2008 Woodie Awards
Senior class gift largest ever and still growing
In endowing a scholarship, senior class gift committee seeks to raise $50,000. The committee has about $20,000 to go before commencement
By: Brian Martucci
Issue date: 4/28/06 Section: News
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This year's senior class gift committee has already raised more money than any class gift before it, and if all goes as planned it will end up doubling the second largest gift ever.
As of April 18, about $30,000 had been raised for the gift, which will be an endowed scholarship to be distributed to one student annually, according to recently-departed Annual Fund employee Adrienne Dorn '03, who worked extensively with the senior class gift committee this year. The previous record was set by last year's gift, which raised about $25,000 to be put toward the existing Catherine Lealtad Scholarship.
The goal of this year's fund-raising campaign is $50,000, which is Macalester's minimum amount for an endowed scholarship, according to Vivek Sablani '06, a member of the gift committee.
“The college keeps its scholarships' principals, in this case $50,000, intact and uses the interest they generate to give to students from year to year,” Dorn said.
Annual interest from a $50,000 principal typically amounts to about $2,500, which is enough for one student's scholarship.
Although the exact criteria students must meet to receive the scholarship have not been set in stone, Dorn expressed doubt that it would be very restrictive. Aside from going to students with high amounts of financial need—a given—she anticipated that over the years an array of students would benefit from it.
“I think the scholarship will be open to all students rather than a particular group,” Dorn said. “It's designed to be more of an honor than anything else, a way for the Class of 2006 to leave a tangible lasting impression on the college.”
The college is always looking for ways to increase the pool of financial aid available to its students, Dorn added.
The scholarship fund has received several large contributions so far. According to Sablani, both President Brian Rosenberg and Dean of Students Laurie Hamre have contributed $1,000 each to the fund and one set of parents has donated $5,000.
As of April 18, about $30,000 had been raised for the gift, which will be an endowed scholarship to be distributed to one student annually, according to recently-departed Annual Fund employee Adrienne Dorn '03, who worked extensively with the senior class gift committee this year. The previous record was set by last year's gift, which raised about $25,000 to be put toward the existing Catherine Lealtad Scholarship.
The goal of this year's fund-raising campaign is $50,000, which is Macalester's minimum amount for an endowed scholarship, according to Vivek Sablani '06, a member of the gift committee.
“The college keeps its scholarships' principals, in this case $50,000, intact and uses the interest they generate to give to students from year to year,” Dorn said.
Annual interest from a $50,000 principal typically amounts to about $2,500, which is enough for one student's scholarship.
Although the exact criteria students must meet to receive the scholarship have not been set in stone, Dorn expressed doubt that it would be very restrictive. Aside from going to students with high amounts of financial need—a given—she anticipated that over the years an array of students would benefit from it.
“I think the scholarship will be open to all students rather than a particular group,” Dorn said. “It's designed to be more of an honor than anything else, a way for the Class of 2006 to leave a tangible lasting impression on the college.”
The college is always looking for ways to increase the pool of financial aid available to its students, Dorn added.
The scholarship fund has received several large contributions so far. According to Sablani, both President Brian Rosenberg and Dean of Students Laurie Hamre have contributed $1,000 each to the fund and one set of parents has donated $5,000.
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