The gift, given quietly to the university, will fund scholarships for students. 4:00 pm, Feb. 2, 2021 ×
Robert and Lucille Stiever (Contributed photos)
WINONA, Minn. We don t know a lot, and that s how Lucille G. Stiever and Robert J. Stiever wanted it.
What we do know is this: St. Mary s University in Winona received a gift of $5 million from the estate of Lucille Stiever. It represents the largest gift in the history of SMU, according to a statement from the university.
The money will go to fund scholarships for students based on need, according to the university. The Stiever estate directed that the funds be used to establish an endowment to fund student scholarships for the undergraduate college in Winona, said Benjamin Murray, executive vice president and CFO at SMU. With an endowment, the funds are invested and the annual earnings are used to fund the donor-restricted purpose in perpetuity. In this case, the annual earnings will fund scholarships.
The gift, given quietly to the university, will fund scholarships for students. Written By: Brian Todd | ×
Robert and Lucille Stiever (Contributed photos)
WINONA We don t know a lot, and that s how Lucille G. Stiever and Robert J. Stiever wanted it.
What we do know is this: Saint Mary s University received a gift of $5 million from the estate of Lucille Stiever. It represents the largest estate gift in the history of SMU, according to a statement from the university.
The money will go to fund scholarships for students based on need, according to the university. The Stiever estate directed that the funds be used to establish an endowment to fund student scholarships for the undergraduate college in Winona, said Benjamin Murray, executive vice president and CFO at SMU. With an endowment, the funds are invested and the annual earnings are used to fund the donor-restricted purpose in perpetuity. In this case, the annual earnings will fund scholarships.