MidAmerica Nazarene gets $7.5 million donation
12/15/2011 10:40 PM
05/16/2014 5:55 PM
An anonymous donor has given $7.5 million to MidAmerica Nazarene University – the single biggest gift in the Olathe-based school’s history.
“Our donor has had many years of exposure to MNU and what we do,” said Jon North, vice president for university advancement. “We are so grateful for this demonstration of support that will provide more opportunities to educate young people and adults in a Christian learning environment.”
Officials called the unrestricted cash donation a “game changer.” It’ll be used as an operating reserve and make MidAmerica less reliant on short-term financing.
In January, MidAmerica announced layoffs of 21 employees and other cuts to help it save $1.2 million, a move made necessary by a drop in donations. In a statement Thursday, the university noted that it has seen greater net income and cash flow from operations this year.
| James Hart, firstname.lastname@example.org