November 10, 2009

$125 million in anonymous gifts announced

Two anonymous gifts, one of $100 million and the other of $25 million, were announced by President Marx last week. A Boston Globe piece reports:

“In a difficult economic moment, when institutions and individuals have fewer resources, these unrestricted gifts to the endowment represent extraordinary votes of support for Amherst College, and the mission of educational quality and access at liberal arts colleges in general,” said Anthony W. Marx, the college’s president.

The money will be allocated as needed, Marx said, including enhanced financial aid, hiring more faculty and building new facilities or renovating existing ones.

The college launched a $425 million fundraising campaign in October 2008.

The school’s statement included comments attributed to both anonymous donors, including one from the $100 million donor who called Amherst, “a jewel of enlightenment, social mobility based on talent and preparation for leadership that we must all maintain.”

Peter Rooney, a spokesman for Amherst, said the school is confident based on research it did that the $100 million gift was the largest ever given for unrestricted purposes to a liberal arts college.

Brian Meacham '97 | November 10, 2009 10:56 AM | Administration

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