An investment partnership comprised of Ian Griffis ’85, David Birnbaum ’83, John Chalik ’67, Michael Millisor ’83, William Griffis ’78, David Lord, the college’s former business manager, and several friends of the college donated the ground water rights beneath an 806.57 acre parcel of land to the school. The parcel, located in nearby Douglas and Elbert counties, contains 1,331 acre-feet per year of Denver Basin water rights, an amount that is the equivalent of 434 million gallons of water per year.
“Water is one of our state’s most precious resources,” said CC President Jill Tiefenthaler. “This generous gift not only strengthens the college’s financial well-being, but also demonstrates how donors can make a significant impact at the college through giving of assets such as these.”
“Getting a gift of this nature — enough water for essentially 4,200 homes for 100 years — is both forward thinking and pertinent to the challenges we will inevitably face in the future,” said Vice President for Advancement Sean Pieri.
CC plans to retain the water rights as a long-term asset. When sold, the rights could ultimately add several million dollars to the endowment portfolio, with funds from the sale being used to establish a scholarship endowment.