Saint Mary of the Woods College is eligible to receive up to $2.5 million from Lilly Endowment Inc., if the college can raise enough funds between now and Dec. 31, 2006.
Previously, Indiana Institutions raised more than $140 million through the Initiative to Strengthen Board Commitment and the Special Initiative to Strengthen Philanthropy for Indiana Higher Education Institutions, according to information from SMWC.
"In short, this is the second phase of the Strengthening Philanthropy Initiative from Lilly Endowment Inc.," said Lynn Hughes, SMWC Public Relations Representative.
"This is a new phase to the initiative, and Lilly has offered us a $2.5 million match if we raise $2 million in between June 1, 2005 and Dec. 31, 2006," she said.
The Initiative to Strengthen Board Commitment focuses on gifts from members of the governing boards of the institutions or their related foundations. The Special Initiative to Strengthen Philanthropy for Indiana Higher Education Institutions collects donations from alumni, faculty, students, staff and parents.
A total of $96.5 million is available for 34 Indiana colleges and universities during this phase.
"Funds raised to meet the match may come from any private source, however, no more than 25 percent of the funds from any one source will be counted for the match," Hughes said.
Endowment Vice President for Education Sara Cobb said, "The Endowment continues to believe that there is a strong correlation between giving and engagement. Those who give generously to a school tend to pay attention to its vitality and effectiveness. Such support and engagement can only strengthen Indiana's colleges and universities."
SMWC Chief Academic Officer and Academic Dean Joanne Burrows said the grants and donations have allowed for campus improvements including facilities, classrooms and meeting areas.