Lycoming College fundraises over $79 million
A fundraising campaign launched in 2016 by Lycoming College has exceeded the goal set by more than $14 million, according to the results released by the college.
“Our goal was $65 million, which is the largest goal we have ever set for a campaign,” said Chip Edmonds, executive vice president at the college.
The grand total for the campaign, which was named the “Campaign for a Greater Lycoming,” came in at $79,231,844 when it ended earlier this year. Data from the college noted that 12,055 donors contributed to the campaign in addition to almost $4 million which came in from federal and state grant sources.
“The campaign total is the most we have ever raised in a single campaign,” Edmonds said.
Four priorities were outlined for the campaign. The first, “Create the Coveted Degree of the Future,” according to Edmonds is “generally about enhancements to academic and co-curricular programs.”
Edmonds said that examples of areas to be funded are new academic majors in biochemistry and neuroscience and minors in entrepreneurship, energy science and energy studies.
“In addition, we launched the Center for Enhanced Academic Experiences. The center supports every student at Lycoming College completing at least one internship, study abroad or an undergraduate research experience,” he said.
The college’s Clean Water Initiative, which provides about 10-12 students with internships every summer, is an example of the center’s programs.
“Our new Outdoor Leadership and Education program is also a hallmark co-curricular program that is part of this priority and is now housed in the new Krapf Gateway Center,” Edmonds noted.
A second priority, “Fuel a New Generation of Warriors,” according to Edmonds, relates to gifts to endowed scholarships to support student access.
“Our financial aid budget continues to grow,” he said. “This year we awarded more than $31 million in scholarships and financial aid to our students because we want to guarantee that a Lycoming education remains accessible to all young people regardless of their ability to pay. This strategy has helped us recruit and retain talented young scholars. We are also able to boast one of the strongest endowments in the county – top 50 in the United States, top 10 in Pennsylvania.”
Another priority of the campaign was transforming the campus with an emphasis on new building project and investments in the physical plant.
“Our new Krapf Gateway Center will serve as a welcome center for prospective students and their families. The building also houses advancement and alumni relations offices, as well as new hallmark programs: The Center for Enhanced Academic Experiences, and Outdoor Leadership and Education. We have also renovated a number of residence halls, built the Lynn Science Center, opened the downtown Lycoming College Art Gallery, and renovated our academic center,” Edmonds said. Edmonds added that the hope with this priority is that the college will be positioned “for success for years to come.”
Finally a priority reflecting annual gifts that directly support the operational budget each year and help to fund new initiative, titled “Leverage Our Collective Strength,” was set by the college. This priority included annual scholarships, stipends to fund internships, study abroad, and undergraduate research.
‘It also includes a new Student Retention Fund that provides funding to students who face a significant financial hardship (parent loses a job, or other significant change that makes paying tuition not possible) while enrolled that ensures they are able to complete their studies and graduate,” he said.
Edmonds stressed that achieving these priorities would not be possible without the generosity of the donors who contributed to the campaign.
“The level of commitment from all those involved in the campaign has been extraordinary, and their generosity demonstrates that they believe in the college’s potential and want to see Lycoming succeed. Finally, Lycoming is now ranked amongst the top 200 colleges and universities in the country by Forbes’ Magazine (Forbes Top ROI Colleges) for the percentage and average gift size from alumni,” he added.