Franklin & Marshall College will raise $10 million as part of its Trustee Endowed Scholarship Challenge. President Barbara K. Altmann made the announcement at the public launch of the most ambitious comprehensive campaign in F&M history, “Now to Next: The Campaign for Franklin & Marshall College,” Oct. 26 in the Alumni Sports and Fitness Center.
The largest campaign in F&M history will raise $200 million by the end of 2021, including $80 million to expand student aid. Altmann noted that $50 million already had been raised in support of the campaign’s top priority—increasing financial aid—during the leadership phase of “Now to Next,” which began in 2014.
“Our top campaign priority is financial aid—aid that will bring a rich mix of the most promising students to a place that recognizes their full potential and will help them realize it,” she said. “This challenge will underscore our efforts to inspire support for financial aid and attract many more prospective donors.”
The $10 million Trustee Endowed Scholarship Challenge was created by a $2.5 million matching fund from the estate of the late Dr. Myron Porternar ’49 and supported by generous gifts from several members of F&M’s Board of Trustees, including Dave Lehman ’68, Dr. Eric Rackow ’67, Larry Shadek ’72 P’05 ’06, Susan Kline Klehr ’73 P’12, Ray Sanseverino ’68, Ed Van Dolsen ’80 and President Altmann. When completed, the challenge will create up to 50 new endowed scholarships.
The challenge will match gifts on a 1-to-4 basis. When F&M receives each donor’s new scholarship gift of $200,000 or more (payable over up to five years), $50,000 in matching funds will increase the scholarship endowment fund to $250,000, the minimum level for establishing a named, endowed scholarship.