Contrary to what many believe, Grove City College does not have a large endowment from which it draws interest to offset day-to-day expenses. At the direction of two great former trustees, Joseph Newton Pew and his son and eventual successor J. Howard Pew, the College specifically does not have such an endowment. This ensures that the College's daily operations are conducted efficiently. By adhering to such wise guidance, Grove City College is known today as one of the nation's premier values in quality higher education.