166 THE HISTORY OF WAKE FOREST COLLEGE
In acknowledging that total Dr. Tribble said that all Wake Forest
people "must forever remember most appreciatively the fact that the
Z. Smith Reynolds Foundation opened the door of opportunity and
invited the century-old school to enter the new
era."2
The foundation's support can be charted as follows:
Building Fund Grants
Date Sum Purpose
1952 $2,000,426 Income accumulated under the 1946 contract
1952 1,500,000 To fulfill a challenge gift made by W. N. Reynolds
1953-55 1,200,000 Contractual grants
1959 750,000 For Mary Reynolds Babcock dormitory
Total $5,500,426
Operating Budget Grants
1956-67 $5,500,000 Total of annual grants including the increased
amount of $500,000 a year
1962 30,000 Financing for Graduate School study
1967 18,651 Income at 4 percent on funds raised toward chal -
lenge grant
Total $5,548,651
College
Total $11,049,077
The foundation also made separate grants to the Bowman Gray School of
Medicine, as follows:
1956 $ 250,000 Building fund
1957-63 1,058,400 Scholarship funds at an annual rate of $151,zoo
1960 35,000 Surgical transfusion research
1960 75,000 Medical library books
1961 20,000 Additional to surgical transfusion research
1963-65 375,000 Medical School's quarter share of funds given for
Medical Center, which involved Baptist Hospital
1964-67 600,000 Scholarship funds at an annual rate of $150,000
$2,413,400
Grand
Total $13,462,477
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