GRAND RAPIDS – 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.
