Duane Bonifer  |   Published April 23, 2017

$20 Million Commitment

Gift is largest in school history
Monmouth College has received a $20 million commitment. It is the largest commitment in the history of the 164-year-old national liberal arts college, and one of the largest gifts ever to an Illinois liberal arts college.

The commitment, which was made anonymously, includes $15 million over the near term and a $5 million deferred gift. Both amounts will be used to expand the College’s endowment, which currently stands at about $100 million.

At a special session of the Monmouth College Board of Trustees, Monmouth President Dr. Clarence R. Wyatt said the couple who made the $20 million commitment did so because they believe in Monmouth’s mission as a college of high opportunity and high achievement.

“The donors are longtime supporters of Monmouth College, and they are passionate about this College because they know the difference it makes in young people’s lives,” said Wyatt, who has been the College’s 14th president since July 2014. “The couple know that in order for Monmouth to continue to be a leader, it must have a strong endowment that not only supports its mission but also helps the College to chart its own path with greater confidence and ambition, even in the face of external uncertainties.”

Board of Trustees Chairman William J. Goldsborough said the record $20 million commitment is another step in securing Monmouth’s future.

“We are very grateful for this extraordinary commitment. It serves not only the Monmouth College of today, but also strengthens the Monmouth College of tomorrow, moving it to even greater levels of ambition, acclaim and service,” Goldsborough said. “It also provides a powerful example for others who believe in the mission of Monmouth College to follow.”

Board of Trustees Vice Chairman Mark Kopinski said the record $20 million commitment is also an affirmation of Wyatt’s leadership of the faculty and staff of the College.

“This gift is an endorsement of Monmouth’s outstanding leadership and the inspiring vision it has for taking the College to a new level,” Kopinski said. “This is an extraordinary time in the rich history of Monmouth College.”

Wyatt said the $20 million commitment to the endowment will be used to increase student scholarships and financial aid, support faculty and staff development, add to the College’s capital improvement fund, and attract new donors.

“This $20 million commitment will help the College continue its momentum and expand its mission of being a national liberal arts college that enables young people to find and free the possibilities inherent in their lives through the liberating power of the liberal arts and sciences,” Wyatt said.
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