1 month, 1 week ago by Scott Hardy
Second-largest in school history
Quincy University has received another large donation to help its' financial recovery.
DOT Foods announced Wednesday that it's made a $1.3 million contribution to QU, saying it's one of the largest financial gifts in the company's history. In a statement from the University, DOT Foods CEO Joe Tracy calls QU quote, "a vital part of the west central Illinois community, and Dot believes that when our communities thrive, we all thrive". Out-going QU President Dr. Robert Gervasi calls the gift the second largest in QU's 157 year history, and says it comes at a critical time for the university's long term survival. The school says that with the donation, they're more than half-way toward their $7 million fund-raising goal.
The fund-raising effort started last fall, after QU announced it faces a $5 million budget deficit. The school's hired a new Chief Operating Officer and Chief Financial Officer, and eliminated 14 positions.