GRAND RAPDIS
– Davenport University announced it has received a gift to its endowment fund
of $5.5 million over the next four years from the M.E. Davenport Foundation, the
single largest gift in the University’s history.
The latest
gift brings historical giving to Davenport University by the independent,
family foundation to more than $15.4 million.
“This is an
extraordinary gift from the foundation and a tremendous boost for our Investing
in the Vision Campaign,” said Dr. Richard Pappas, President of Davenport
University. “We have now received commitments for more than $18 million
toward our $25 million goal. This investment by the Foundation will have a
lasting impact on the University’s ability to develop innovative new programs.”
Throughout
its existence the M.E. Davenport has supported Davenport University as well as
other community initiatives,” said Peggy Moceri, immediate Past President of
the Foundation and a granddaughter of the foundation’s namesake.
“With this
gift, we are seeking to reflect the shared origins and values of both the
Foundation and the University,” she said. “The purpose of the endowment is to
regenerate, in an enduring way, M.E. Davenport’s founding motto: Make a
Living, Make a Life, Make a Contribution.”
The
perpetual innovation fund, for which details continue to be developed, will
support academic and learning-related initiatives not subject to the regular
university operating budget. Besides its impact on the University’s current
fundraising campaign, the gift also supports work toward the University’s
recently announced Vision 2020 long-range plan, in which innovation plays a
large part. The timing also anticipates year-long celebrations in 2016 of
Davenport University’s 150th Anniversary.
