CIC has approved challenge grants of $25,000 each for seven State Fund Members as part of a new program designed to increase gifts for scholarship support for State Funds and their member colleges. In order to be considered for a Scholarship Challenge Grant, the State Funds committed to raising a specific amount of new money. With commitments ranging from $25,000 to $75,000, if all State Funds meet their objective, an additional $470,000 in scholarship aid will be provided to students at member colleges in 2012.
“These special fundraising campaigns by the State Funds are meeting a truly critical need,” said CIC President
Richard Ekman. “The presidents of independent colleges and universities have made it clear that one of their highest priority needs is additional scholarship aid for deserving students, and I’m so pleased that CIC’s State Fund Members have stepped forward to help address this need.”
Proposals to participate in the program were submitted by the State Funds and were reviewed by a selection committee on a competitive basis. The State Fund Members selected for Scholarship Challenge Grants are:
- Arkansas’ Independent Colleges and Universities
- Associated Colleges of Illinois
- Louisiana Independent College Foundation
- Independent College Fund of Maryland
- Michigan Colleges Foundation
- Minnesota Private College Fund
- Ohio Foundation of Independent Colleges