SIOUX CITY | A $50 million capital campaign is expected to bring big changes to Morningside College in Sioux City.
The campaign, announced Thursday, is seeking $50 million for construction, renovations, endowment growth and scholarships. About $31 million has already been raised from alumni and community members since Oct. 12, 2011.
College President John Reynders said the campaign will fund construction of an "academic village," which will include a new academic advising center with classes for nursing, education and agriculture industries students. The library, Eppley Auditorium and the Dimmitt Residence Hall will also be renovated.
About $18 million will be used for construction and renovations, $13 million will be added to the endowment and $19 million will be used for scholarships. The current endowment, which is similar to a savings account, is about $40 million.
Reynders hopes to finish in time for the colleges 125th anniversary in 2019.
"To already raise $31 million in these times speaks volumes to the impact this place has had in making successful young people," Reynders said. "This place, it matters to Siouxland, it matters to current students and it matters to alumni."
Jim Walker, chairman of the campaign's steering committee, said the college wants to add a library entrance that leads to a campus mall. The new 37,000-square-foot academic advising center will be located next door.
With enrollment up nearly 70 percent in the past decade, Walker said the upgrades will keep Morningside College an attractive location to pursue an education.
The projects are also expected to benefit the Sioux City region.
"The results of the campaign will be an economic stimulus to this region in excess of $100 million," Walker said. "Eighty-five percent of that will be from outside of Sioux City."
The economic multiplier will come from the cost of construction and labor, and from students spending their money in Sioux City.