Alverno College announced Tuesday that it has received a $10 million donation from
John and Tashia Morgridge through the
TOSA Foundation.
This donation, which is one of the largest in the college's history, "will support strategic growth and innovation to educate and empower future leaders to address emerging challenges in our communities," according to Alverno's news release. Alverno College is a Catholic liberal arts college for women that was founded in 1887.
Alverno is one of many colleges and universities that have experienced recent financial struggles as a result of declining enrollment.
Earlier this year, Alverno announced plans to eliminate 25 faculty and 12 staff positions, as well as reduce its undergraduate and graduate major options in an effort to cut costs. The college also announced it would eliminate its track and field team.
Kelly Cole, the assistant director of marketing and communications at Alverno College, said those layoffs and programming changes "will remain in place" because they "were necessary for the long-term financial stability of the college."
Cole said it is "too soon" to say whether the donation from the Morgridges will bring about any changes to program offerings or positions.
"I don't think any decisions have been made yet as to how that money is going to be allocated," Cole said.
Alverno College president
Christy Brown said in the news release that "the Morgridges' gift will have an immediate and lasting impact on Alverno and our students."
"We are deeply grateful for the Morgridges’ extraordinary investment in Alverno College at an important moment in our history," Brown said in the news release.
John Morgridge is the former CEO and chairman of
Cisco Systems, while Tashia Morgridge is a former special education teacher. The Morgridges have also made substantial donations to the University of Wisconsin-Madison, their alma mater. Three years ago, the Morgridges committed $125 million to UW-Madison's School of Computer, Data & Information Sciences. They also pledged in 2014 to match up to $100 million in donations made by others to UW-Madison.
"Alverno College is a great asset to the community," John and Tashia Morgridge said in the news release. "This gift expresses our deep confidence in Alverno, and we hope that it will inspire and challenge others who value the power of education to also invest in Alverno and its students."
Kathy Hudson, the chair of the Alverno College Board of Trustees, said the Morgridges' gift is "transformational."
"This gift is a clear affirmation that the work of Alverno faculty, staff and students matters and is vital to our community," Hudson said in the news release.
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John and Tashia Morgridge[/caption]
