Gifts Bring New School Effort to $22.5 Million
Thanks to $6.7 million in new gifts and pledges received since the beginning of the 2008 fiscal year—including a scholarship named in honor of Director Bruce Kuniholm—the effort to transform the Terry Sanford Institute into a new School of Public Policy has now raised nearly $22.5 million.
The institute seeks $65 million in new endowment—$40 million for new faculty positions and $25 million for scholarships, fellowships, internships and other forms of student aid. President Richard Brodhead and Provost Peter Lange have set a threshold of $40 million by June 30, 2009, for recognition of the institute as Duke University’s tenth school.
The recent gifts will establish new scholarships for undergraduates majoring in public policy studies and fellowships for students in the new school’s graduate programs. The total includes $3.25 million in matching funds from the Duke Financial Aid Initiative (FAI), which seeks to add $300 million in endowment to support student financial aid across the university.
“We are grateful to everyone who has made a commitment to training the leaders of tomorrow, especially to the donor who is honoring Bruce’s outstanding leadership by establishing a scholarship in his name,” said Anna Reilly, the Sanford Institute Board of Visitors’ co-chair for development. “Our endowment effort is ahead of schedule, the momentum is building and we are well on our way to making Duke the best place to be for students who want to build a better, safer and more equitable world.”
Gifts received since July 1, 2007, include:
- A gift of $1 million from the Araskog family to the Araskog Scholarship Fund. A matching FAI gift will add an additional $1 million to the fund, 25 percent of which will provide support for undergraduates pursuing degrees in public policy studies. William Araskog (PPS ’82, MBA ’83) is managing member and investment manager, WRA Investments LLC and a member of the Sanford Institute Board of Visitors.
- A gift of $500,000 to establish the Mark and Lynne Florian Scholarship Fund, which will provide scholarships for undergraduate PPS majors. Mark Florian (T ’80) is COO in the municipal finance and infrastructure group at Goldman, Sachs & Co. and is a member of the Sanford Board. The gift will receive a $500,000 match.
- An anonymous gift of $500,000 to create the Bruce R. Kuniholm Scholarship. A matching FAI gift will create a fund of $1 million, which will provide scholarships to undergraduates pursuing degrees in public policy studies. The donor praised Kuniholm for his transformational leadership, superb scholarship, and outstanding teaching during more than 30 years at Duke.
- A gift of $500,000 to establish the Bruce Hardy McLain Scholarship. Hardy McLain (PPS ’76) is a managing partner and co-founder of CVC Capital Partner Group in London. His gift will also receive a $500,000 match.
- A gift of $500,000 from the Massachusetts Mutual Life Insurance Co. to establish two endowment funds in memory of Susan Bennett King (W’62.) One fund will support scholarships for undergraduate PPS majors and the other will provide fellowships for graduate students. From 1981 until her death in July 2004, King, was a member of the Sanford Institute Board of Visitors, serving as chair from 1985-88. She also served on the Duke Board of Trustees. The gift will receive a $500,000 match.
- A gift of $250,000 to establish the John Bassett and Margaret Smith Ford Scholarship Fund, which will provide scholarships to undergraduate students who are pursuing a degree in public policy studies with a certificate in policy journalism and media studies. John Ford ( T’73) is the president and general manager of the Discovery Channel. A $250,000 FAI match will create an endowment fund of $500,000.
- Two anonymous gifts of $50,000, each of which will support scholarships for PPS majors.