Endowment Guide

Luther grads give $1 million to technology endowment fund

Date 9/13/2000 12:00 AM | Topic: News

Endowment Policy On August 30 at the opening convocation, President Richard Torgerson launched the academic season by announcing a one million dollar gift, one of the largest personal gifts given to Luther College.

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Selling Endowment Brad and Jane Miller, 1986 graduates of Luther, have committed $1 million to the college's Leadership for a New Century campaign. The money will be used specifically to create a technology endowment fund.

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Endowment Mis Selling "This is a marvelous commitment on the part of two Luther alums whose belief in this place has motivated them to give back," Torgerson said. "This gift will allow the college to strategically plan for the effective deployment of technology for years to come."

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Selling Endowment Policy The Millers' gift also comes with a challenge that requires others to match the Millers' donation with gifts that total one million dollars over the next four years. When the goal is met, the Millers will designate the assets of a 20-year trust that will add upwards of another million dollars to the college's technology endowment.

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Endowment Fund According to Keith Christensen, vice president for advancement, the gift will be invested. Each year, the college will be allowed to spend 5% of the endowment with all additional earning being returned to the principle. The money will be spent on infrastructure improvements and the regular upgrade of computers and other technology on campus.

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Lilly Endowment These improvements are scheduled to begin next year; however, the changes will not necessarily be noticeable. Many improvements will take place "behind the scenes," said Christensen.

Endowment Mortgage Uk Some technology goals include upgrading the connection to the Internet from a T1 line to a T3 line as well as establishing a data signaling plant which will allow local area networks (LANs) to communicate with the Internet.

Endowment Plan Mortgage Brad Miller, vice president for product development with Net Perceptions, also serves as a member of Luther's technology task force. While attending a task force meeting, Miller also had to make a presentation to the board of directors for Net Perceptions.

Endowment Mortgage Complain Miller brought his laptop to Luther, intending to make his presentation via NetMeeting. Luther's network was unable to communicate with the Internet, an example of Luther's need to improve its technology.

Sell Endowment "If you have a better network, then you have better services," said Brad.

Endowment Mortgage The Millers share this common vision, also citing that improved technology can help Luther recruit students, staff, and faculty.

Endowment Funds "Both Jane and I wanted to do something for Luther. It is where we met," said Brad.

Sell Endowment Policy The two met when both were studying computer science. One night Brad was working late in a lab when Jane and her roommate entered. Using a primitive form of Instant Messenger, Brad asked Jane if she would be interested in going on a date. Jane, however, did not know how to respond to the message. Brad ended up leaving the lab. She called him in his room a half-hour later and accepted.

College Endowment Although no one has made any promises that the technology improvements will help students find their soul mate, it is certain that the Millers gift will give the Luther community access to the developing technology of the 21st century.

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Modified Endowment Contract Ryan Brown
Chips Staff Writer

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