Endowment Fund At Divinity School Tops $3,000,000
Contributions for the drive to add six million dollars to the Divinity School's present endowment fund of one million have now reached a total of $3,122,494.17, Gordon Huggins '29, Executive Secretary to of the drive, announced yesterday.
Although it is well past the halfway mark, Huggins said that the campaign still urgently needed $880,000 this year in order to retain a bequest of $250,000 which is contingent on the drive reaching the four-million mark before Dec. 27 of this year.
Huggins added, however, that the chairman of the drive's committee, John Lord O'Brian '96, has expressed confidence that the necessary amount will probably be contributed before next fall.
The bequest, from the will of Mrs. Thomas W. Lamont, will be transferred to the Union Theological Seminary if the conditions are not met before the deadline.
At present, the Committee is also discussing the possibility of certain persons donating funds for various professorships at the School, each of which may cost approximately $300,000. The endowment drive also includes plans for a new $500,000 classroom building.
Already bolstered by $500,000 from the permanent University endowment, the campaign will receive another half-million from the Corporation when it reaches a total of $5,000,000.
The drive's most outstanding contribution to date came in December, 1953, when John D. Rockefeller, Jr. announced his donation of $1,000,000 while expressing a tribute to President Pusey's leadership.