ST. BONAVENTURE, N.Y., April 12, 2006 — Sr. Margaret Carney, O.S.F., S.T.D., president of St. Bonaventure University, announced today the receipt of an $850,000 challenge grant from The Kresge Foundation that will provide funding for a new science facility and help St. Bonaventure promote science education at the University.
“With our nation’s need to promote education in the sciences, and St. Bonaventure University’s desire to be part of the restoration of scientific, mathematics and engineering excellence in this country, this challenge grant sets the foundation for an exciting future of academics in our School of Arts and Sciences,” said Sr. Margaret.
“St. Bonaventure has a long history of producing excellent science graduates who have gone on to distinguished careers. Dean of the College of Arts and Sciences, Steve Stahl, is giving us leadership to meet the goal set forth by New York state for its higher education institutions, that of becoming sites for major science initiatives,” said Sr. Margaret. “This new facility represents a quantum leap in science education for our University and our region.”
“This project is the first step, and a giant step, in leapfrogging St. Bonaventure ahead of peer institutions in terms of academic excellence,” said Stahl. “It will allow us to establish firmly, and showcase on a national level, the Bonaventure approach to undergraduate education, one in which the lines between research, teaching, service and outreach are blurred completely.”
The Kresge Foundation grant recipients raise initial funds toward their respective projects before requesting Foundation support. The Kresge Foundation grants are then made on a challenge basis. Receipt of the award is contingent on successfully meeting the challenge terms by a specific deadline. It is an “all or nothing” challenge and St. Bonaventure must raise $2,659,880 from private sources by Oct. 1, 2007.
The University is also seeking an additional $1 million in public funds. The entire project goal is $15,614,000. To date, including The Kresge Foundation award, close to $12,000,000 has been raised for the new facility and renovations of DeLaRoche Hall that will house research and teaching laboratories, areas for instruments, electronically enhanced classrooms and faculty offices. -more-
“This award speaks volumes about the Foundation’s confidence in Sr. Margaret Carney’s ability to lead St. Bonaventure University’s efforts to provide our students with a first-rate education in the sciences as we move into the 21st Century,” said Dr. Frank “Skip” E. Saal, provost and vice president for Academic Affairs at St. Bonaventure. “This public vote of confidence will, in all likelihood, be instrumental in our University’s future efforts to obtain extramural funding from other agencies and foundations to support our mission.
Such support is crucial in the context of the ever-escalating costs associated with the pursuit of academic excellence in higher education.”
“Receiving a grant from The Kresge Foundation means that we met very stringent requirements,” said Andrea Trisciuzzi, associate vice president for development and campaign director. “The application for the grant was a university-wide effort involving many departments. I am especially grateful to Laurie Stahl, director of faculty grants, for her assistance. It will also help us garner increased gifts from some of our current supporters.” Pictured: SBU community members applaud news of Kresge Foundation Challenge Grant
John E. Marshall, III, President and CEO of The Kresge Foundation, indicated, “In this cycle of grant making, our Trustees were pleased to support a range of organizations reflecting almost the entire breadth of the nonprofit sector. This diverse group is responding to the new challenge presented by their communities or sustaining activities that have demonstrated their effectiveness.”
The Kresge Foundation is a national foundation with $3 billion in assets. Through its grant making programs, The Kresge Foundation seeks to strengthen nonprofit organizations by catalyzing their growth, connecting them to their stakeholders, and challenging greater support through grants. The Foundation’s core grant making activity is its Capital Challenge Grants program. In this program, The Foundation focuses on opportunities to strengthen leadership and giving through challenge grants for capital projects. Projects supported include the construction and renovation of facilities, acquisition of property, and purchase of equipment.
In 2005, the Foundation awarded 212 grants totaling $131,770,027 to organizations in the United States, Canada, United Kingdom, South Africa and Mexico.