Tag: endowment

Lawrence receives additional $5 million challenge for scholarship endowment

$5M-gift_newsblogOn the heels of successfully completing a $25 million challenge match, Lawrence University has been presented another opportunity to boost its student scholarship support.

An additional $5 million commitment by the same anonymous donor who issued the $25 million challenge a year ago, has been pledged on the condition Lawrence makes every effort to raise $10 million in matching funds by December 31, 2016.

Both the gift and the matching funds would be applied to an endowment for student scholarships that currently stands at $51.9 million.

Charlot Singleton, who serves as chair of the Board of Trustees’ development committee says this newest commitment is “significant.”

Char Singleton_newsblog“Such generosity will allow us to recommit ourselves to the founding principle of educational access for all capable students,” said Singleton, a 1967 Lawrence graduate. “We can be proud of becoming the kind of institution that places that highest priority on ensuring a Lawrence education that remains affordable to all students.”

Two weeks ago, Lawrence announced it had raised nearly $27 million in just 15 months toward the original matching gift during its “Full Speed to Full Need” initiative. The latest challenge, when successfully completed, will add another $15 million toward the ultimate goal of creating a scholarship endowment of $75 million, a total that will make Lawrence a full-need institution.

“The impact of the gifts to the Full Speed to Full Need campaign is already making a huge difference in the lives of many Lawrence students,” said Hugh Denison, a 1968 Lawrence graduate who serves as chair of the FSFN initiative. “Our ultimate goal is to see that every student has the comfort of knowing that funds will be available for them to finish their education here. While we have had spectacular success in our efforts toward that goal, there is still much work to be done. I would urge every graduate of the college to consider a gift to this vital mission.Hugh-Denison_newsblog_2

“Our success in completing this campaign will insure that Lawrence remains among the national leaders of liberal arts colleges,” Denison added.

As a full-need institution, Lawrence will be able to provide financial assistance to make up any difference between what a family can contribute and what federal and state programs provide toward the comprehensive fee.

“When we are successful with this phase of the campaign,” said Ken Anselment, dean of admissions and financial aid, “we will be able to support all Lawrentians at a level that allows them to take full advantage of the Lawrence experience.

“This campaign will put Lawrence on the short list of colleges in the country that meet the full need of all their students,” Anselment added.  

About Lawrence University
Founded in 1847, Lawrence University uniquely integrates a college of liberal arts and sciences with a nationally recognized conservatory of music, both devoted exclusively to undergraduate education. It was selected for inclusion in the book “Colleges That Change Lives: 40 Schools That Will Change the Way You Think About College” and Fiske’s Guide to Colleges 2016. Engaged learning, the development of multiple interests and community outreach are central to the Lawrence experience. Lawrence draws its 1,500 students from nearly every state and more than 50 countries.         

 

Matching Gifts to Lawrence University’s Scholarship Endowment Top $11M

The response to Lawrence University’s announcement of a $25 million matching gift from an anonymous donor for student scholarships has been overwhelming.

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President Mark Burstein

Since announcing the largest gift in Lawrence history on Sept. 17, the university has received $11.4 million in matching gifts and pledges, more than 45 percent of the full match amount.

When fully matched, an additional $50 million will be added to Lawrence’s endowment earmarked exclusively for student scholarship support.

More than 260 donors have contributed to the scholarship matching effort to date with gifts ranging from $20 to $5 million. Underscoring the broad appeal of the match, more than half (54 percent) of the matching gifts have been for less than $250, with more than 100 of those for less than $100.

The scholarship endowment will be used for students with demonstrated financial need.

“It is inspiring to see this outpouring of generosity from the Lawrence community and know each dollar will support a student on this campus,” said President Mark Burstein. “The need-based scholarships generated by this endowment will greatly enhance our efforts to make a Lawrence education affordable to families across the socioeconomic spectrum. The funds raised so far will support over 75 Lawrence students forever.”

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Hugh Denison ’68

Hugh Denison, a 1968 Lawrence graduate, who has committed $1 million to the matching gift effort, said the decision he and his wife, Mary, made to do so, “is one of the best we’ve ever made. We will enjoy seeing the results of that decision for years to come.”

“While it’s perfectly appropriate to categorize this as a gift to Lawrence, we actually view it more as an investment in the next generation of students who will have the same opportunity for the world-class education that I received,” said Denison, former senior vice president, research director and portfolio manager at Heartland Advisors, Inc., a Milwaukee-based investment firm.

“My wife and I were blessed with families who could pay for our educations when we attended college, but we know that is becoming a rarity these days,” Denison added.  “We’re gratified to be able to make a difference and provide scholarship assistance to many students who might otherwise be unable to afford the great education Lawrence provides.”

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Cara Helmke ’00

Cara Helmke, a 2000 Lawrence graduate, called Lawrence’s new scholarship endowment “the gift that keeps on giving.”

“The day I heard the news, I knew I wanted to contribute,” said Helmke, a Wisconsin native now living in Clovis, Calif., and working as a hospital billing analyst. “It feels good to give to Lawrence. It feels even better to have those dollars matched again and support students in perpetuity. With less stress over financial obligations, students can focus on academic and extracurricular activities or other life-changing experiences.

“Whether large or small, each contribution gets the university closer to the $50 million goal,” Helmke added. “Collectively, we can provide a world of opportunity for future generations of Lawrence students.”

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Professor Claudena Skran

Support for the scholarship effort extends beyond the ranks of Lawrence alumni to include current faculty. Claudena Skran, Edwin and Ruth West Professor of Economics and Social Science and professor of government, along with her husband, David Duncombe, have made a $100,000 commitment to create a scholarship targeting international students.

“Lawrence has a great tradition of educating students from abroad and we would like this tradition to continue,” said Skran, a specialist in international relations and refugee issues who joined the Lawrence faculty in 1990. “Students who attend Lawrence form a community that extends in time beyond their four years here and in scope beyond the Appleton campus. Many international students have shared how much attending Lawrence has changed their perspective of the world and of themselves.

According to Skran, supporting the scholarship effort pays dividends to more than just the student recipients.

“Beyond the students who receive the scholarships” said Skran, “others at Lawrence – students, faculty and staff members – benefit as well if the scholarships help make our campus more globally diverse.”

About Lawrence University
Founded in 1847, Lawrence University uniquely integrates a college of liberal arts and sciences with a nationally recognized conservatory of music, both devoted exclusively to undergraduate education. It was selected for inclusion in the Fiske Guide to Colleges 2015 and the book “Colleges That Change Lives: 40 Schools That Will Change the Way You Think About College.” Engaged learning, the development of multiple interests and community outreach are central to the Lawrence experience. Lawrence draws its 1,500 students from nearly every state and more than 50 countries.

           

Lawrence University Endowment Earns 16.2 Percent During 2013-14 Fiscal Year

A robust 16.2 percent return on investment helped boost Lawrence University’s endowment to an institutional-record high of $249.5 million for the fiscal year ending June 30, 2014 according to recently released audited financial statements.

Endowment_newsblog
Lawrence’s endowment helps support one of the country’s lowest student-faculty ratios.

Last year’s return was more than 4 percentage points higher than both the return for the 2012-13 fiscal year (11.9 percent) and Lawrence’s five-year average return of 12 percent. The endowment stood at $212.4 million on June 30, 2013.

“Our return on investment reflects a strong market performance and a great portfolio balance designed by our investment committee and advisors,” said Christopher Lee, vice president for finance and administration.

Lawrence’s endowment helps to fund operations critical to the university’s educational mission, including academic programs and student financial aid programs that enable Lawrence to remain affordable and accessible to all qualified admitted students. Distributions from Lawrence’s endowment supported 17 percent of the university’s operating costs in the last fiscal year.

“The cost of a high-quality education is often at odds with the affordability of that education,” said Lee. “Lawrence’s engaged learning experience requires a diverse and highly qualified faculty. Our 9:1 student-to-faculty ratio ensures that students get the attention and expertise they need to prepare for well-rounded lives and careers. This is not an inexpensive undertaking.”

The cost basis of a Lawrence education for the 2013-14 academic year was approximately $41,000 per student.

“Through the generosity of our donors, the returns on our investments, grants and other revenues, our students paid an average of $27,000, 35 percent less than actual costs,” said Lee. “We are committed to sustaining the high quality of the Lawrence experience while continuing to seek funding that reduces the burden of that cost on our students and their families.”

Last month, Lawrence announced a school-record $25 million anonymous gift to establish an endowed scholarship. As a matching gift, it will eventually add $50 million to Lawrence’s endowment and provide for the financial need of at least 50 students each year in perpetuity.

For the current academic year, Lawrence provided $33.4 million in institutional financial aid. Ninety-six percent of Lawrence students are receiving need and/or merit based financial aid for the 2014-15 academic year. Twenty-two percent of Lawrence students are currently receiving federal Pell Grants, which are awarded to undergraduates from low-income families with the highest need.

About Lawrence University
Founded in 1847, Lawrence University uniquely integrates a college of liberal arts and sciences with a nationally recognized conservatory of music, both devoted exclusively to undergraduate education. It was selected for inclusion in the Fiske Guide to Colleges 2015 and the book “Colleges That Change Lives: 40 Schools That Will Change the Way You Think About College.” Engaged learning, the development of multiple interests and community outreach are central to the Lawrence experience. Lawrence draws its 1,500 students from nearly every state and more than 50 countries.