Dot Foods, the nation’s largest food industry redistributor, will make a $1.3 million contribution to Quincy University to aid in the school’s financial recovery efforts. The donation marks one of the largest financial gifts in Dot’s 57-year history.
“We are very happy to be able to assist Quincy University with this donation,” said Dot Foods CEO Joe Tracy. “QU is a vital part of the west central Illinois community, and Dot believes that when our communities thrive, we all thrive. The university has a long history of providing excellent education in our region, and we want to see QU continue that work for years to come.”
The Quincy, Illinois, based Catholic university is located just 40 miles from Dot’s corporate headquarters in Mt. Sterling. Quincy University announced last fall that it faces a budget deficit of $5 million. Since that time, QU has hired a new Chief Operating Officer and Chief Financial Officer. The new leadership developed a three-pronged plan to address the financial turmoil which includes cost reductions, increasing tuition revenue and a $7 million fundraising effort over the next five years.
“This gift is the second largest in QU’s 157 year history and comes at a critical time for the university’s long term survival. We have enjoyed a strong relationship with Dot Foods for the past several years including a very robust internship program,” said Dr. Robert Gervasi, QU President. “This investment will go a long way in helping the university regain financial stability in a rapidly changing higher education environment. It shows that Dot believes in QU’s value as an asset to our region. Hopefully this will pave the way for others to participate in the financial recovery plan.”
“More than 500 of Dot’s employees call Adams County home,” Tracy said, “And we’re fortunate to count 45 Quincy University alumni amongst our team. QU is doing its part to work through the financial challenges the school is facing, and Dot is grateful to be able to lend a hand.”