College Receives Gifts of $4.7 Million, including $2 Million for Fitness Center

Guilford has received five recent gifts totaling $4.7 million, including $2 million from the McMichael Family Foundation for a proposed student fitness center, President Kent Chabotar announced Nov. 25.

Also included are a $1 million anonymous, undesignated gift, an $850,000 unrestricted gift by the late Oleta Brame of Orlando, Fla.,  a $750,000 trust gift by Betsy Klein ‘53 of Brooklyn Heights, N.Y., to support the college’s endowment as well as a $100,000 endowed scholarship for Quaker student support.

The McMichael Foundation has made a substantial lead gift toward construction costs for a fitness center on campus, estimated to cost $8 million. The center will promote the health and welfare of students, faculty and staff. The gift is among the largest by a foundation in the college’s history.

The fitness center will accommodate a variety of physical activities focused on improving and maintaining personal fitness. It will not only provide state-of-the-art equipment and space needed for a wide range of activities, but will also create an inviting environment for gathering and group activities. In addition to group exercise rooms, there will be a dance exercise studio, classrooms and offices for the Sport Studies Department.

“Like Mac’s extraordinary service on the Board of Trustees, the generosity of the McMichael Foundation has been of great importance to Guilford College over the years,” said President Chabotar. “Students have benefited from scholarship funds and facilities improvements that were funded by the McMichaels. Now, with this significant lead gift for a student fitness center, their lives will be impacted by the generosity of Mac and his family once again. We are truly grateful.”

In addition to the McMichael gift:

• The $1 million anonymous gift will be used for needs that will be defined and agreed upon by the donor and the college, according to President Chabotar.
• Brame, who died in June, established a bequest leaving the bulk of her estate to the college for general education purposes. She attended Guilford for one year, 1928-29, but left due to her mother’s illness and the stock market crash. After completing a bachelor’s degree at George Washington University she had a successful career in government. Brame was a native of Madison, N.C.
• Klein, through her estate, established a charitable remainder annuity trust that will benefit the college’s endowment. She is a retired sales representative with John Anthony Inc., a clothing manufacturer. Klein earned a bachelor’s degree in psychology from Guilford and participated in the choir and student government. Her grandmother attended New Garden Boarding School, which became Guilford College in 1888.
• The fifth recent gift was $100,000 from the family of Karen Baldwin ’64 to establish an endowed fund supporting scholarships for Quaker students. The college announced this gift in October.

“The college values every gift it receives, however, unrestricted major gifts are of great significance because they often fund important needs that would not be possible within the annual operating budget,” President Chabotar said.  “Over the years, the college has used unrestricted gifts to cover the cost of renovating Archdale Hall and other projects that enhance the campus experience. These gifts benefit the college in many ways.”

Nov. 24, 2008