Lilly Endowment Will Match Gifts to DePauw
June 3, 2002
June 3, 2002, Greencastle, Ind. - Contributions made to DePauw University will be matched dollar-for-dollar by Lilly Endowment Inc. under an initiative announced today. In an effort to encourage greater giving to Indiana colleges and universities, the Endowment has created a program that could potentially provide $3.5 million to DePauw, and $138 million to the state's 38 two and four year private and public accredited colleges and universities.
Each school is being challenged by Lilly Endowment to raise up to $3.5 million from alumni, parents and students, faculty and staff. Whatever each school raises up to the $3.5 million will be matched by the Endowment. The matching period, now underway, continues through December 31, 2003.
“This is a wonderful opportunity to essentially double your dollars and help build an even stronger DePauw,” said DePauw University President Robert G. Bottoms. “We commend Lilly Endowment, which continues to be a force for positive change in Indiana and across the nation. The $20 million grant that launched our 361° technology initiatives last year is but one example of how the Endowment has bettered DePauw, and by doing so, created new, far-reaching opportunities for learning and economic development.”
“It is known that higher education institutions that have broad support from their alumni and other interested parties are frequently among the strongest institutions in the country,” according to Sara B. Cobb, Endowment vice president for education. “We hope that this initiative will cause more of those closest to Indiana institutions to develop habits of supporting them. We also hope that in providing that support they will become more engaged in the affairs of their college or university.”
All contributions to DePauw's Annual Fund, which are used for academic purposes such as permanent endowments, programs, capital needs, equipment, scholarship support and curriculum development, will count toward the challenge. The Endowment's matching grant funds will be allocated at the discretion of each institution's president. The Lilly Endowment's “Special Initiative to Strengthen Philanthropy for Indiana Higher Education Institutions” breaks down in this way:
- Up to $3 million must come from alumni
- Up to $250,000 from parents and students (including parents of alumni)
- Up to $250,000 from current or former faculty and staff
This program complements an earlier approved, potentially $38 million initiative for DePauw and the other Indiana schools, known as the “Initiative to Strengthen Board Commitment.” Through that effort, the Endowment provides challenge grants to encourage giving by members of the governing boards of Indiana colleges and universities.Back