Alum gives McCallie $19 million

McCallie School
McCallie School
photo McCallie School

An alumnus of McCallie School has anonymously donated $19 million to his alma mater.

"It was the donor's personal McCallie experience -- and the school's continued commitment to that experience for a new generation of boys -- that was the foundational reason for this amazing gift," said Penny Grant, director of development at McCallie.

McCallie, founded in 1905 by the McCallie family, has historically been an all-boys private school in Chattanooga. It began with an enrollment of 48 boys, and today has approximately 900 students enrolled in grades six through 12.

McCallie Headmaster Lee Burns said, "[The] donor's gift reflects their belief in our mission, their pride in the school, and trust that their investment will be used wisely."

Burns said the money will be placed into the school's endowment fund. Interest from this fund is used annually to support programs and school operations, including professional development opportunities for teachers and tuition assistance for families.

"We want to enroll talented boys regardless of the financial circumstances of their families, and our growing endowment enables us to offer a significant tuition assistance program," he said.

Grant said financial gifts of this magnitude almost always take many years and a lot of different hands to make a reality.

"These 'mega gifts' are rare, and oftentimes they are not given for public recognition," she said.

Both Burns and Grant emphasized the importance of all donors -- of any gift size -- who have collectively given millions to the school over the years.

"This gift, along with those from thousands of other alumni, is testament to the fact that McCallie has a profound, lifelong impact on our graduates," Burns said.

Contact staff writer Kendi Anderson at kendi.anderson@timesfreepress.com or at 423-757-6592.

This story was updated at 8:42 a.m. to correct that donors have given millions of dollars to the school, not billions, as previously stated.

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