Jim McDonough, John Carroll University class of 1955, and his wife, Jacque, donated $1 million to the The President’s Opportunity Fund, which allows the Rev. Robert Niehoff S.J. to allocate the donations to various programs around campus, including academics, service organizations and other major projects. Another donation came from an anonymous donor who is bequeathing $4.45 million to JCU for students who are in need of financial assistance and want to pursue a college education.
The Carroll News commends Niehoff for the proactive approach he has taken with the alumni. Because of his efforts, alumni donations are up 29 percent from the fiscal year to date. In the past three years, JCU’s alumni donations have increased from 3,086 in 2008 to 3,148 in 2009 and 4,037 in 2010.
The University will receive the McDonough donation in installments over a short period of time, which the administration could not specify.
According to Doreen Riley, vice president of university advancement, there are several options for putting the money to work. However, all areas need some sort of additional funding. One suggestion, not official, is to use the money towards the abandoned Bohannon Science Center, which has been used sparingly since the construction of the Dolan Science Center’s opening in 2003. The administration did not give any specific details on what they would do with the Bohannon Science Center.
According to the administration, all the projects that are being looked into will require more than the $1 million. We, at The Carroll News, think the administration should open a dialogue with the students to see where they feel the money will be best spent. This would allow the administration to see how relevant their improvements are to the needs of the John Carroll community.
The Carroll News feels that there needs to be more transparency and conversation between the student body and the administration in this allocation process.
The other lump of money is coming from the bequest, which means the University will receive the money after the passing of the donor, and will be earmarked for student aid. It is the largest anonymous donation in the University’s 124-year history.
When the University receives the money, a percentage of it, known as the “spending rate” will be allocated to student scholarships each year while the rest will be invested with the Endowment funds. These funds will help future students for many years, but will not necessarily benefit the current student body.