Edgewood College Announces $7 Million Gift
Madison, Wis. (August 12, 2018) – Edgewood College is pleased to announce one of the largest gifts in our 90-year history: an estate gift commitment of $7,000,000. The funds will be applied to the College’s endowment. The gift is from a benefactor who wishes to remain anonymous.
“An endowment gift is special because it represents a significant investment in the future,” President Scott Flanagan said. “This generous friend of the College will make a remarkable difference for the students whose education will be made more affordable--a difference that will extend to the families and communities of those students. This person’s humility, modesty, and selflessness is an example to all of us. We are truly grateful for the leadership this commitment conveys.”
Endowments are often established to support the ongoing operating expenses of an organization. They may be for designated purposes such as scholarships, projects, or programs. Endowments can offer organizational stability in that they can supply a guaranteed stream of financial support in perpetuity. This gift, in the form of an estate commitment, will be applied to the College’s endowment, a fund that is valued at $40 million as of 2018.
In the most recent measure, fully ninety-eight percent of incoming freshmen received financial aid in the form of scholarships and grants. At the same time, Edgewood College has maintained its place in the top twenty-five percent most affordable private colleges in the state of Wisconsin.
Read more about this gift in the Wisconsin State Journal from August 12, 2018.