Knox Exceeds $10 Million in Support for the College
July 22, 2011
Knox College raised more than $10 million to support Knox faculty and students, the College's educational mission, and its annual operations during the 2010-11 fiscal year (July 1, 2010-June 30, 2011). In total, $11,274,893 was raised from Knox alumni, parents, and friends. This is the second largest amount ever raised for the College, surpassed only by the $16 million raised in the 2005-06 fiscal year. In that year, Knox received a $10 million estate gift from Walter Hobbs '25, the largest single gift from an individual in the College's history. Knox raised $2,956,594 for the Knox Fund, or gifts that support the annual operations of the College, against a goal of $2.85 million.
Private gift support -- gifts from alumni, friends, parents, and organizations -- now represents the College's second largest source of income. Knox, like many other private colleges and universities, did see a drop in donors this year, with Knox's being smaller than many with a decrease of less than 1%. The College received gifts from 8,470 donors, including 4,800 alumni, compared to 9,000 total donors and 4,900 alumni last year.
"A residential, liberal arts education like the one Knox provides is an expensive endeavor, but it comes with invaluable, life-changing results. The support of our generous donors helps Knox continue to provide this experience for our students," said Beverly Holmes, vice president for advancement. "Given that Knox and our donors are still experiencing a tough economy, we are grateful for the thousands of alumni and friends who continue to support the College -- it is a testament to the strength of a Knox education."
In recognition of Knox's 18th president, Roger L. Taylor '63, who retired on June 30, Knox has raised $1.43 million for the Taylor Presidential Scholarship. Established by the College's Board of Trustees and supported by more than 400 alumni and friends, the scholarship will provide annual support to students who are the first in their family to attend college and have significant financial need. Taylor and his wife, Anne Taylor '63, were both first-generation college students who attended Knox with the help of scholarships. The first Taylor Presidential Scholar will be named in fall 2013, aligning with the celebration of the 50th Knox Reunion for the Taylors.
"We thank everyone who supported this scholarship in honor of Roger and Anne. There is no better recognition of two of Knox's most dedicated and generous alumni," said Bud Potter '63, Knox College trustee and classmate of the Taylors.
Thanks to the College's continued fundraising success, as well as stronger markets and sound investment, Knox's endowment continues to make a strong recovery, standing at approximately $84 million on June 30, 2011, compared to $67.5 million on June 30, 2010.