Today I wish to announce a gift of a quarter of a million dollars of a total pledge of nearly 1.1 million dollars towards establishing the residential arm of the Institute of Lutheran Theology’s programming. Our generous first-time donor’s gift allows the Institute of Lutheran Theology to own its own facility: a 28,000 square foot, three building campus on ½ city block in Brookings, SD. While ILT has had its offices here since its inception, this purchase will allow it to establish new programs for residential students at the Masters of Religion, Masters of Divinity, Masters of Sacred Theology and Doctor of Ministry levels. We will soon be announcing generous scholarships that will make residential study with us financially possible for full-time students.
We are very excited about this gift and want to share it with all of you. However, I want to emphasize that this is a capital gift, and does not directly affect our operational budget. If you are an ILT donor, please don’t think, “They have enough now.” As much as ever we need your gifts to deliver our regular programming, including all of that we envision doing internationally. Think of this unexpected capital gift as an external acknowledgement that ILT is indeed worthy of your benevolence.
With the addition of capital assets, ILT is growing to become an institution that will survive and flourish in the next century and beyond. This has always been our long-term goal. In this week before Thanksgiving, we thank God for the many blessings He has bestowed upon the Institute of Lutheran Theology!