College of Marin Gets $10M Pledge for Endowment Fund

The College of Marin will receive a $10 million matching grant to establish a new endowment for students in need.

The grant, from the Houston-based Jay Pritzker Foundation, will match contributions dollar-for-dollar up to that amount, so the fund could reach $20 million.

A fundraising campaign will launch this fall in conjunction with the college’s 100th anniversary celebration, a yearlong centennial observance featuring a series of college and community events.

“As College of Marin turns 100, this centennial endowment fund honors a century of impact in Marin and ensures the college can deliver on its mission to provide educational opportunities for all members of our diverse community for the next 100 years,” said Jonathan Eldridge, the college president.

Keith Rosenthal, director of advancement for the College of Marin Foundation, said the endowment fund will be used to help students with non-tuition expenses such as books, computers, food, health care, child care or short-term emergencies.

“By alleviating the burden of everyday expenses, we can empower more students to focus on their studies, achieve their academic goals and ultimately contribute to the economic and social vitality of Marin County,” Rosenthal said. “It recognizes that the cost of an education extends far beyond tuition.”

The dollar match “provides a powerful incentive for community members, local businesses and other philanthropic organizations to contribute, effectively doubling the impact of every dollar donated,” Rosenthal said.

Paul da Silva, president of the college board, said it was significant to receive such a large grant at a time when there’s been a “long trend of 50 years of declining investments in higher education.”

“This is tremendously positive, and it will allow us to think more optimistically about the future,” he said.

Because College of Marin is a community college, it was “even more significant that a member of our community shares that enthusiasm and optimism and has made this generous proposal,” da Silva said.

The Pritzker family has ties to Marin and includes Daniel Pritzker, the foundation’s president, and other heirs of A.N. Pritzker, who made his fortune in the Hyatt hotels and other ventures.

The family has had “personal contact with COM and they have confidence in what we’re doing,” da Silva said.

The Jay Pritzker Foundation Centennial Endowment Fund will prioritize students enrolled in College of Marin’s high-demand nursing and science, technology, engineering and mathematics, or STEM, programs, Eldridge said. That will “address critical workforce needs within the region,” he said.

“However, all full- or part-time students in good academic standing or accepted for study at College of Marin are also eligible for support,” Eldridge said.

Eldridge said the college is “incredibly grateful” for the grant.

“This endowment will not only change individual lives but will also cultivate a more educated, resilient and prosperous Marin County for generations to come,” Eldridge said.

Prospective donors to the endowment fund can contact the College of Marin Foundation at kmrosenthal@marin.edu.