Unity College announced a gift of $10 million for unrestricted endowment from an anonymous donor on Aug. 23. According to a press release from the college, the gift is unprecedented in the school’s 45-year history and will more than triple its existing endowment.

New President Stephen Mulkey announced the gift as part of his first State of the College address on August 23. The money will create $500,000 in additional annual operating revenue or about 4% of the college’s overall budget, he said, noting that the additional revenue is especially important for a small college like Unity that relies so heavily on tuition each year

“The donor’s intent to provide unrestricted support comes with great responsibility,” Mulkey said.  “Climate change is one of the gravest challenges we’ve faced and we have an ethical imperative to provide a 21st century approach to sustainability science and to include this in our curriculum.”

Mulkey described the $10 million donation as a tremendous vote of confidence in the college.

“A gift of this magnitude and purpose speaks highly to the work of everyone at Unity College.  It is a clear signal of the value of their efforts and the importance of the education Unity College provides.”

The college also reported receiving significant support recently from The Kendeda Fund to construct the first Passive House standard student residence in the U.S. and from the Unity Foundation for “capacity building.”