Final donor pushes campagin over goal
July 17, 2012 –Newark, OH—The Next Generation Challenge scholarship campaign at Central Ohio Technical College (COTC) and The Ohio State University at Newark has surpassed its $20 million goal making it the most successful fundraising effort in the history of the two institutions. The campaign began in April 2010 and culminated on June 30, 2012, with a final donation that propelled the grand total past the $20 million goal to a preliminary total of $20,847,506.53.
Unique about this scholarship campaign was the matching opportunity, a rare chance to double the impact of every donation. Granville philanthropists J. Gilbert Reese and Louella H. Reese challenged the community in April 2010 by personally matching all gifts, multi-year pledges and planned gifts dollar-for-dollar up to $10 million to support the growth of endowed scholarships at both schools. It was through a tremendous outpouring of community generosity that the Next Generation Challenge achieved its profound success.
Culminating the campaign was the final gift, a combined $2 million from Ariel Corporation and Ariel Foundation, headquartered in Mount Vernon, Ohio. Karen Buchwald Wright, President and CEO of Ariel, has a long-standing relationship with COTC and was instrumental in establishing a permanent home for the COTC Knox Campus in downtown Mount Vernon. She is a dedicated philanthropist with a passion for improving the quality of life and opportunity in her hometown. The $2 million gift will benefit Knox County students attending either COTC or Ohio State Newark.
“Ariel Corporation and Ariel Foundation are honored to offer the KBW Scholarship opportunities for Knox County residents who attend Central Ohio Technical College or The Ohio State University at Newark. We are proud to be involved in a partnership dedicated to the preparation of Knox County students now and in the future for a strong and prosperous community,” commented Jan Reynolds, director of Ariel Foundation.
“I am absolutely thrilled to be able to say that the Next Generation Challenge was not only met, but exceeded its $20 million goal,” said COTC President Bonnie L. Coe, Ph.D. “We are so appreciative to the Reeses for their tremendous generosity, to Karen Buchwald Wright for pushing us past our goal, and to the many, many community partners who have made the Reeses’ vision to grow endowed scholarships a reality.”
The Newark Campus Development Fund, a permanent locally controlled endowment that provides funding for innovative projects and scholarships at COTC and Ohio State Newark, served as the primary recipient of scholarship gifts for the campaign. Donors were able to designate their gift to benefit students at either COTC or Ohio State Newark or they could make an unrestricted, cost-shared gift to benefit students of both institutions.
“Today, more than 50 years since its founding, the campus remains true to ensuring accessibility to an Ohio State education,” said William L. MacDonald, executive dean of the regional campuses and dean/ director at Ohio State Newark. “I am so grateful to Lou and Gib, and to all of our donors, for their incredible generosity and foresight in helping to create a better future for our community.”
“The vision of Gib and Lou Reese with their scholarship match and the community call to action truly represented a once-in-a-lifetime opportunity for our communities,” said Next Generation Challenge Campaign Chair William T. McConnell. “I am completely overwhelmed by the outpouring of generosity from so many across our community. Words cannot adequately express my pride at this moment, and my heartfelt appreciation to you all.”
The first Next Generation Challenge scholarship awards will be allocated during autumn semester 2012. With over $10 million in community gifts, matched by $10 million from the Reeses, COTC, Ohio State Newark and NCDF will ultimately be able to award the equivalent of 500 $2,000 student scholarships annually in perpetuity.