McPherson College in Kansas has received a remarkable $1 billion donation from an anonymous donor. The college made the announcement on July 21, sharing the extraordinary news. The donor initially promised to double-match every $1 donation made by others until June 30, setting a cap of $500 million. However, the college raised a staggering $342 million, surpassing expectations and prompting the donor to increase the cap and contribute a total of $1 billion. With the existing endowment and other commitments, McPherson College will have an endowment of almost $1.6 billion, making it the largest of its kind for any small college in the US.
This news is particularly significant in the automotive world because of McPherson’s extensive automotive restoration program. According to the college’s website, it is the only four-year bachelor’s degree program of its kind in the country. The program offers various focuses, including historic auto tech, restoration management, communications, restoration design, and auto restoration tech.
The program goes beyond just rebuilding old Buicks. The school has also received a generous donation of a classic Ferrari from another donor. Currently, students are preparing a 1953 Mercedes-Benz 300 S Cabriolet that they restored for the 2023 Pebble Beach Concours d’Elegance, where they aim to win rather than simply showcase the vehicle.
The $1 billion endowment will be used to expand academic programs and assist with college affordability. It is named the Ward-Burkholder Endowment after two of the school’s alumni who later became professors at McPherson.
McPherson College President Michael Schneider expressed his gratitude for the anonymous donor’s historic contribution. He stated, “Today is historic, not just for McPherson College, but for all small liberal arts colleges in America. I am incredibly grateful to our anonymous donor for giving us an unprecedented opportunity – and responsibility – to build and implement our strategic vision of becoming a destination learning community. We have also been given an amazing opportunity to honor two legendary alumni and professors, Dr. Ward and Dr. Burkholder.”
Founded in 1877, McPherson College offers more than 40 areas of study and has approximately 800 students.