WINONA, Minn. – A Saint Mary’s alum has pledged $25 million to the university — the largest gift in the school’s history. James Burns, president, said the gift will push the university’s endowment beyond $100 million. The endowment generates investment income that stabilizes the university’s ongoing budget. Burns said the donor has asked to remain anonymous. There are strings attached. Burns acknowledged that the gift is dependent on Saint Mary’s raising $100 million from other sources by May 2024. Also, the university will need to reverse recent enrollment losses and grow to 900 students. The university’s announcement said the current undergraduate enrollment is 800, although the university somewhat confusingly lists 1,300 in some promotional material.
Earlier: SMU looks to Spain for new provost
Earlier: SMU academic chief departing after three years
Earlier: SMU student loss 13%: Curriculum overhaul to blame?
Verbatim
Burns, Saint Mary’s president, called the gift an endorsement of his controversial new career-oriented curriculum. “Saint Mary’s has refocused its program offerings to directly meet workforce needs while maintaining a liberal arts core,” he said. “We know that today’s students are looking for a solid return on their investment, which is why our university is partnering with health care and other major industry leaders to ensure that Saint Mary’s can continue to respond to the evolving marketplace. We must ensure our graduates, who are tomorrow’s leaders, have the right skills for both work and life including problem solving, critical thinking, and communication. This is because our liberal arts foundation remains central to our undergraduate experience thus providing students with a well-rounded perspective that will benefit them throughout their lives.”