Trustees issue $5 million endowment challenge

With the Independent Minds campaign $10 million short of its final goal of $53 million in new endowment, the college's board of trustees has issued a challenge. If Wooster's alumni, parents, and friends make new gifts and pledges to the endowment totaling at least $5 million before the campaign ends on June 30, 2007, the trustees - who collectively have given more than $30 million to the campaign already - will contribute $5 million in new gifts and pledges of their own.

The campaign has already met or surpassed its other goals, said James T. Clarke '59, the campaign chair, providing critical resources for current operations and fully funding six capital projects, including the renovation of Kauke Hall, 'but the board feels strongly that we cannot come this far only to fall short of making Independent Minds an unqualified success. Wooster’s alumni, parents, and friends have always responded generously to the real needs of the college, and we believe they will do so again."

Gifts to the endowment strengthen the college in perpetuity. Each dollar added to the endowment is invested to produce a return, from which the college draws an annual payout to support a portion of its operations.

Endowed scholarships help Wooster attract a diverse and talented student body, while endowed professorships help defray the cost of attracting and retaining top teacher-scholars. Endowed funds support the activities of individual academic departments, underwrite student research, purchase library books, and bring prominent speakers and artists to campus. One fund even helps care for the campus trees.

"The strength of the endowment supports the essential character of the College," said President R. Stanton Hales. "My tenure as president will end on the same day as the Independent Minds campaign, June 30, and it is my fondest hope that I will not leave any 'unfinished business' with regard to the campaign."

The College of Wooster is an independent liberal arts college, nationally recognized for an innovative curriculum that emphasizes independent learning. Each Wooster senior works one-on-one with a faculty mentor to create an original research project, written work, performance or art exhibit. Founded in 1866, the college enrolls approximately 1,800 students.