From the Office of Development and Alumni Relations:
Fact #1: Beloit College is a non-profit, supported by gifts, and our graduates change the world.
When you think of nonprofits, you might think of the Sierra Club, Humane Society, Planned Parenthood, or Doctors Without Borders. You probably think of organizations that feed the hungry, protect endangered animals, or advocate for particular groups of people. But did you know that Beloit College is a nonprofit, too?
Beloit College isn’t a business that exists to make money; it’s an institution that exists with the mission of empowering its students “to lead fulfilling lives marked by high achievement, personal responsibility, and public contribution in a diverse society” and equipping its students to “approach the complex problems of the world ethically and thoughtfully.” And just like other nonprofits, Beloit College relies on gifts and grants to operate and serve that mission.
The money that students pay in tuition, room and board, and other fees only covers part of the cost of operating Beloit College. So, tuition ‘runs out’—then what? Gifts from those that support Beloit’s mission make up the difference.
You may not think of Beloit as the primary force behind addressing pressing needs, but the college equips the next generation of leaders who will go on to tackle those challenges directly through LAP experiences, or after graduation by teaching, discovering, saving lives, and founding or working at non-profits and social enterprises that change the world.
This article is part of an informational series related to Tuition Runs Out Day. Keep an eye out on campus for more “Did You Know” fliers and other information, and check back tomorrow for another fact.