NORMAL - Illinois Wesleyan University launched a $125 million capital campaign this week, announcing Thursday it received the largest single donation in the campus's history, $25 million.
Alumni Charles "Chuck" and Joyce "Jay" Ames - namesakes of the university's School of Fine Arts and the campus library - made the pledge. The Ohio couple, who met in the 1940s at IWU, serve as honorary chairmen of the campaign.
Official co-chairs of the Transforming Lives campaign are Steve Wannemacher and Jean Baird, 1973 and 1980 IWU graduates respectively.
The $25 million gift represents a long history of the Ameses' generosity to the campus, said IWU President Dick Wilson. They previously donated $12 million to help construct the Ames Library and to fund endowments for the School of Arts.
This week's gift brings the total raised during the "quiet" phase of this campaign to nearly $73 million, bringing it to within 60 percent of the goal, said Wilson.
The president said for every $10 raised, $8 will be used to build IWU's "human" foundation, including student scholarships, need-based financial aid, and faculty and program endowments. The remaining 20 percent will fund construction.
"There is a facility component. However, building the endowment and support for faculty staff and students is important to our future," said Wilson.
By the campaign's end in 2014, IWU hopes to increase its $145 million endowment by $100 million, he said.
Three buildings that might materialize from the campaign would be a classroom building, a new theater complex and apartment-style residential housing, said Martin Smith, IWU vice president for advancement.
Bloomington residents Roger and Stephany Joslin will donate $1 million for one other building project: The Joslin Atrium, an addition to the Memorial Center.
More information can be found at www.iwu.edu.
Posted in News on Friday, May 15, 2009 12:00 am Updated: 11:40 am.
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