Warren Wilson College has received a $10 million anonymous gift – the largest in the Swannanoa private school’s history.
The gift – which officials say was motivated by the donors’ values around education and environmental sustainability – will add to Warren Wilson’s endowment, increasing it by nearly 20%.
“These donors’ generosity is inspiring,” President Damián J. Fernández said in a news release Wednesday. “Their gift will be instrumental in advancing our hands-on, action-based education, which focuses on real-world problem solving and empowers graduates to live lives of purpose in service to the common good…this is an investment in the future of Warren Wilson College and is a powerful vote of confidence.”
Endowments produce investment earnings. The gift is unrestricted, which means the money can be used by the college for general operating support and other needs.
“Some endowment funds are restricted by the donors so that the earnings are used for student scholarships, or specific College programs,” explained a spokesperson in an email to BPR. “Unrestricted endowment funds support the operating budget needs of the College.”
