Thomas Aquinas College Gets Endowment From Ex-U.S. Official

Thomas Aquinas College, the liberal Catholic college tucked away in this small rural town, is now basking in the light of philanthropic generosity after receiving a sizable endowment from a former national leader.

Former U.S. Secretary of the Treasury William Simon, current chairman of the New York-based John M. Olin Foundation, has pledged a personal $500,000 endowment grant to the college.

The money will be added to the college’s already hefty $7-million endowment and will be used to expand its financial aid program and give deserving students, who might otherwise not have the resources to attend, the chance to enroll.

“That is why the generosity of donors such as Mr. Simon is so important,” college President Thomas Dillon said. “It provides the financial aid which makes a Catholic liberal education available to those who deserve it.”

According to administrators, Simon decided to make his donation to support the college’s liberal curriculum and reliance on the Great Books--tomes by such notables as Aristotle, Ptolemy, Plato and Herodotus.

A year’s tuition, plus room and board at the small college, costs $19,200.

“Many of our students aren’t from wealthy families so without financial aid, tuition is quite a stretch,” said Don Boardman, spokesman for the college. “This is a wonderful gift because it gives all of us a nest egg.”

Simon’s gift will be paid to the college over a three-year period. Administrators estimate Simon’s gift will fund the tuition of at least five students.

This isn’t the first time a private religious school in the county has been the recipient of a large donation.

Last July, 87-year-old Port Hueneme resident Jeanette Jordan left $475,000 to the all-girls La Reina High School, which depends on funding from donations and fund-raisers.

That money has helped pay for a new air-conditioning system and computers for students.

For Thomas Aquinas College, however, Simon’s gift will fund more than physical improvements.

“It’s something to donate money for a building because after it’s done there’s something tangible to look at, but funding education is quite different,” Boardman said. “Basically, students are our most valuable assets and this money will go a long way toward helping both them and the college.”