McPherson College Exceeds Double Match Challenge

Last Updated on July 24, 2023 by Robert C. Hoopes

McPherson College in Kansas Achieves Historic $1 Billion Endowment

McPherson College, a small liberal arts college in Kansas, has made history by meeting a $500 million endowment double match challenge from an anonymous donor. The surprise didn’t end there, as the donor also committed an additional $500 million estate gift, bringing the total commitment to a staggering $1 billion. This extraordinary act of generosity has propelled McPherson College to possess the largest endowment of any small liberal arts college in the United States.

In recognition of this monumental contribution, the McPherson College Board of Trustees unanimously voted to name the endowment after two late alumni and professors, Drs. John Ward and John Burkholder. Both esteemed individuals had a significant impact on the college and its students, making this tribute a fitting acknowledgment of their legacy.

The flexibility of the donor agreement allows for the funds to be disbursed gradually over time or in one lump sum after the donor’s passing. It is worth noting that a majority of the contributions to the endowment will come through estate commitments, showing the long-term commitment of donors to the college’s mission.

McPherson College has outlined several key priorities for utilizing the funds. The college intends to expand its programs, including the establishment of a center for the future of automotive engineering, reflecting the growing importance of emerging technologies in the industry. Additionally, the funds will be used to reduce student debt, reimagine the campus, and create a rural health pipeline—a crucial initiative considering the healthcare needs of rural communities.

The college’s student-centric approach has garnered praise from U.S. Senator Jerry Moran, who commends McPherson College for its innovative approach to training students. Senator Moran has pledged federal support for the institution’s endeavors, recognizing its commitment to providing quality education and enabling students to thrive in today’s competitive job market.

Expanding on its focus on student welfare, McPherson College plans to renew its collaboration on rural health initiatives. This includes the establishment of state-of-the-art science and engineering facilities to equip students with the skills needed to excel in their respective fields.

As part of the automotive engineering program, donors Richard and Melanie Lundquist have committed $50 million to the college. In addition, they have generously donated a classic Ferrari to the college’s automotive restoration program. The program will proudly showcase its work for the first time at the highly prestigious 2023 Pebble Beach Concours d’Elegance, featuring a fully restored 1953 Mercedes-Benz 300 S Cabriolet.

In light of this extraordinary achievement, McPherson College will expand its Student Debt Project—an initiative that matches student contributions to education. This expansion will undoubtedly alleviate financial burdens for students and foster an environment where their potential can flourish.

McPherson College’s $1 billion endowment not only secures its future but also establishes it as a beacon of excellence in liberal arts education. With ambitious plans on the horizon, the college is poised to make a lasting impact on the lives of its students and the surrounding community.