New College Announces $2.7M Gift from Philanthropist Ulla Searing
When matched by state funds, gift could become largest in the College's 46-year history 

(December 12, 2006) -- Just three months after announcing a record gift of $2 million from The Libra Foundation in the name of Rhoda Pritzker, New College of Florida today announced an even larger gift, this time from philanthropist Ulla Searing.  The $2.7 million gift is part of a charitable remainder trust that will be used to create the Ulla Searing Fund for Academic Excellence at the Sarasota-based liberal arts college. 

When matched by state funds, Searing's testamentary gift has the potential to become the largest in the College's 46-year history, surpassing the $5 million mark.  Money from the Ulla Searing Fund for Academic Excellence will be used to create a Searing Scholars Program for New College students and to support faculty development, student research, and faculty compensation enhancements.   

“Ulla Searing has been a friend and donor to New College for more than 20 years," said Foundation President John Cranor in announcing the gift. "It would be impossible to overstate the value her support has added to our academic programs and the impact she has made on our students."

In recognition of this most recent gift, New College officials announced that they will honor Searing during the New College Foundation's Annual Holiday Reception to be held this Wednesday (December 13) at 5:30 p.m. in College Hall.  Officials also announced that one of New College's five new residence halls will be named after Searing in appreciation for her longtime support of the College and its students.

"During this season of sharing and of giving thanks, it seems appropriate that New College should acknowledge someone who has given so freely to our institution over the years," said New College President Mike Michalson in anticipation of Wednesday's event. "We are deeply grateful to Ms. Searing for her support of New College and are proud to consider her a part of our institutional family."

Searing, who divides her time between Southampton, New York, and Sarasota, has been heralded as the grande dame of Sarasota society for her generous support of culture, the arts and education, both in the local area and across the country. In addition to New College, she has made substantial contributions to the John and Mable Ringling Museum of Art, the Florida State University Asolo Theatre and Conservatory, Lehigh University, and countless other educational and cultural institutions. She is the widow of the financier Arthur Searing, who died in 1983.