Kresge Foundation Awards Mount $1 Million Challenge Grant
Jan. 31, 2007 -- Mount Saint Mary’s University has been awarded a $1 million challenge grant from The Kresge Foundation, a national grant-making organization based in Troy, Mich., whose mission is to strengthen nonprofit organizations that advance the well being of humanity.
To support the College's goal of educating women—especially under-represented minorities—in science and math, the Kresge grant will be used to fund the Aging Research Laboratory and new classroom technology on the Chalon Campus in Brentwood.
"We are particularly impressed with the college's significant enrollment by first-generation college students of diverse backgrounds and the engagement of your students in community outreach," said Rip Rapson, president and CEO of the Kresge Foundation.
"Mount St. Mary's is proud to serve a population that is rare in higher education: ethnically diverse, female, first-generation college students, largely from low income backgrounds," noted Jacqueline Powers Doud, president. "And we are proud to partner with The Kresge Foundation as we work to build both new facilities and an ever-more vibrant community."
To grow and diversify the college's community of supporters, the Kresge grant challenges the College to raise an additional $4 million in its Invest in the Mount fund-raising campaign. As of December 31, 2006, the Invest in the Mount campaign had raised $40 million.
The Kresge Foundation is a $3 billion, national foundation that builds stronger nonprofit organizations by catalyzing their growth, helping them connect with their stakeholders, and challenging them with grants that leverage greater support. The Foundation concentrates its programming on capital campaigns as a key opportunity for nonprofit growth.
Grants are also extremely competitive: In recent years, less than 20 percent of the Kresge grants awarded were in the million-dollar range—and typically only one quarter of all applicants received an award.