Georgetown College rescued from debt after massive donations

GEORGETOWN, Ky. (ABC36 NEWS NOW) – Georgetown College recently celebrated a significant milestone as it successfully eradicated its $28 million debt, thanks to the generosity of 46 donors who rallied together to support their alma mater.

The monumental effort was spearheaded by a remarkable $16 million contribution from Mr. Robert Wilson, a distinguished member of Georgetown’s Class of 1962. This generous donation stands as the largest single gift in the college’s history. Wilson, the former Vice-Chairman of Johnson & Johnson, has long been a dedicated supporter of Georgetown College.

In addition to Wilson’s substantial contribution, seventeen other alumni stepped forward with six-figure gifts, further bolstering the college’s financial recovery.

Georgetown College President Rosemary Allen hailed this achievement as a transformational moment for the institution, recognizing the collective impact of the donors in securing the college’s future.

To commemorate this remarkable feat, Georgetown is planning a special celebration during Homecoming 2024, where a plaque will be unveiled to honor the donors who played a pivotal role in relieving the college of its debt burden. This gesture not only acknowledges the generosity of the donors but also serves as a symbol of strength and resilience for Georgetown College as it moves forward into a new chapter.