Coe College in Cedar Rapids has launched an $80 million fundraising drive. Coe spokesperson Rod Pritchard says officials hope to meet the "Defining Moment Campaign" goal by July 2012. Most of the money – about $45 million – will be used to boost the private institution’s endowment, which helps fund salaries and scholarships.
Pritchard says another $16 million would be used to renovate a science building. More money would be used to expand the campus and pay for other projects. More than $55 million has already been raised, thanks in large part to a gift from 1930 Coe graduate K. Raymond Clark, who died in 2005.
"His lifetime giving at Coe was in excess of $33 million," Pritchard says, "he’s the largest donor ever in Coe history. Part of his gift, approximately $18 million, formed the basis for the Defining Moment Campaign." Coe College has about 1,300 students.