Alverno College has received a $10 million donation, one of the largest in its history, at a time when the institution is facing financial hardship.
California couple John and Tashia Morgridge donated the money to support “strategic growth and innovation” at the Catholic women’s college. Further details on how the money would be spent were not immediately available. The South Side institution is known for its classless curriculum and ability to attract first-generation, non-traditional and students of color.
“Alverno College is a great asset to the community,” the Morgridges said in a statement. “This donation expresses our deep confidence in Alverno, and we hope it inspires and challenges others who value the power of education to also invest in Alverno and its students.”
John Morgridge is the former chairman of Cisco Systems and Tashia Morgridge is a retired special education teacher. They have long been donors to Wisconsin colleges and universities. Both graduated from the University of Wisconsin-Madison and have given hundreds of millions of dollars to their alma mater for various causes, such as faculty recruitment and a new computer and data science building. They also donated money to Cardinal Stritch University – where Tashia earned a doctorate in education – before the university closes in 2023.
Alverno’s $10 million donation comes at an “important time in our history,” said Christy Brown, president of Alverno College. The institution had projected a $9 million deficit for the fiscal year that ended June 30. That same month, the college declared a financial emergency.
To position itself for a “more financially sustainable future,” Alverno is cutting a third of its majors, a quarter of its graduate programs, 25 full-time faculty positions, and 12 full-time staff positions.
Tax returns show that the school has had a deficit of between $1.8 million and $3.7 million in four of the last five years.
Alverno’s challenges are similar to those of many smaller private institutions in Wisconsin.
Northland College, an environmental science college in Ashland, also declared a financial emergency and said it would close at the end of the spring semester unless it raised $12 million within a month. The college did not meet that goal, but raised more than $6 million and announced it would remain open in the fall under a new and smaller model.
Contact Kelly Meyerhofer at [email protected] or 414-223-5168. Follow her on X (Twitter) at @KellyMeyerhofer.
