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When Villa Madonna was established in the summer of 1921, the endowment was not much of a concern. As the College grew from a fragmented urban downtown Covington campus to a 100- acre suburban campus in Crestview Hills, the need for strategic planning for the future became increasingly evident.
From 1958 to 1967 enrollment increased dramatically to1,838 students, the highest student enrollment in College history. The enrollment boom stemmed the need for more programs, faculty and facilities. In the early 1970’s, the administration, under Dr. Richard DeGraff, determined that funding scholarships through endowments should be the College's highest funding priority.
On May 30, 1979, Thomas More received a $1 million grant from the James Graham Brown Foundation in Louisville, Kentucky for endowed scholarships. The College responded by successfully raising $2 million to meet the Brown Foundation challenge. The money raised toward the challenge came from Northern Kentucky and Greater Cincinnati individuals and major corporations. This marked the first endowed scholarship fund to be established at Thomas More College, and solidified the College’s focus on strategic development planning which thrives today.
The James Graham Brown Foundation continues to be one of the College’s most avid supporters. Since 1979, the James Graham Brown Foundation has contributed over $12 million to various projects and the endowment fund. The Brown Foundation’s continued commitment is a testimony of its faith in the mission of Thomas More College.
Gifts to the endowment have made it possible to plan for the future of Thomas More College and to provide further opportunities for our present and future generation of students. Currently, Thomas More has 80 individual endowments that total $10 million, ranging from $25,000 to $1 million. By industry standards, the formula to determine a college’s or university’s target endowment is ten times its operating budget. For Thomas More that would mean an endowment of $60 million. Reaching this target endowment would protect and preserve the College's fiscal health for future generations of students, and would provide a permanent source of revenue for endowed scholarships.
An investment in Thomas More’s endowment is a permanent investment in the future of the College, as well as the future of Catholic higher education. Endowed funds create a foundation for fiscal growth and stability, while generating a reliable portion of income for scholarships, professorships and programs.
In December 2006, Thomas More was awarded $250,000 from the James Graham Brown Foundation to be added to the endowed James Graham Brown Scholarship Program. With this endowment gift came a challenge to the College to raise an additional $1 million, which the Brown Foundation agreed to match up to the amount of $500,000. Monies collected from this 2/1 challenge will be placed in the College's general scholarship endowment. There is no better time than now to double the impact of your gift to Thomas More College.
If you are interested in receiving more information on how to establish an endowment, please contact the Office of Institutional Advancement at 859-344-3344 or e-mail advancement@thomasmore.edu.
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