The Grand Challenge in Philanthropy: The Murry Gerber ’75 Challenge is a $40 million commitment to in support endowed financial aid and scholarships for high-achieving students from families with lower incomes.
Gerber will match gifts dollar-for-dollar in support of endowed financial aid up to $40 million, providing an additional $80 million to Augustana’s endowment.
Contributed dollars will go directly into the endowed scholarship and financial aid funds of new and existing scholarships, effectively doubling the value and impact of the scholarships.
The Gerber gift and all matching gifts will help the college meet 100% of demonstrated financial need for a significant portion of Augustana students, beginning with the class entering the college in the fall of 2023.
Families are concerned about the high cost of education and debt levels.
Nearly three in four students experience unmet financial need, making it a nearly universal phenomenon among today's students, according to the Center for Law and Social Policy.
Talented students with financial need are narrowing their options even before applying to colleges.
Meeting 100% of demonstrated financial need for high-achieving, lower-income students immediately will change their lives by investing in them at the moment they are poised for their greatest growth.
• Dollar-for-dollar match for gifts to eligible funds
• Funds go directly to donor’s fund
• Cash commitments can be paid over five years
• All gifts go toward funding financial aid and scholarships
• New gifts to existing eligible scholarship funds will be matched $ for $
• Newly established eligible scholarships will be matched $ for $
• Newly quantified estate commitments up to $500,000 with a $25,000 current gift
• Previously quantified, undesignated estate commitments that are newly designated to eligible scholarships up to $500,000 with a $25,000 current gift
• Accelerated cash gifts from previously quantified estate commitments to eligible scholarships