Gift from 1965 Augsburg College alumnus is largest in College鈥檚 history.
Augsburg College is honored to announce that it has received an unrestricted $10 million philanthropic gift from a 1965 alumnus.
The donor鈥檚 generous contribution will support creation of The Center for Science, Business, and Religion which will be a new academic building.
鈥淭his tremendous gift will make possible our continued commitment to academic excellence, to the hands-on learning that is one of the hallmarks of the College, and to the continued best-use of our 23-acre campus,鈥� said Augsburg College President Paul Pribbenow. 鈥淎ugsburg is a 143-year-old anchor institution in the heart of Minneapolis鈥� vibrant Cedar-Riverside neighborhood. This gift puts the College on the path of being a college for the 21st century, and one that continues to deliver academic excellence in the liberal arts and professional studies.鈥�
鈥淎ugsburg College has found many ways to innovate and evolve since I was a student, while maintaining the core values that were so appealing to me,鈥� said Augsburg College Regent Steve Wehrenberg 鈥�78, chief executive officer of Campbell Mithun. 鈥淭his gift will ensure the College remains a caring, inspiring and delightful place for students of all kinds to learn and grow.鈥�
The $10 million gift brings to more than $23 million the total funds for the new building. The Augsburg College Board of Regents will continue to monitor progress on the campaign and the College鈥檚 cash position and debt capacity to determine when to set a date for groundbreaking on the first stage of the building.
鈥淚n May 2012, the Regents set calendar year 2014 as a target for beginning construction, a goal they believe is feasible, especially given the excitement this lead gift will engender with other prospective donors,鈥� Pribbenow said.
The donor, who asked to remain anonymous, is a long-time supporter of the College and graduated with bachelor鈥檚 degrees in mathematics and business administration.