It’s been a big month for advocates of automotive restoration education. Just this past week, McPherson College — the small liberal arts college in Kansas that’s leading the way in Automotive Restoration Technology education — announced a $500m double-match estate commitment. The money will allow the college to reimagine and reinvent its campus while also expanding its suite of programs, including but not limited to automotive restoration.
This is the largest single gift ever given to a small. liberal arts institution.
The “double-match” estate gift will contribute two dollars for every dollar given by others — up top $500m to the college’s endowment. The anonymous donor has agreed to pay over time, or to give a lump sum upon their death. The college has until June 30, 2023 to meet the target — and has reportedly already nearly achieved $130m to date. When they hit $250m, the donor will kick in that additional $500m, which adds up to a total of $750m.
“McPherson College is important to the success of our state, and these generous donations will not only help the college continue to grow, but it will also greatly benefit the McPherson community,” said U.S. Senator Jerry Moran (Kan.). “When donors are willing to invest so much, it proves the college is doing something right, and I appreciate their understanding of how vital institutions like this are to our local communities and the nation. McPherson College has seen tremendous growth over the past decade, in large part because of the investments made in both its students and the community. Under the leadership of President Schneider, McPherson College identifies the community’s needs and prepares its students to step into these roles immediately following graduation. I look forward to joining President Schneider to announce the fulfillment of this $500 million match and to seeing the bright future McPherson College has ahead.”
“This is an unprecedented show of support not just for McPherson College but also for America’s small, liberal arts colleges,” said college president Michael Schneider. “I am indescribably grateful to our anonymous donor for giving McPherson College the resources to implement our expansive strategic plan and truly create the student-first campus of the future. We must reimagine the campus, just like we’ve reimagined the workplace in the last two years, and do it without burdening our students with more debt. I am also grateful to our faculty, staff, Board of Trustees, and my cabinet, whose encouragement and guidance are a source of inspiration.”