From: Ozarks First
Jordan Valley Community Health Center has purchased the former Price Cutter supermarket building and property at Kansas Expressway and Grand Street in Springfield and will expand its services into that building later this year.
That land was owned by College of the Ozarks after a donor bequeathed it to the school several years ago. The school intends to use the money from that purchase to help students at the school.
As long as the money from donations like this isn’t restricted to a specific program or new building, it will go into the school’s endowment. This helps students pay off their tuition.
Valorie Coleman, public relations director at College of the Ozarks, said the donors strongly believe in the education offered at Hard Work U.
“Our vision is to develop a citizens of Christ-like character, who is well educated, hard-working, and patriotic people come alongside us,” said Coleman.
According to the Department of Education’s integrated postsecondary education data system, the College of the Ozarks has raised at least $10 million in private gifts every year since 1998.
Donations and private gifts help with building the college’s endowment, which was estimated at over $476 million in 2019.
“We really rely on the donors to help round out that full scholarship for each student, so when we are the recipient of gifts, we’re very thankful for that,” said Coleman.
In 1989, the college’s endowment was only $33 million, but the school pulled sparingly from it with an average spending rate of 1.7% since 2007. A large portion of that money was spend going towards students’ tuition.
“We’re a work college, so the students work to offset the cost of their tuition,” said Coleman. “They don’t pay for tuition out of pocket, but the work that they do is a part of that.”
College of the Ozarks has roughly $275,000 of endowment money per student. That’s more than double of many major universities, including New York University and Georgetown.
The complete feature can be seen on the Ozarks First Website.