February 2, 2002

Grinnell College alumnus donates $1.5 million gift to alma mater

GRINNELL, Iowa -Grinnell College administrators announced a gift of $1.5 million from alumnus and trustee Henry Cornell, class of 1976. Cornell is a managing partner at Goldman, Sachs and Company in New York City and currently chairs the investment committee of the Grinnell College Board of Trustees.

The first $1 million of Cornell's gift will be used for the construction of a new student residence hall to be built on the East side of campus. The remaining $500,000 will go to the College's Annual Fund which provides unrestricted dollars to the current operating budget, and to create a new endowment to enhance the recruitment and matriculation of non-U.S. citizen students.

"Grinnell College's academic reputation is superior and highly-regarded," said Cornell, a Bronx, New York native who first came to Grinnell in 1972 as a first-year student. "The community of Grinnell is an ideal setting in which to experience the College's academic program and I'm thrilled to support efforts to enhance the residential experience of students who come from around the country and the world to live and learn."

"We are very grateful to Henry for this generous gift to Grinnell College," said Grinnell College President Russell K. Osgood. "His gift will help the College stay focused on two of our primary missions-integrating our students and academic program into the international community, and building a learning environment that supports students both in the classroom and in their residential environment."

After graduating from New York Law School in 1981, Cornell joined the New York law firm of Davis, Polk, and Wardwell before joining the firm of Goldman, Sachs & Co. in 1984. He eventually moved to Hong Kong, where he worked for nearly 10 years, before returning to New York City in 2001.

"Much of who I am, including my success as an adult, was nourished during my time as a student at Grinnell," Cornell said. " I'm just happy to do my part to ensure that future generations of students have their own formative experience-at a small college in Iowa where you can touch, learn, and experience the world."

Despite living in Asia, Cornell remained in touch with the Grinnell College community, volunteering whenever possible. He was elected to the Grinnell College Board of Trustees in 1998 and supported the College's past capital campaign with a gift of $300,000 towards the Bucksbaum Center for the Arts.

Founded in 1846, Grinnell College enrolls 1,300 undergraduate students from every state, the District of Columbia, and 55 countries. The college's primary mission is to provide students with a broad, deep, and life-enhancing education that includes professional success, but also personal growth and social responsibility. Grinnell College offers an exceptional, rigorous, comprehensive, and opportunity-rich educational experience which has, at its heart, one-on-one interactions between students, faculty, alumni, and staff. Grinnell College consistently ranks among the top nationally selective liberal arts colleges in the United States and also consistently ranks in the top ten among all colleges and universities in endowment resources per student and the top twenty in alumni gifts per student.

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