Trevecca Nazarene University has been notified that it is the beneficiary of a private family foundation established by friends of the University, President Dan Boone announced earlier today, Nov. 2.
The donors, who wish to remain anonymous, have funded the foundation with the expectation that an estimated $1 million per year will be distributed to Trevecca beginning in 2019. This annual distribution, established in perpetuity, will benefit the University for years and is expected to be the equivalent of the yield from a $20 million gift.
This is the largest gift in the University’s 117-year history.
“While respecting the wishes of the donors to remain anonymous, we want to celebrate the culture-impacting nature of a gift of this magnitude,” Boone said. “Not only is it the largest gift in the University’s history, but due to the way the donors have thoughtfully executed their philanthropy plan, Trevecca will receive a seven-figure gift annually from the foundation in perpetuity, which will benefit Trevecca students now and far into the future.”
The funds will be used for student scholarships as well as the upkeep of University facilities. Boone made the announcement during tonight’s Town and Country showcase, part of the University’s Homecoming Weekend festivities.
“It is appropriate that we make this announcement on Homecoming weekend,” Boone said. “The stories that are being told across the campus reflect the profound life change that has occurred daily on the campus for generations. This generous gift will change the trajectory of thousands of lives into the future. Now it becomes our responsibility to be faithful stewards of this gift and bring honor to the dignity and trust that birthed it.”
The anonymous gift is part of the University’s Making Great Stories Possible campaign, a five-year effort launched in the fall 2015. With a goal of making Trevecca more affordable and accessible through scholarship growth, improving facilities and supporting the infrastructure needs of Trevecca’s growing student body, the campaign aims to raise $75 million toward those goals. Campaign commitments currently total $61 million.
Peggy Cooning, vice president for external relations, is excited for the possibilities this gift will afford students.
“We are so grateful for this extraordinary gift of generosity,” Cooning said. “These wonderful friends have chosen to take their unprecedented estate commitment and make it a gift that will provide support to the University now and in the future. They will have the great joy of seeing first-hand their generosity at work in the lives of our students.”
More about the “Making Great Stories Possible” campaign
Trevecca launched the $75-million “Making Great Stories Possible” campaign in 2016, the largest giving campaign in the University’s 116-year history. Focused on the theme “Making Great Stories Possible,” the comprehensive campaign will include all gifts and pledges made in the five-year period from 2015-2020. The campaign goals include expanding scholarship funds, enhancing facilities, ensuring future impact and building operational infrastructure. Learn more at www.trevecca.edu/campaign.
About Trevecca Nazarene University
Trevecca Nazarene University is a Christian university in the heart of Nashville focused on preparing students for lives of leadership and service. Founded in 1901, Trevecca is committed to holistic education, encouraging students to grow intellectually, socially, emotionally, physically and spiritually. U.S. News & World Report ranked Trevecca as a national university in the annual “2019 America’s Guide to Colleges,” making the University the only Nazarene institution to receive the national ranking. In 2016, the Carnegie Foundation classified Trevecca as a doctoral university, ranking it among the top 7 percent of schools nationwide. Located just one mile from thriving downtown Nashville, Trevecca offers classes at the main campus as well as four other locations across the Southeast and online classes offered worldwide. With students from 47 states and 25 countries, Trevecca offers 15 associate degrees, 83 undergraduate majors, 20 master’s programs, and two doctoral programs, as well as specialist and certificate programs.