Latest news with #Rathburn
Yahoo
04-03-2025
- Business
- Yahoo
Grove City College receives single largest donation in its history
GROVE CITY, Pa. (WKBN) – Grove City College received the largest single donation in its history — a $70 million gift from the estate of a 1979 graduate. The donation is from the estate of David R. Rathburn, who died in February 2024 after a battle with cancer, according to a news release from the college. Rathburn was an alumnus and successful entrepreneur who had also served on the College's Board of Trustees for 17 years. 'David was a generational leader who deeply believed in the distinctive mission of Grove City College. His personal and philanthropic devotion to the College serves as the highest exemplar for those who recognize the tremendous value of a GCC education. He gave in great measure to great impact. He was a model of stewardship, a steadfast partner in leadership, and a good friend. We continue to feel his absence,' said President Paul J. McNulty. The bequest from Rathburn's estate calls for 75 percent – $52 million – to go to the College's financial aid endowment to fund need- and merit-based scholarships for students. The remaining 25 percent is earmarked for capital improvement projects. The gift boosted the College's endowment to $270 million, a 25 percent increase, according to the release. 'This transformational gift will make Grove City College more affordable for hundreds of students every year, help us complete a vision for campus that matches the excellence of our community, and, we hope, inspire others to emulate David's example of service and support,' said Edward D. Breen, chair of the College's Board of Trustees. 'This gift is massive, but it is not the end of our efforts to set the College on a firm foundation for the future. We hope that this historical milestone is one of many for the advancement of the College and its mission.' The $70 million estate gift is the largest ever recorded by the College's fundraising office, though Rathburn has also donated to the college in the past and has a Christian activities building bearing his name. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-03-2025
- Business
- Yahoo
Grove City College receives single largest donation in its history
GROVE CITY, Pa. (WKBN) – Grove City College received the largest single donation in its history — a $70 million gift from the estate of a 1979 graduate. The donation is from the estate of David R. Rathburn, who died in February 2024 after a battle with cancer, according to a news release from the college. Rathburn was an alumnus and successful entrepreneur who had also served on the College's Board of Trustees for 17 years. 'David was a generational leader who deeply believed in the distinctive mission of Grove City College. His personal and philanthropic devotion to the College serves as the highest exemplar for those who recognize the tremendous value of a GCC education. He gave in great measure to great impact. He was a model of stewardship, a steadfast partner in leadership, and a good friend. We continue to feel his absence,' said President Paul J. McNulty. The bequest from Rathburn's estate calls for 75 percent – $52 million – to go to the College's financial aid endowment to fund need- and merit-based scholarships for students. The remaining 25 percent is earmarked for capital improvement projects. The gift boosted the College's endowment to $270 million, a 25 percent increase, according to the release. 'This transformational gift will make Grove City College more affordable for hundreds of students every year, help us complete a vision for campus that matches the excellence of our community, and, we hope, inspire others to emulate David's example of service and support,' said Edward D. Breen, chair of the College's Board of Trustees. 'This gift is massive, but it is not the end of our efforts to set the College on a firm foundation for the future. We hope that this historical milestone is one of many for the advancement of the College and its mission.' The $70 million estate gift is the largest ever recorded by the College's fundraising office, though Rathburn has also donated to the college in the past and has a Christian activities building bearing his name. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
