Centre College has received an anonymous $20-million donation to support a new scholarship program at the Danville, Ky., campus, reports the Associated Press. The 1,400-student liberal-arts college announced the gift Monday as it launched the public phase of a four-year, $200-million fundraising campaign.
If successful, the drive would nearly match the $250-million stock gift pledged to Centre in July 2013 but withdrawn six weeks later after a complex corporate loan deal upon which the donation rested fell apart. The college said it raised $116.5-million during the silent phase of the campaign, which is set to end in early 2019 to mark Centre's 200th anniversary.
Losing the $250-million pledge "set us back a bit, as you would imagine," said Richard Trollinger, Centre's vice president for college relations. "But it also gave us an opportunity to say to the rest of our constituency, 'Well, that didn't work out, so now we need everybody else to step up.' And they have responded just marvelously."