PIPPA PASSES — Alice Lloyd College announced Friday a $10 million endowment from The Bill Gatton Foundation, marking the largest single gift to its endowment fund in the college’s history.

The college said in a press release that the donation will support its mission to prepare graduates to return to and serve the Appalachian region.

The unprecedented gift is a nod to Bill Gatton’s legacy and the Foundation’s commitment to carrying on Gatton’s vision of supporting educational opportunities in Appalachia.

Gatton, a successful businessman and philanthropist who died in 2022, was known for his dedication to education in underserved regions, particularly his native Appalachia.

“We are incredibly grateful and appreciative to The Bill Gatton Foundation and its trustees for this historic grant,” said President Jim Stepp. “We are honored to partner with the foundation to carry on Mr. Gatton’s legacy of leadership, entrepreneurship and hard work.”

Founded more than a century ago as Caney Junior College by educator Alice Lloyd, the school was established to train and send highly educated Appalachians back into their communities as leaders and change-makers. Today that mission continues through programs like Alice Lloyd’s graduate scholars initiative, which funds postgraduate and professional school education for graduates committed to returning to Appalachia.

According to the college, about 83% of scholarship recipients fulfill this pledge.

The Gatton gift will also support the maintenance and operation of Caney Cottage, a residence hall in Lexington that provides Alice Lloyd graduates with affordable housing as they pursue graduate degrees at the University of Kentucky.

The Gatton Foundation has long supported education in Kentucky, and this endowment will further expand the college’s capacity to equip Appalachian students for lives of service in the region.