Gustavus will continue to operate at a high level across the board as we move into the future."
This gift, along with $12 million in gifts received in the past year, is given in support of the Gustavus Acts Strategic Plan, the College's bold, 10-year vision to equip students to lead purposeful lives and to act on the great challenges of our time through an innovative liberal arts education of recognized excellence.
"We are seeing a wave of giving that continues to build as alumni commit to the College's vision and direction," Bergman said. "Our future is bright because members of our community believe in Gustavus."
SOURCE Gustavus Adolphus College
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