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Atlanta Daily World
Atlanta, Fulton County, Georgia
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Atlanta University raised only $300,000 of the $600,000 needed by June 30 to match General Education Board funds, risking loss of matching $300,000 and jeopardizing physical plant expansion. President Rufus Clement revealed this Thursday. Previously matched all but this portion of a $3.2M endowment.
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Unless an offer by the General Education Board is extended Atlanta University stands to lose a sum of $300,000. This came to light when President Rufus Clement of Atlanta University had revealed Thursday that only half of the $600,000 subscription for Atlanta University to match a like amount from the General Education Board had been raised as the deadline passed June 30. The money had been visualized as aiding university in expanding its physical plant. Since the failure of the fund-raising campaign the hoped-for projects have been placed in jeopardy. Dr. Clement revealed $300,000 was raised by the university. This will be matched by $300,000 from the General Education Board. Of a $3,200,000 endowment offered by the General Education Board a decade ago on a match-making basis all but $300,000 has been matched by the university. The $300,000 which fell short in this campaign the only fund that had not been matched.
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Domestic News Details
Primary Location
Atlanta
Event Date
Thursday, June 30
Key Persons
Outcome
only $300,000 raised by university, to be matched by $300,000 from general education board; stands to lose $300,000 matching funds; hoped-for projects in jeopardy; all but $300,000 of $3,200,000 endowment previously matched.
Event Details
President Rufus Clement revealed Thursday that Atlanta University raised only half of the $600,000 subscription needed to match a like amount from the General Education Board by the June 30 deadline. The funds were for expanding the physical plant. Of a $3,200,000 endowment offered a decade ago on a matching basis, all but this $300,000 has been matched.