Cornell receives more than $20 million, edges closer to $92 million campaign goal
MOUNT VERNON — Cornell College has received multimillion-dollar commitments from two alumni – $15.1 million from Richard Small of Tulsa, Okla., Cornell’s most generous benefactor, and $5 million from John Smith, president and CEO of Cedar Rapids-based CRST International – moving the college closer to a $92 million campaign goal that will be celebrated with a public launch at homecoming Saturday night.
Approximately $74 million has been pledged to date for the campaign, the largest in Cornell’s history. “Extraordinary Opportunities: The Campaign for Cornell College” intends:
• $50 million for the endowment, which helps support endowed scholarships, faculty endowments, international and off-campus study, student-faculty research and programs for students interested in business (Berry Center for Economics, Business, and Public Policy) and in the health care professions (Dimensions: The Center for the Science and Culture of Healthcare).
• $31 million for renovations to West Science Center, The Commons student union, Pfeiffer Residence Hall and King Chapel.
• $11 million for the annual fund that supports the daily operations of the college.
The pledge from Small and his wife, Norma, provides funding for the endowment and capital projects, including renovations to Pfeiffer, The Commons and Rood House, a former residence hall that will be repurposed and renamed the Paul Scott Alumni Center. Paul Scott was a 1929 graduate, coach of Cornell’s 1947 NCAA championship wrestling team and a former alumni director. He died in 2003.
The $5 million from Smith and his wife, Dyan, is for the endowment and capital projects.
“Each gift to this campaign is an investment in Cornell’s innovative approach to education, in its students, and through those students, in a more enlightened world,” said Smith, a member of Cornell’s board of trustees and a 1971 graduate.
Small says the campaign will further strengthen Cornell’s aspirations to be one of the nation’s leading liberal arts colleges. “I believe in a liberal arts education, and I believe this campaign is absolutely the best way to serve Cornell students,” he said.
The campaign began in July 2004 and is scheduled to conclude in December 2009.
CELEBRATION
Cornell will celebrate the campaign success to date with a homecoming dinner at the Cedar Rapids Marriott Hotel on Saturday, Oct. 13, followed by a gala celebration (starting at approximately 8 p.m.) featuring a multimedia presentation and a performance by alumni members of the Pandemonium steel drum band.
RICHARD SMALL
A 1950 Cornell graduate, Richard Small built a successful oil-marketing business, Cheker Oil Co., and later chaired Tri-Star Aerospace, a leading distributor of materials for the aerospace industry. He served 23 years on Cornell’s board of trustees, including three years as chair, and is a life trustee. His wife, Norma, is an honorary alumna and an honorary trustee. Their philanthropy to Cornell includes a $20 million campaign gift – the largest in Cornell history – in the 1980s, a $12 million charitable lead trust, an endowed faculty chair and renovations of numerous academic buildings and residence halls, plus Cole Library and the Small Multi-Sport Center.
JOHN SMITH
A 1971 Cornell graduate, John Smith is president and CEO of CRST International, the Cedar Rapids-based trucking business started by his father in 1955. He has served on Cornell’s board of trustees since 2004; serves on the advisory board to Cornell’s Berry Center for Economics, Business, and Public Policy; and chairs the board of trustees campaign committee.
“Extraordinary Opportunities: The Campaign for Cornell College” runs through 2009 and seeks to enhance the Cornell experience by increasing the college’s endowment, upgrading its facilities, and enhancing the academic program.
For more information about the campaign or making a gift, please visit www.cornellcollege.edu/campaign
