New College of Florida Announces $600,000 Scholarship Gift from Keith and Linda Monda
With state match, gift totals over $1 million
June 24, 2011 — Local philanthropists Keith and Linda Monda have made a major gift for scholarships to New College of Florida, the State’s designated honors college for the liberal arts and sciences.
The $600,000 gift was announced by New College Foundation President Andrew Walker. It will be used to endow scholarships for out-of-state, need-based students who attend the four-year, liberal arts college located in Sarasota.
“Keith and Linda Monda’s significant generosity helps ensure New College’s ability to attract top students from around the country,” Walker said. “Such students add significantly to the diversity of our campus and enrich the educational experience for all. Many remain or return to the area after graduation, creating new businesses and benefiting the region’s economy and quality of life.”
Keith Monda is the former president and chief operating officer of Coach, Inc. in New York. Prior to joining Coach, he held executive positions at the Timberland Company, J. Crew, Bunge Corporation and Pfizer, Inc. He is a member of the New College Board of Trustees. He and his wife Linda moved to Sarasota several years ago.
The Mondas have a legacy of supporting education, children and conservation. Linda holds a bachelor of science in business administration from Iona College, and Keith has a bachelor of science degree in business administration and a master’s degree in economics from Ohio State University. Keith is currently a member of the Ohio State University Foundation Board, chair of the Advisory Committee for the Executive Dean of Arts & Sciences at Ohio State, and chairman of the Arts & Sciences Ohio State University Capital Campaign.
“Ohio State is my alma mater, but Linda and I believe New College’s outstanding students deserve our support,” Mr. Monda said. “When we first moved here, we were immediately attracted to New College because of its high academic standards, intimate learning environment and superb faculty. We consider New College to be a true gem among liberal arts colleges.
“In endowing this scholarship, we want to make sure that students from all over the country, regardless of their financial situation, can look at New College as a viable option for their continuing education.”
The Mondas’ gift will be matched 70 percent by the State of Florida, bringing its total value to $1,020,000. With the state match, the endowed scholarship should generate between $40,000 -$50,000 annually in scholarships for students attending New College from outside Florida.
Currently, an endowed gift of at least $100,000 triggers a matching state grant, but that is set to change, says College President Gordon E. Michalson, Jr.
“The Mondas’ gift is especially timely as the State is suspending its matching gifts program for education after June 30, 2011,” he explained. “We greatly thank the Mondas for their great generosity and call on other New College friends to make gifts that can be matched before the program is suspended on June 29th. If individuals are considering making a major gift to the College, now is the time,” Michalson said.
New College of Florida is a public liberal arts college located in Sarasota, Florida. Founded as a private institution, it is now the legislatively-designated honors college for the liberal arts and sciences of the State of Florida. Often referred to as “graduate school for undergraduates,” New College has graduated more than 50 Fulbright scholars in the past decade and is ranked by The Princeton Review as the country’s #2 “best value” among all public colleges and universities in the United States. Students come from more than 40 states and 11 countries, and one in five New College students is the first person in his or her family to attend college.
For more information about gifts to New College, please call the New College Foundation at 941-487-4800.