President Larry Stimpert recently addressed college accessibility in a letter to the editor of the Richmond Times-Dispatch published on July 19. Stimpert's letter, which highlighted Hampden-Sydney College's efforts to enhance value and limit tuition increases, prompted an anonymous $1 million contribution to the College in support of scholarship and financial aid endowment. The anonymous Hampden-Sydney alumnus has directed his gift to assist high-achieving students who exhibit financial need.
This gift comes as Hampden-Sydney raises funds to secure a matching endowment contribution from the Carpenter Foundation, which has committed to granting the College $4 million for need-based financial aid. The Carpenter Foundation's grant is being paid in four annual $1 million installments that are contingent on Hampden-Sydney raising $4 million in cash for each $1 million portion of the Carpenter funds. This alumnus' generosity enables the College to secure the first $1 million installment from the Carpenter Foundation."
Our greatest priority is ensuring that highly qualified young men have the opportunity to attend Hampden-Sydney College, regardless of their family's ability to pay," said Stimpert. "By itself, this gift is tremendous, but by unlocking an additional $1 million for the College from the Carpenter Foundation, its impact is truly sweeping. Reaching this important milestone has been made possible by many gifts of all sizes provided by many devoted alumni and friends. We are grateful to this alumnus for his faith in our mission and support for our current and future students."
This generosity builds on the momentum of Possibilities Fulfilled: An Endowment Campaign for the Men of Hampden-Sydney, a short-term campaign the College launched in February. To date, the College has received well over $30 million in gifts and commitments toward the $50 million goal of the Possibilities Fulfilled campaign, which will grow the College's endowment above $200 million."We owe much gratitude to this alumnus for his generosity, as well as many others who have helped the College secure these matching funds," said Jon M. Daly '78, the campaign's chairman. "I also want to thank the Carpenter Foundation for giving us this wonderful matching challenge to help our students with need-based scholarships. The Foundation's challenge jumpstarted our Possibilities Fulfilled campaign, and it deserves the credit for our spectacular results in the first six months. Scholarship endowment is the unique gift that keeps giving to future generations of Hampden-Sydney students."
"This gift is a remarkable demonstration of generosity and ensures the most talented students will be able to benefit from the distinctive and life-changing Hampden-Sydney education, regardless of their economic circumstances," said Heather L. Krajewski, the College's vice president for college advancement. "Creating this type of access to Hampden-Sydney is one of our highest priorities, and this gift will have a permanent impact on the College. We are so grateful for this gift and the inspiration it provides for others to support Hampden-Sydney and our students."