John Brown University’s endowment has exceeded $100 million for the first time in its 96-year history. At the end of JBU’s fiscal third quarter, the endowment was valued at $101 million.
The growth of the endowment comes during JBU’s “Campaign for the Next Century: A Hope and A Future,” which has a goal of raising more than $125 million for scholarships, endowment and building projects.
JBU also announced Thursday (April 30) a $360,000 anonymous gift that will complete the $1 Million Visual Art Endowed Scholarship Match launched only this past January. The program will add $2 million to endowed scholarships for JBU visual art students. The match is a part of the Next Century campaign.
“We are deeply grateful to reach this endowment milestone because it reflects the sacrifice of generations of faithful and generous people who have given to JBU,” said Dr. Chip Pollard, JBU president. “These endowment funds are critical to support student scholarships, academic excellence, and operations so that JBU can both be better and more affordable.”
The JBU Scholarship Endowment fund generated $1.8 million in scholarships for students in the 2014-15 academic year. That is nearly a 200% increase over the amount generated a decade ago. More than 600 students benefit from an endowed scholarship.
JBU’s Endowment for Academic Excellence provides funds for student and professor research and other scholarly endeavors, including endowed faculty chair positions. JBU’s endowment also supports many of the campus facilities covering operational costs like utilities and janitorial staff to keep university costs as low as possible.