Funding for New Buildings Complete
Siloam Springs, Ark (January 15, 2004) — John Brown University recently completed fundraising for two high-profile campus building projects. It took less than one year for the private university to raise the $11.9 million in capital to build a new residence hall and a new business center. "This has been an amazing whirlwind of a project," Dr. Jim Krall, vice president for university advancement said. "The gifts and pledges have all been given in the last eight months." Both projects kicked off early in 2003 with pledges that challenged the university to raise the remaining funds before the end of the year. Fundraising was officially completed when the university met a $1.75 million challenge grant from the J. E. and L. E. Mabee Foundation of Tulsa-ahead of the challenge deadline of Jan. 1, 2004. A challenge grant is a pledge to make a gift, based on the recipient meeting a requirement to raise additional funds within a set time period. John Brown University found out in July that it had to raise $4.4 million by Jan.1, 2004 to meet the Mabee challenge. Funds for the two buildings were raised in record time for the university, mostly due to the urgent need for both facilities. Student enrollment has grown steadily, and the new residence hall will house 114 undergraduate students. Construction on the $5.7 million residence hall has already begun on the north end of the campus and is scheduled to be completed by the time students arrive in August 2004. This will be the second new residence hall for the university since 2002. The business center will provide educational facilities for the Division of Business plus office and meeting space for the university's Soderquist Center for Business Leadership & Ethics. The two programs support each other in many ways, and university officials said it was a top institutional priority to bring the two programs together into one on-campus home. Groundbreaking for the business center is scheduled for mid-spring with construction projected to be complete by fall 2005. “We are thrilled to be able to reach our goal of finishing the funding for these two projects.” Mr. Don Walker, Chairman of the JBU Board of Trustees and President/CEO of Arvest Bank in Tulsa, Okla. said. “These buildings will help drive JBU into the future. It is an incredible time in the history of the University!" John Brown University is a top-tier university, ranked 11th by U.S. News & World Report in the Southern Region. JBU is a private university with an enrollment of more than 1,800 students from 42 states and 45 countries. JBU is a member of Arkansas’ Independent Colleges and Universities and the Council for Christian Colleges and Universities.