The Kresge Foundation of Troy, Michigan will provide a $350,000 "challenge grant" to the CSU San Marcos capital campaign for the M. Gordon Clarke Field House / University Student Union. The grant stipulates that Kresge will donate $350,000 to the project if CSU San Marcos is successful in meeting the campaign goal by December 31, 2000.
An award from Kresge is considered a great achievement in the academic community. The Foundation turns down two applicants for every one it funds in one of the most rigorously competitive selection processes. Ranked as the 14th largest U.S. foundation in terms of assets, it is 17th in total awards, with more than $110 million in 1999.
The funds would complete funding for the $7.1 million project, which would be located on the CSUSM campus near the recently completed Mangrum Track and Soccer Field. The field house/student union will be the first campus recreational sports facility. It will allow the beginning of physical education classes, and provide training facilities for CSUSM's athletic teams.
The project is funded entirely with non-state resources. In 1998, Mrs. Helene Clarke gave $1.2 million to the facility in memory of her late husband. In 1999, students voted to allocate student fees for a $4.5 million bond issue to help pay for the building. The remaining $1.4 million is being raised from other private sources.
CSUSM President Alexander Gonzalez said the grant is further indication of CSUSM's growth and promise. "Kresge has chosen to invest in CSUSM because it sees a campus on the rise," Gonzalez said. "The Foundation's philosophy leads it to assist programs in growing external support that will assure continued fund raising success in the future. We have earned Kresge's involvement by demonstrating that our program is poised for success."
The Kresge Foundation, an independent, private foundation, was created in 1924 by Sebastian S. Kresge. Although Mr. Kresge also founded the S.S. Kresge Company, now known as Kmart, the Foundation is not affiliated or associated with that or any other corporation or organization.
The Foundation awards challenge grants for capital projects, most often for construction or renovation of buildings, but also for the purchase of major equipment and real estate. Kresge grants "challenge" the raising of new, private gifts in the midst of an organized fund raising campaign. Strategically planned campaigns offer special opportunities to build capacity, both in providing enhanced facilities in which to present programs and in strengthening the organization's ability to generate future private support after the capital campaign and project conclusion.
For information on the field house/student union capital campaign, contact Linda Fogerson, (760) 750-4402.
Public Affairs Offices/Campus News