GHR Fellows FAQ

How is this gift transformational for St. Thomas?

This is the largest scholarship gift ever received by St. Thomas, and GHR Foundation intends it to inspire other transformational scholarship gifts as well as broader alumni giving at all levels. This gift kicks off a new initiative by St. Thomas to infuse $200M for scholarships by 2025. If achieved, the St. Thomas endowment would increase from $500M to $650M, placing it among the top three endowments at private universities in Minnesota (with Carleton College and Macalester College).

With this gift, St. Thomas will have the ability to attract top business students who might not otherwise consider the university, especially first-generation students and those from outside Minnesota. Sixty GHR Fellows (across all four classes) will receive fast-tracked learning and leadership development, preparing them to profoundly impact the Twin Cities, Minnesota and the global community.

What does endowed scholarship mean?

Endowed scholarships are donations that provide funding in perpetuity, as opposed to one-time awards or short-term funding for a scholarship. Endowed scholarships require a large donation, which provides a permanent asset from which students can receive support. The gift becomes a fund managed by the university, whose investment objective is to achieve growth that is sufficient to fund the scholarship without expending the principal amount.

Is the university only seeking endowed scholarships?

No. The university appreciates any and all donations to scholarships and student support. No gift is too small or too large. The goal of the current scholarship drive is to endow $150M of the $200M target to ensure scholarship funds for future generations of students.

Is this the largest gift St. Thomas has ever received?

While not the largest gift received by St. Thomas, it is within the top three. It is the largest gift designated for scholarships received by St. Thomas or any other Minnesota college or university.

When will the first GHR Fellows be announced?

Applicants can start applying to the program in fall 2018 with the first GHR Fellows starting at St. Thomas in fall 2019. Students graduating high school in 2019 will be encouraged to apply; award notifications will be expected in March 2019.

How will the program be marketed to prospective students?

St. Thomas will develop an integrated marketing campaign specifically to generate awareness of the GHR Fellows among targeted prospective students. This will include national and regional influencer outreach, organizations likely to interact with the targeted population, the St. Thomas alumni network, and digital and social media. These efforts will kick off with the announcement on Nov. 16. Information about the scholarship also will be integrated into all of St. Thomas admissions materials as part of the 2019 recruitment cycle. A website and request for information form will launch Nov. 17.

If a GHR Fellow changes majors (i.e., no longer wants to major in business) what happens to their scholarship?

Funding for the GHR Fellows scholarship is 50 percent funded by GHR and 50 percent by St. Thomas. In the event a GHR Fellow changes majors, they would forego the 50 percent of their scholarship funded by GHR but would retain the 50 percent funded by St. Thomas.

Is there also support for room and board for students with demonstrated need?

Yes. To ensure access for all qualified students, GHR Fellows with a demonstrated financial need can qualify for a room and board stipend.

How many GHR Fellows is the university looking to recruit?

Ten GHR Fellows are projected to start in the 2019-20 school year with the number of GHR Fellows on campus across all four years expected to be 60 once the program is fully rolled out.

Why did GHR choose the University of St. Thomas for this partnership?

GHR founder Gerry Rauenhorst credited St. Thomas for opening his eyes to the world, shaping his life and informing his future business decisions. He and his wife, Henrietta, had a lifelong relationship with the university and were instrumental in establishing the Minneapolis campus, the Opus College of Business and gaining accreditation of the college. With continued confidence in the university, GHR Foundation carries on this longtime partnership with St. Thomas in consideration of a shared commitment to the same goal: the development of innovative, ethically minded, community engaged, globally aware business leaders.

What sets the Opus College of Business education apart from other undergraduate business programs?

The Opus College of Business at St. Thomas is the only private business school in the state accredited by the primary accreditation organization for top business schools in the world, the Association to Advance Collegiate Schools of Business.

Consistent with its Catholic heritage, principled leadership and ethics are critical parts of the St. Thomas curriculum. Business graduates have a strong sense of purpose and have been shown the importance of giving back to the community. St. Thomas prioritizes hands-on, practical learning experiences. Graduates enter the workforce with a real-world-ready skill set. Employers report Tommies add value from day one. The success of St. Thomas graduates in the business community – often climbing to the top of the C-suite – speaks to the impact of a St. Thomas business education.

In addition to teaching strong business fundamentals, the Opus College of Business is known for a strong entrepreneurship program through its Schulze School. It is not uncommon for students to start one or two businesses while still enrolled at St. Thomas. For those not interested in starting a business, entrepreneurial principles are still highly relevant to succeeding in today’s business environment, which demands creativity, innovation and an ability to pivot quickly when new challenges arise.

What will this scholarship mean for the Twin Cities and the state of Minnesota?

GHR Fellows will have a positive impact on the communities in which they reside. It is expected that many will choose to reside in Minnesota and the Twin Cities. These graduates will have the leadership skills and civic commitment to make a positive difference in whatever business they join (or start).

What role did GHR have in shaping the GHR Fellows program?

GHR Foundation and the university worked closely with community stakeholders to structure the GHR Fellows program to appeal to high-potential students interested in business, and provide those chosen as GHR Fellows with fast-track learning and leadership development with wraparound support services. It is standard practice for donors to participate in structuring award criteria and program benefits accompanying their scholarship gifts prior to those scholarships being awarded.

Will GHR be involved in choosing the GHR Fellows? How will GHR Fellows be chosen? Who’s on the selection committee?

GHR Fellows will be chosen by a committee comprised of representatives of St. Thomas admissions, financial aid, and Opus College of Business faculty and staff.