Gordon College in Wenham has received an anonymous gift of $75.5 million, one of the largest in its 130-year history, officials said Friday.
The donation was announced as the private, Christian college launched the public phase of “Faith Rising,” a campaign to raise $130 million over five years, the school said in a statement.
Gordon President Michael Lindsay said the campaign is critical to the future of the liberal arts college.
“Faith Rising is a reflection of Gordon College’s continuing commitment to stretch the mind, deepen the faith and elevate the contribution our graduates make around the world,” he said in the statement. “
The anonymous gift will become part of Gordon’s endowment and be used for scholarships, according to the statement.
The endowment was valued at $56.8 million in 2018, and it costs $48,740 per year to attend the school, according to the college’s website.
The donation has already allowed the college to increase the amount of financial aid being provided by the school to students arriving in the fall of 2020 by 15 percent, according to the statement.
“We believe this campaign will ensure that the high school students of today who desire an outstanding Christian education can still afford to be the Gordon students of tomorrow,” said Myron “Mike” Ullman, the chairman of the campaign, who is also the chairman of Starbucks Coffee Company.