Central College receives $9 million gift from Geisler-Penquite Foundation
Central College has received a more than $9 million gift from the Geisler-Penquite Foundation, portions of which will go to scholarships. (Photo by Brooklyn Draisey/Iowa Capital Dispatch)Central College in Pella has received a more than $9 million donation from the Geisler-Penquite Foundation, the largest single gift in the college’s history.
Through the donation, the foundation and university established a full-tuition scholarship in honor of Gary Timmer, Central alum and former vice president for advancement, and Maurine Timmer, the college’s first women’s golf coach, according to a news release.
The couple played a large part in helping the university develop relationships with the families that would found the Geisler-Penquite foundation, according the the release, which has provided more than $5.2 million to the university for programming and scholarships over the years.
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“With deep appreciation, we celebrate the Geisler-Penquite Foundation for this transformative gift. We are grateful for the families and connections that have made this all possible. It is exciting to see the power of philanthropy open doors and foster a rich environment of learning for our students,” said Central College president Mark Putnam in the release. “This is an incredible investment in the future of the college and the legacy we share with the Geisler-Penquite Foundation.”
Director of Development Michelle Wilkie said in an email that the relationships formed more than 50 years ago have led to an amazing partnership that has benefited many students. While the foundation itself was established in 2009, the release stated, a charitable corporation was formed between the Geisler and Penquite families in 1969.
Wilkie said details of how the almost $9.08 million will be used are still being ironed out, but the university expects a “large investment in student scholarships and education,” in addition to the Timmer Family Scholarship.
“A gift like this is such a blessing. We are honored and humbled to be able to steward this gift and build on the legacy of the Geisler and Penquite families,” Wilkie said in the news release. “It will be exciting to share more details with our community on the direct impact of this gift as it comes together. In the meantime, we cannot thank the foundation enough. This is truly remarkable.”
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