St. Thomas Receives a Record $50 Million Gift from Grateful Alum

The University of St. Thomas has received a record-setting $50 million gift for undergraduate student scholarships from a Minnesota philanthropy started by one of its most accomplished alumni, real estate developer Gerald Rauenhorst. GHR Foundation’s gift is the largest ever given to a Minnesota college or university for scholarships and the kickoff for an ambitious drive to raise $200 million, which would double the St. Paul-based university’s scholarship endowment, said St. Thomas President Julie Sullivan.