Wheaton College seeking millions in donations
Wheaton College is in the middle of the largest fund-raising drive in its history.
Officials with the 148-year-old college have gone public with a $260 million campaign to bring new buildings, create new scholarships and bulk up the school's overall ability to fund teaching and learning.
"This is the most we've ever asked for by quite a bit," college spokeswoman Sarah Clark said. "Some of our alumni have definitely said, '$260 million!'"
The college already has raised more than $162 million through quiet contributions during the past three years when the campaign was in a non-public phase.
Clark said raising the money was easier once Wheaton College's financial picture was put in perspective.
DePauw University, Oberlin College, Carleton College and many other private liberal arts colleges have much higher endowment market values than Wheaton College has to fund operations. For example, Lafayette College in Pennsylvania has about 300 fewer students than Wheaton College. But its endowment value is more than double that of Wheaton College.
"When you start to compare Wheaton College to other private liberal arts institutions, our endowment is really almost below par," Clark said.
Hence, the $260 million campaign was created.
The new funds would increase scholarships by 30 percent, but also build a new science center and help fund the new J. Dennis Hastert Center for Business, Economics and Public Policy. The campus library already has seen a $4 million upgrade. Construction also should begin soon on an expansion of Edman Chapel.
Besides new scholarships, the new money would help the college hire more staff, providing for more one-on-one peer mentoring opportunities between students and faculty.
"Because we're a Christian community, the faculty is being encouraged to invite students to come have dinner in their homes," Clark said. "We used to do a lot of that 150 years ago. We're trying to get back to that. The students are the ones who will feel the benefits of this campaign most intimately."
For more information about the campaign, visit www.wheaton.edu/promise/.