COLLEGE OF MICRONESIA RECEIVES MAJOR GIFT

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Wednesday, April 30, 1997

The College of Micronesia has received a personal contribution of $25,000 (US) from FSM President Bailey Olter and First Lady Amelia Olter.

College President, Susan Moses, says the generous gift will be added to the school's endowment fund, which is targeted to raise $250,000 by May 30.

So far, Moses reports, approximately $225,000 has been donated. When the goal is reached, the endowment fund will receive an additional two-for-one challenge grant of half a million dollars from the U.S. Department of Education.

Moses said interest earned annually from investing the endowment funds will be used to cover ongoing College of Micronesia operating expenses.

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