King's Over Halfway Mark in $25 Million Campaign
Financial District, NEW YORK—The King’s College is continuing its campaign to raise $25 million and has generated close to $17 million so far. The campaign was originally launched to raise funds for the school's functioning and its expansion, allowing King’s to become financially independent from Cru (formerly Campus Crusade for Christ). Since the average King’s student doesn’t pay the recommended cost of attending King’s, the school runs at a deficit, like many other schools. King's will cover this deficit with the money from the campaign. Mills described the campaign money as “sort of a quasi scholarship for the school.”
Former school president, Dinesh D'Souza, along with the board of trustees, started the campaign in March 2011. Interim President Andy Mills has replaced D’Souza as the chief fundraiser for the campaign.
“The good news is that the amount we have raised so far puts the college in good financial shape; the amount we’re raising extra now will put us in better shape,” Mills said.
The board, along with D’Souza, decided on $25 million as the campaign goal in order to give King’s some room to maneuver financially and expand. The number was chosen as the required foundation for the next three to four years.
In the past, King’s has been funded by Cru and board member donations. King’s now awaits approval to become independent from Cru within three to six months.
Mills confirmed that students will not notice changes as a result. King’s will also maintain a relationship with Cru--for example, Cru president Steve Douglas will continue as a board member of The King’s College.
Mills summed up the reason for becoming independent: “As we become more visible in the public realm battling for ideas--biblical ideas which enter into the apologetics realm and into the political realm--philosophically, we move in different directions.”
The $17 million received so far in the campaign came from the board members’ personal pledges and a generous gift from the DeVos Family, the founders of Amway, who have since have become one of the college’s largest donors. The DeVos family chose to give out of their appreciation of what is happening at King’s.
The King’s College hopes to complete the campaign within the next year.
“It’s typically easier to finish off a campaign than it is to start,” Mills said, “and we have a long list of donors that we’ve been working with.”