May 25, 2001

A Messy Fight Over Money Divides Mount Holyoke

By KIT LIVELY

Who owns the annual fund: the college or its alumnae?

For the better part of 130 years, Mount Holyoke College has had a relationship with its alumnae association that most institutions would kill for. Now the two are at each other's throats, in an unusually bitter and public dispute.

At issue is who owns an annual fund to which 51 percent of the college's alumnae contributed last year, to the tune of $8.2-million. Both the college and the alumnae

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