JBU Recipient of $800,000 Kresge Foundation Challenge Grant
Siloam Springs, Ark (January 22, 1999) - John Brown University officials announced January 20, 1999 that The Kresge Foundation has given the school an $800,000 challenge grant towards the completion of its $8,500,000 Campus Community Center. The Kresge Foundation stipulates that JBU raise the balance of the project's cost, $2.6 million, by January 1, 2000, in order to receive its grant.
Dr. Lee Balzer, JBU President, said, "We are absolutely delighted to qualify for this prestigious grant and have The Kresge Foundation endorsement. This is going to be a tremendous catalyst for our fund raising efforts for the Campus Community Center. It is a great boost and helps us broaden and deepen our donor base.
At the time of the December, 1998 announcements, The Foundation has awarded 211 grants in the 1998 for a total of $106,779,666. 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 challenges presented by their communities or sustaining activities that have demonstrated their effectiveness,"
In 1997, The Foundation reviewed 610 proposals and awarded grants totaling $95,908,521 to 180 charitable organizations in 37 states, the District of Colombia, Canada and Mexico. Grants are made toward projects involving construction or renovation of facilities and the purchase of major capital equipment or real estate. Grant recipients have raised initial funds toward their respective projects before requesting Foundation assistance. Grants are then made on a challenge basis, requiring the raising of the remaining funds, thereby insuring completion of the projects.
The Kresge Foundation is an independent, private foundation created by the personal gifts of Sebastian S. Kresge. It is not affiliated with any corporation or organization.