University Receives $2.5 Million Endowment Gift
An anonymous St. Lawrence University parent has made a significant investment in the institution’s future through a $2.5 million unrestricted gift to the University's endowment as part of The Campaign for Every Laurentian, the largest comprehensive fundraising initiative in the University's nearly 165-year history.
“This supremely generous gift from a current Laurentian parent stirs in all of us a feeling of affirmation that we are doing high value work with indelible effect at St. Lawrence,” said President William L. Fox '75. "We are so deeply grateful for the tangible and symbolic meaning of this form of assurance about the future of the University. This is another vivid example of our campaign bringing out the best in the hearts of St. Lawrence families.”
The purpose of the endowment is to provide sustainable financial support to serve the University's mission in perpetuity. Unrestricted gifts to the endowment are considered the ultimate vote of confidence in an institution, as they allow the University the flexibility to apply its returns each year to priorities on campus that continue to enhance the student experience.
Since the Great Recession in 2008, the University has nearly doubled its endowment, which was valued at $365 million as of March 2021. Growing the endowment is an important goal of the Campaign and enables the University to extend its tradition of providing life-changing educational experiences for the next generation of St. Lawrence students. Since the beginning of the Campaign, $73 million in gifts and commitments have been made to the endowment, with the majority directed toward endowed scholarships, research, professorships, and travel funds.
"During uncertain times, significant financial commitments from Laurentians provide certainty and give us margins of safety and financial strength," said Steve Hietsch, vice president of finance and administration.
The parent is a member of St. Lawrence’s Parents Committee, which was established in 1953 and has continued with current and past parents supporting the University's mission through charitable gifts. During the Campaign, the long-standing tradition of parent giving has continued with $37 million or 17 percent of the current total credited to parents.
The Campaign targets four "Big Ideas": Endowing Our Future, Learning for the 21st Century, the Power of Connections, and Campus Stewardship. As the Campaign nears its completion, six emerging priorities have also risen to the forefront for the St. Lawrence community.
Momentum for joining the effort continues, and with two months left in The Campaign, 98 percent, or $220 million, has been raised in gifts and commitments toward the $225 million goal. To date, more than 20,454 unique donors have made 68,570 gifts towards the Campaign.
Laurentians interested in creating an endowed fund can contact Terri Selby, Executive Director of Major and Planned Gifts at email@example.com or 315-229-5542.
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