IDX's Tarrant gives St Michael's $1 million

-A A +A

IDX's Tarrant gives St Michael's $1 million

Tue, 09/28/2004 - 8:00pm -- tim

Local business executive honors his alma mater with another major gift
Richard Tarrant, chairman of IDX, makes $1 million gift to Saint Michael's
College
A legend in the Vermont business world, Richard Tarrant has led his
medical software firm IDX Corporation to heights of success, and all the
while he has given back to the local community, including to his alma
mater Saint Michael's College. He announced recently his plan to give a
gift of $1 million to the college to fund student scholarships.
The liberal arts residential Catholic college located in Colchester, two
miles from Burlington, lured Tarrant to Vermont to play basketball and
attend college in the 1960s. And he has been an active civic leader and
businessman in the area ever since, leading IDX to become a major
worldwide publicly traded company with some 2,100 employees and reported
revenues of $399 million in 2003.
"I was prepared for a professional path by my years at Saint Michael's
College. The institution will always be important to me," Tarrant said, in
announcing his gift. "Saint Michael's gave me a scholarship when I needed
the money; it's only fitting that I pay back now that I have the money." A
two-term member of the college's board of trustees, Tarrant understands
the challenges faced by an independent, Catholic college in the
competitive world of higher education. Looking at this campus, Tarrant
said, "I'm so impressed; what kid wouldn't want to go here."
Tarrant was on the Saint Michael's campus Saturday when he was inducted
into Pi Mu Epsilon National Mathematics Honor Society, of which he is now
a charter member, along with his partner in founding IDX, Robert Hoehl, a
1963 graduate of Saint Michael's College.
"Saint Michael's is profoundly grateful for the continuing support of
Richard Tarrant, a man who has done so much for this college, for
efficiency in health care delivery and for the Vermont community," said
Saint Michael's President Marc vanderHeyden. "We are especially honored
when a graduate of such distinction validates this college by his
continuing commitment to its future," vanderHeyden said.
His philanthropy will create the Tarrant Scholarship Program to provide
financial support for students who are academically qualified to attend
Saint Michael's but face financial challenges in funding their experience.
Tarrant's $1 million gift, to be expended completely over a five-to-seven
year period, provides significant support to the Saint Michael's student
financial aid budget, which now exceeds $17 million annually. Tarrant's
gift will be included in the college's $52 million Visions Campaign for
the Saint Michael's student scheduled for completion in June 2005.
This academic year, Richard Tarrant is celebrating his 40th anniversary of
graduation from Saint Michael's, while the college is celebrating the
100th anniversary of its founding in 1904. He has previously made gifts
that made possible construction of the Jeremiah J. and Kathleen C. Tarrant
Student Recreation Center, named in honor of his parents. That facility
provides recreation opportunities for all Saint Michael's students, not
just varsity athletes. He has also funded the Dion Scholarship at Saint
Michael's providing financial support to graduates of Rice High School, in
honor of Rice graduate Thomas Dion, who overcame significant obstacles to
achieve his education.
"On and off the basketball court, Rich Tarrant is admired by our alumni.
As an undergrad, he was an involved campus leader and athlete. He is
equally respected for his business prowess, phenomenal success in the
medical software industry and his tremendous generosity to this
institution. We are blessed with Rich's support of his alma mater because
he inspires others to also get involved." commented Richard V. DiVenere,
Associate Vice President for Alumni Affairs & Development.
Saint Michael's College, founded in 1904 by the Society of St. Edmund and
headed by President Marc A. vanderHeyden, has been identified by U. S.
News & World Report for 15 consecutive years as one of the top15 Master's
Universities in the North. A liberal arts Catholic, residential college,
located in Colchester, Vermont, two miles from the state's largest city of
Burlington, Saint Michael's was invited this year to join the elite group
of 270 colleges and universities nationwide with chapters of the
prestigious academic honor society, Phi Beta Kappa, on campus. Saint
Michael's has 1,900 full-time undergraduate students, and another 650
graduate students and 200 international students, studying part time. A
highly respected, vibrant academic community, Saint Michael's College was
named in 2003 by Newsweek magazine a "Hidden Treasure," one of 30 colleges
recommended most frequently by guidance counselors for being "schools that
deserve more national recognition." -30- Note to editors: Richard Tarrant
can be reached for comment through his office at IDX at (802) 862-1022.