Northwest University received a donation of $1.5 million on Friday, Oct. 15, from Hobby Lobby Stores, Inc.
Through a relationship with Northwest University's Chancellor and former President, Dr. Don Argue, Hobby Lobby's owners invited a proposal from Northwest early in September. The University responded with a proposal seeking $1.3 million for operating funds and an additional $200,000 to support new-student scholarships.
"This generous gift comes at precisely the right time to make a real impact on our work of serving students here at Northwest," said Dr. Joseph Castleberry, Northwest's President. "Northwest has been on a course of steady growth and innovation over the past decade; this gift will help keep the University on this successful course in spite of a challenging economic environment."
From modest beginnings in 1972 with one small store, there are now 456 Hobby Lobby stores operating in 39 states, as well as an online store. The chain is headquartered in Oklahoma City, Oklahoma.
The gift is the largest in Northwest's history. Detailed plans for strategically applying the gift are underway, which will include establishing a scholarship program to help new students attend Northwest as early as the spring semester that starts in January 2011.
Posted on Friday, October 15, 2010 Share on Facebook