Scholarship investment will fund 50 Mines students per year in perpetuity
Denver entrepreneur Joe Cornell has made an estate gift to Mines that should, at its peak and in perpetuity, fund half of 50 rural students’ tuition and half of their board while they live on campus at Mines.
Cornell’s gift consists of his real estate portfolio, valued at more than $25 million. It’s the largest gift Mines has ever received from someone who is not an alum.
The terms of his estate gift involve Mines carrying on managing his real estate business, which should provide approximately $1 million annual income stream to fund the scholarship program. This is an unusual gift structure for Mines and holds potential for even greater returns for the rural scholarship recipients.
Read more about the gift on the Campaign for MINES@150 website.