August 17, 2023
A Tiny Kansas College's Billion-Dollar Gift
An anonymous donor has propelled a small, obscure college in Kansas into the billion-dollar endowment club alongside wealthy and well-known institutions such as Harvard, the University of Texas at Austin, and Yale.
McPherson College, which had a modest endowment of $53.4 million a year ago, now boasts an endowment valued at $1.59 billion. It has proven that it is possible for a college’s financial status to change drastically in less than a year, though a jump of this magnitude is both unusual and highly unlikely for a college of its size and reputation.
McPherson College, which had a modest endowment of $53.4 million a year ago, now boasts an endowment valued at $1.59 billion. It has proven that it is possible for a college’s financial status to change drastically in less than a year, though a jump of this magnitude is both unusual and highly unlikely for a college of its size and reputation.