John Brown University of Siloam Springs said this week that its endowment has exceeded $100 million for the first time in its 96-year history.
The private Christian university said Thursdsay that at the end of its fiscal third quarter, the endowment was valued at $101 million.
The growth of the endowment comes during JBU's "Campaign for the Next Century: A Hope and a Future." The fundraising effort is aimed at raising more than $125 million for scholarships, endowment and building projects.
Among its recent donations: a $360,000 anonymous gift to complete the university's $1 million Visual Art Endowed Scholarship Match. The program will add $2 million to endowed scholarships for JBU visual art students, the university said.
"We are deeply grateful to reach this endowment milestone because it reflects the sacrifice of generations of faithful and generous people who have given to JBU," JBU President Chip Pollard said in a news release. "These endowment funds are critical to support student scholarships, academic excellence, and operations so that JBU can both be better and more affordable."
The JBU Scholarship Endowment generated $1.8 million in scholarships for students in the current academic year — up nearly 200 percent over the amount generated a decade ago, the university said. More than 600 students benefit from an endowed scholarship.
JBU has more than 2,800 students.