AMES, Iowa – Iowa State University announces that a gift reported in January will result in a new endowment of approximately $145 million to support the College of Liberal Arts and Sciences. The endowment is made possible through a gift from an anonymous donor couple of an equity stake in Curriculum Associates, LLC, which recently entered into a capital partnership.
The permanent endowment will generate between $5-6 million in revenue each year on a perpetual basis for the College of Liberal Arts and Sciences, the very heart of learning and discovery at Iowa State. The College of Liberal Arts and Sciences provides core courses for students in every major and, as a result, the gift will impact nearly every student at the university.
“The proceeds from this generous donation will allow us to begin transforming the college and the university for generations of students,” said Iowa State University Interim President Benjamin J. Allen. “We are so grateful to our generous donors who made this possible.”
The endowment will expand access to Iowa State University’s exceptional and distinctive education, which provides practical, global and leadership opportunities that help students to be well-rounded citizens and informed critical thinkers.
“I am so pleased about the extraordinary impact this endowment will have for students,” said Beate Schmittmann, dean of the College of Liberal Arts and Sciences. “The new endowment will more than triple the amount of scholarship dollars awarded by the college, boost our ability to provide Iowa State students with the opportunity to learn from superb faculty and accelerate innovation in teaching and research.”
Highly regarded throughout the world for its student-centered programs, the College of Liberal Arts and Sciences will also provide scholarships and financial support to expand student participation in internships, undergraduate research and study abroad opportunities; bring world-renowned artists directly to students through an artist-in-residence program; enhance career development support for students; and much more.
With an initial focus on the arts and humanities, the endowment will benefit all areas of the College of Liberal Arts and Sciences as it continues to enhance the student experience; empower educators, scholars and researchers to help solve some of our world’s most urgent challenges; drive discovery, engagement and innovation; and enrich modern learning environments for research, learning and collaboration.
“I’d like to thank the donors for making this innovative gift, and for having the confidence to allow us to work with the talented Curriculum Associates leadership team through this process,” said Larissa Holtmyer Jones, president and CEO of the Iowa State University Foundation. “We are excited that the proceeds will quickly go to work for the people and programs at Iowa State.”
The proceeds are the result of Curriculum Associates’ capital partnership with Berkshire Partners, a Boston-based investment firm, and the transaction is pending federal approval.