Largest single gift in Fort Lewis College Foundation history just one reason to be optimistic about the future

 

 

DURANGO, CO – The Fort Lewis College Foundation recorded the largest single gift in its history with the donation of four luxury townhomes at Dalton Ranch, located north of Durango. The gift is appraised at $2.7 million.

For the immediate future, the Foundation plans to rent the townhomes to derive income and may sell the properties when the housing market fully recovers.

Thanks for the gift goes to Marjorie Sitter of Santa Fe, NM, mother of Fort Lewis College Foundation board member, Douglas Sitter.

The gift of the townhomes, and every donation the Foundation receives, means more financial resources for Fort Lewis College students.

“This gift has important implications for the Foundation’s ability to provide scholarships to students and academic enrichment programs in the College,” says Margie Deane Gray, executive director of the Foundation.

In May, Fort Lewis College saw more than 500 students earn their degrees. In an ever more competitive world, exceptionally-educated citizens are vital to the success and prosperity of their communities.

While the past few years have held many challenges for the Foundation, the townhomes represent only the latest in a series of good news items.

When the bottom fell out of the market in 2008, the Foundation was not immune to the effects. The main fundraising entity of the College took its lumps along with most other college and university foundations.

However, the Fort Lewis College Foundation’s losses were less severe than many other colleges and universities and the recovery has been swift. While some foundations lost more than 35 percent for fiscal year 2008-09, the Fort Lewis College Foundation saw an investment decline of 25.6 percent, but also recorded a significant increase in donations. As far as recovery goes, it was recently reported that the Foundation’s investment pool rose by 14 percent between July 2009 and May 2010.

Also of note is the $5 million capital campaign to raise funds for the College’s new Student Union. Even as construction nears an end on the new section of the Student Union, the Foundation’s campaign is also nearing a successful conclusion.

The bulk of the funding for the new, $37.5 million building will come from a student fee that the students themselves voted to create. This is illustrative of the commitment and love the students have for the College.

For more information on investing in Fort Lewis College students and a healthy future for the country, visit the Fort Lewis College Foundation website at http://www.fortlewis.edu/foundation.