Rutgers Has Record-Breaking Year With More Than $121 Million in Donations

NEW BRUNSWICK, N.J. – Rutgers has set a new record in private donations to the university, raising more than $121 million in new gifts and pledges during the 2007-08 fiscal year – an increase of nearly 9 percent over last year’s total of $111.5 million. Rutgers President Richard L. McCormick noted that the great majority of the total amount is committed to supporting students, faculty and academic programs.“

Despite difficult economic times, many individuals, foundations and corporations have again demonstrated unprecedented confidence in Rutgers and our commitment to academic excellence,” McCormick said. “Their generosity makes it possible for us to increase student aid, enhance academic programming and facilities, and support the scholarly work of our faculty.”

More than $34 million has been designated for student support, including scholarships; $32 million for faculty development; and more than $36 million for program support at the university.

Carol P. Herring, president of the Rutgers University Foundation and vice president of development and alumni relations, noted that donors are enthusiastically supporting the mission of the university and eager to contribute to the success of its students and academic programs.

“Rutgers’ profile continues to rise nationally,” Herring said. “Having four Gates Scholars, a Pulitzer Prize-winning alumnus in Junot Diaz, and launching the Rutgers Future Scholars Program are among the achievements and initiatives that have helped raise the university’s visibility and inspire the support of donors at all levels of giving.”

Generosity and inspiration took many forms, from $10.5 million awarded to health-related programs by the Robert Wood Johnson Foundation, to more than $38,000 raised by two Bergen County high school students for Rutgers students struck by personal calamities that threaten their ability to stay in school.

Highlights of giving during the fiscal year 2007-08 include:

Individual Gifts

• The Mario Family Foundation awarded $5 million to support graduate fellowships in the Ernest Mario School of Pharmacy.
• Jerome and Lorraine Aresty donated $3 million for a chair in cancer research.
• Adam Schwartz and Alex Sonageri, students at Northern Highlands Regional High School in Allendale, have raised $38,000 to date for a recently established Emergency Scholarship Fund that helps with tuition support for Rutgers students in dire need due to sudden personal calamities, such as health emergencies or unemployment.
• Charles A. DeMarzo, an alumnus of Rutgers Business School, bequeathed $2.5 million to endow a chair and fellowship at the Graduate School of Education.

Foundation Gifts

• The Robert Wood Johnson Foundation gave $10.5 million to Rutgers for various health-related education and research initiatives and programs that include student support and faculty development in nursing education and other disciplines.
• The Bernard Osher Foundation made a $1 million endowment to the Osher Lifelong Learning Institute at Rutgers, which offers educational programs to members of the community who are 50 years and older. The foundation also awarded $1 million for Osher Reentry Scholarships that support students who have had a significant break in their education and are now seeking their first baccalaureate degree.
• The Andrew W. Mellon Foundation awarded $2.8 million to the School of Arts and Sciences – its largest grant to the university to date – to support humanities graduate programs, including stipend enhancements for recruiting, summer research/writing grants, and a competitive dissertation fellowship program.

Corporate Gifts

• Prudential pledged $5 million to help support Rutgers Business School-Newark and New Brunswick, including an endowed chair and a center dedicated to business ethics and leadership.
• The PSEG Foundation provided a $2 million leadership gift to support the business school’s new facility in downtown Newark.