Dear President’s Circle Member,

Welcome new members of the President’s Circle—all 127 of you. By increasing your financial support of Knox, you have helped to ensure the legacy of this great institution. Special welcome to members of the John Huston Finley Society. The Finley Society was created to encourage young alumni to step up as leaders in both fundraising and in telling the Knox story. To date, there are currently 68 members of the Finley Society. What a wonderful beginning!

It’s been an exciting summer for Knox College. 

On Saturday, June 4—standing a few feet from the site of the fifth Lincoln-Douglas debate—Senator Barack Obama gave the Knox College Commencement address on the South Lawn of Old Main. Challenging the Class of 2005 to find their “place in history,” he reminded them that in America, one’s place is not identified “for them, but rather by them.”

Senator Barack Obama (D-IL) addresses the Knox College Class of 2005.

Senator Obama’s visit to the Knox campus made a powerful impression on graduates,the Knox Community, and Galesburg area residents who attended Commencement. His visit made an impression on the Senator himself. In the July 4, 2005, issue of Time magazine, Senator Obama recalls his Knox Commencement address and reflects on the importance of Lincoln’s famous debate. In his article, “What I See in Lincoln’s Eyes,” Senator Obama writes, “I thought that even as Lincoln lost that Senate race, his arguments that day would result, centuries later, in my occupying the same seat that he coveted.”

Douglas Wilson, co-director of the Knox College Lincoln Studies Center, appears in the same special issue of Time. Wilson discusses Lincoln’s oratory skills in his article “They Said He was a Lousy Speaker.”

Knox welcomed 12 junior high school girls to campus on Sunday, June 12, for the first Knox College Girls Summer Science Camp. The College received over 200 applications for the camp from across the country. Directed and taught by Knox faculty, the summer camp was offered free-of-charge, thanks to the $1 million Howard Hughes Medical Institute grant that Knox received in May 2004 to support the summer camp and other initiatives.

On Wednesday, July 6, the College broke ground on the $2.4 million state-of-the-art fitness center that is being built on the west side of Memorial Gymnasium. Galesburg Mayor Gary Smith, City Alderman Lomac Payton, Chair of the Knox College Board of Trustees Diane Rosenberg ’63, and others gathered for this special occasion.

Thanks to leads gifts from Trustee Laurel Andrew ’86 and her family, as well as many other trustees, alumni and friends of the College who made gifts in support of the fitness center, the first phase of the Fitness and Athletics Initiative is now in full swing. This phase also includes the installation of a new sprinkler system in the T. Fleming Fieldhouse. The sprinkler system will allow use of the Fieldhouse for public events, including Homecoming. For the first time in recent history, the 2005 Friday-night Homecoming receptions will take place under one roof, allowing classmates from all years to meet and greet each other in this new and improved facility.

Charles Porter '52 (in yellow t-shirt) poses with the Knox wrestling team.

Charles ’52 and Priscilla Porter deserve special thanks for their generous gift to the Fitness and Athletics Initiative. The Porter's gift will be used for the construction of the Fitness Center and for upgrading the appearance and equipment in the existing wrestling, weight and workout rooms.

On June 30, the College’s fiscal year came to a close. The year with gifts totaling $5,283,167, more than $640,000 (or 14 percent) ahead of last year’s total. Gifts in support of the Knox Fund (the fund that directly supports the operating budget), however, took a dip, coming in at $2,430,827—$144,173 short of its $2,575,000 goal. Contributions from President's Circle members were up. Thanks to everyone who contributed this year, especially to those of you who increased your gift. Our College will continue to grow and prosper with your increased financial support.

As the College works to increase gift support and solidify its financial position on the revenue side, it continues to make good progress in controlling expenses. Just recently, the College entered into an interest rate swap with Piper Jaffray that locks in the interest rates on the College’s long-term debt. This agreement, orchestrated by Vice President for Finance Tom Axtell with assistance from some talented trustees, effectively smoothes over for future budget years the variations in debt-service expenses that would have resulted from varying (and probably rising) interest rates. As a result of this transaction, the College will likely pay less in long-term debt service and the annual budgeting process will be more predictable.

The 2004-2005 academic and fiscal year was both successful and exciting. From the accomplishments of students and faculty to Barack Obama’s Commencement address to the staff’s diligence and dedication to the financial stability of the College to you—President Circle members—for your continued financial support of this great College.

Have a happy and safe summer.

Sincerely yours,

Roger L. Taylor '63
President

OFFICE OF THE PRESIDENT Knox College, Box K142 2 East South Street Galesburg, IL 61401

309-341-7210 www.knox.edu