A long tradition of charitable support by state businesses and foundations sustains Minnesota’s private colleges and universities and allows them to strive for quality far beyond what tuition revenue alone would allow. Last year, as part of that tradition, Minnesota’s businesses and foundations provided more than $31 million in gifts and grants directly to our member institutions or through the Minnesota Private College Fund.

Business leaders created the Minnesota Private College Fund in 1951. They were seeking a way to assist private colleges and support student access to a high-quality education. Since its inception 72 years ago, the Fund has raised more than $95.7 million. Every dollar raised goes directly to operating, scholarship and program support for our member institutions and their students, augmenting the funds that the colleges are able to raise. The Fund raises money for two purposes:

• General operating support pays for books, lab equipment, computers, utilities, maintenance and other core needs.
• Need-based scholarships help students from low- and middle-income families afford a quality college education.

Pooled scholarships: Sponsored by a collection of donors who contribute at varying levels to address emerging scholarship needs, these scholarships are awarded directly through campus financial aid offices.

Named scholarships: Donors interested in establishing a named scholarship make a minimum annual contribution of $17,000, with awards then being made to students at all of our member institutions.

Program scholarships: Donors support a program where students are competitively selected and engaged in the community through service projects, mentoring or participating in urban classrooms. Establishing a scholarship program requires a leadership gift to launch the program and pay for ongoing administration and evaluation.