Donor Gives UNCG $6 Million — Largest Gift Ever
GREENSBORO, NC, March 17, 2009 — An anonymous donor has given $6 million to UNCG – the largest gift in its history – to be used for student aid and new professorships.
“This gift holds enormous potential for UNCG to enhance student access and to recruit and retain top faculty,” said UNCG Chancellor Linda P. Brady. “The growth of scholarship funds is vital in today’s turbulent economy and it has been the primary objective of our Students First Campaign. This gift also represents the margin of excellence in the recruitment and retention of the very best faculty. Our donor has done a huge service to UNCG, and the university is indeed grateful.”
Although receipt of the mega-gift was unexpected, UNCG has been hosting events and personal visits with alumni and friends across the country during the Students First Campaign. The hard work obviously paid off with this very special gift. The gift boosts the campaign beyond $110 million from $104.4 million at the end of February.
The donor has designated $5 million to provide financial assistance to students. This gift will go a long way in the current economic climate to enhance UNCG’s scholarship program, which awarded only $1.6 million in need-based scholarships in 2007-08.
More than 60 percent of UNCG’s 17,000-plus student body receives financial aid – a total of $42.7 million awarded in grants and scholarships for 2007-08 and a total of $125 million in aid from all sources – with the bulk coming from federal and state sources. Beyond the total awarded, there was an unmet need last year of more than $30 million which required students to take out over $75 million in loans to support their education.
UNCG administrators are designating the remaining $1 million to create two distinguished professorships. For each new professorship, the donor’s contribution of $417,000 will allow UNCG to request matching funds of $250,000 from the C.D. Spangler Foundation, Inc., and $333,000 from the N.C. Distinguished Professorship Endowment Trust Fund. These generous matches allow UNCG to more than double the value of the donor’s $1 million donation.
- GREENSBORO, NC