RELEASED: July 31, 2003

DANVILLE, KY—Centre College has been named a recipient of a 2003 Kresge Foundation Science Initiative challenge grant of $500,000 to upgrade and endow science equipment.

The grant will be made in two installments of $250,000. The first installment will go toward new science equipment for the Division of Science and Mathematics. The second installment will go toward the establishment a $1.25-million endowment for science equipment. To receive the second installment, Centre must raise $1 million for the science equipment endowment by Dec. 1, 2004.

"We're thrilled to receive a Kresge Foundation grant," Centre President John Roush said. "This grant will enable us to establish a long-desired endowment for science equipment that will provide a reliable stream of funding to maintain excellent laboratories for our students and faculty. The project will benefit all Centre students, science majors and non-majors alike."

The Kresge Foundation requires applicants to raise initial funds for their projects before requesting Foundation assistance. Grants are then made on a challenge basis, requiring recipients to raise the remaining funds needed to complete their projects.

As of June 2003, the Kresge Foundation had awarded 70 grants this year totaling $44,647,600. In 2002, 158 grants totaling $109,251,000 were awarded. Since its establishment, the foundation has awarded more than 7,000 grants for a total of nearly $1.5 billion.

"We're grateful for the generous role that the Kresge Foundation has played as a partner in advancing the mission of Centre College," Roush said. "And we're honored at the opportunity this grant will give us to take our science division to the next level of excellence."

For more on the Kresge Foundation, go to http://www.kresge.org/.

For news archives go to http://www.centre.edu/web/news/newsarchive.html.

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