in Monmouth, Illinois, has announced a $20 million commitment from an anonymous donor.
The largest gift in the college's 164-year-history includes $15 million over the near term and a $5 million deferred gift, both of which will be added to the college's endowment, the value of which currently stands at about $100 million. Income from the gift will be used to boost student scholarships and financial aid, support faculty and staff development, bolster the college's capital improvement fund, and attract new donors.
"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 Monmouth College president Clarence R. Wyatt. "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."