Assumption College Announces Centennial Campaign;
Annouces $800,000 Kresge Challenge Grant


October, 2002— Assumption College announced the most ambitious fundraising effort in its 100-year history tonight during a special black-tie dinner held at historic Mechanics Hall on October 19, 2002. The cornerstone project of the $30 million Centennial Campaign will be a new 63,000 sq. ft. science center, which is currently under construction. The dinner culminated a two-day Trustee weekend event, which began with an unveiling of the science center cornerstone on Friday, October 18 followed by trustee meetings and the President’s Council dinner the following evening.

The $30 million Centennial Campaign includes three key elements: $15 million for capital improvements, including $11 million for the science center; $10 million for endowment, including $6 million for student financial aid; and $5 million for current use funds. Assumption President Tom Plough announced that gifts and commitments directed to the science center already equal $7.9 million, and total commitments to the Campaign received during the two-year quiet phase total $14.6 million or 48% of the Campaign goal. The Centennial Campaign celebrates the 100-year anniversary of the 1904 founding of Assumption College and will conclude in May 2006.

In a dramatic announcement, National Campaign Chairman David Grenon announced that the College just received word from The Kresge Foundation in Troy, Michigan that Assumption has been awarded an $800,000 challenge grant to the science center project. “The Kresge Foundation is world renowned for its challenge grants and its rigorous requirements. To receive a Kresge challenge is the equivalent of receiving the Good Housekeeping ‘Seal of Approval’ or a J.D. Power and Associates ‘Top Rating’ for the institution and its fundraising plan.” Grenon continued, “Over the years, The Kresge Foundation has awarded challenge grants to a number of Worcester area organizations, however, only one other institution has ever received a grant at or above the $800,000 level. This is a wonderful recognition for Assumption College, its mission and its leadership.”

To fulfill the Kresge challenge, Assumption must raise the remaining $2.3 million needed to meet its science center fundraising goal within the next 15 months. As of September 30, The Kresge Foundation has awarded 127 grants in 2002 for a total of $80,851,000. They will continue to make grant commitments during the balance of the year. John E. Marshall III, President C.E.O. of The Kresge Foundation, indicated, “In this cycle of grant making, our Trustees are pleased to support a range of organizations reflecting almost the entire breadth of the nonprofit sector. This diverse group is responding to the new challenges presented by their communities or sustaining activities that have demonstrated their effectiveness.”

In 2001, the Kresge Foundation reviewed 643 proposals and awarded grants to 165 charitable organizations in 42 states, the District of Columbia, Canada and England, totaling $111,467,000. Grant recipients raised initial funds towards their respective projects before requesting Foundation assistance. Grants are then made on a challenge basis, requiring the raising of remaining funds, thereby ensuring the completion of the projects. The Kresge Foundation is an independent private foundation created by the personal gift of Sebastian S. Kresge. It is not affiliated with any corporation or organization.

Prior to announcing the Campaign and its initiatives, President Plough provided the guests with an update on the College and its mission “We know you favor institutions like ours which are in the business of strengthening the human spirit in the context of intellect and faith. We certainly take pride in the fact that we have had five Fulbright Scholars in the last two graduating classes, but we are even prouder of the fact that our alumni are characterized as good neighbors, involved citizens in their communities, faith-based individuals and hardworking professionals.”

Bishop Reilly, a Trustee of Assumption College, gave the benediction to begin the evening. The dinner included remarks by Senior Class President Katie Beane ’03 (Portland, ME) and a video presentation by Honorary Campaign Chairman Richard Testa ’59, chairman of Testa, Hurwitz & Thibeault law firm in Boston. It also featured the Assumption College Chorale, which performed during the dinner.

For more information, check out the Campaign web site.