Kathleen Waldron, Baruch's New President, Announces Historic Gifts of $53.5 Million
Baruch Reaches $160 Million in Capital Campaign as Alums Offer Broad Support for Programs and Campus Landmarks
It was a storybook setting, with low light, gorgeous flowers, and men and women dressed for the ball. But no storyteller would dare offer a more fairy tale set of circumstances than were laid before Dr. Kathleen Waldron last night, by a group of loyal alumni and longtime supporters of Baruch College, as Baruch's new President stepped forward to meet 200 friends of the College at her first annual Presidents' Dinner at Baruch.
Waldron's job was to announce to the glittering crowd in the Newman Vertical Campus conference center dining room that alumni William Newman, Larry N. Field, Lawrence Zicklin, Marvin Antonowsky, William F. Aldinger III and one anonymous donor were making gifts to the college that total an astonishing $53.5 million. The gifts will be dedicated respectively to Baruch's award-winning Newman Vertical Campus facility, which will be called the William and Anita Newman Vertical Campus; the restoration of its original classroom building at the historic site of 17 Lexington Avenue, which will be called the Lawrence and Eris Field Building; a chair in entrepreneurship; the College's flourishing performing arts center; an endowment for the College's influential Center for Financial Integrity (now known as the Robert Zicklin Center for Corporate Integrity); and a chair in banking and finance.
This marks an extremely important day in the distinguished history of Baruch College, which has been an agent of transformation and prosperity for so many of this city's first-generation students for fifty years, said Waldron of the gifts. It's an overwhelming show of support and provides powerful momentum as Baruch continues to achieve educational excellence while remaining accessible and affordable to the city's most ambitious and hardworking students. I know I speak for the whole Baruch community in expressing deep gratitude to each of these remarkable alumni.
Waldron, a former dean at Long Island University and a former vice president of Citibank, began her tenure as Baruch's president in August of this year, succeeding Ned Regan, former New York State comptroller, who served in the post from 2000 to 2004 and who was named a University Professor.
The $25 million gift from William Newman ('47) and his wife, Anita Newman , is the largest of the set, as well as the largest cash gift CUNY has received to date and one of the largest in the history of public colleges in New York State. The gift leads to the naming of Baruch's award-winning Newman Vertical Campus, which opened to rave reviews from critics and students alike in 2001. Newman has a long history of support for Baruch, founding the Steven L. Newman Real Estate Institute, initiating the Newman programs in real estate, and supporting the renovation of school's library, which was named best college library in the nation in 2003 by the academic arm of the American Library Association.
Lawrence N. Field ('52) and Eris Field are also longtime supporters of causes at Baruch. The Fields are making a $10 million donation that will focus on support of a planned renovation of Baruch's original classroom building at 17 Lexington Avenue, which will be known as the Lawrence and Eris Field Building. The site is of historic interest not only as the original Downtown City and, later, Baruch College location, but also because it stands where the nation's first public institution of higher learning, The Free Academy, opened its doors in 1847. In addition, the Fields have donated $2 million to fund The Larry and Eris Field Family Chair in Entrepreneurship, expanding the scope of the Field Center for Entrepreneurship, which the Fields endowed in 1999.
The third largest gift in the set is an anonymous bequest of $10 million, which comes to the College without restrictions.
A successful executive in film and television, Marvin Antonowsky ('49, '52 MBA) has donated $2.5 million in support of what will be known as the Marvin Antonowsky Performing Arts Complex, which, in state-of-the-art facilities in the new Newman Vertical Campus, has become home to several of New York's premier groups in Off-Broadway theater, dance, music and performance, as well as to student productions and combined professional-student performances and readings.
Lawrence Zicklin ('57) and his wife, Carol Zicklin , have donated $2 million to create an endowment for Baruch's Robert Zicklin Center for Corporate Integrity, which sponsors research and public events exploring issues of ethics in corporate governance, auditing and accounting standards, and financial reporting practices. Zicklin, who gave $18 million in 1997 to the Zicklin School of Business at Baruch, is chair of Baruch's non-governing board, The Baruch College Fund, as well as former chairman of Neuberger Berman Inc., a money management firm that recently merged with Lehman Brothers.
William F. Aldinger III ('69) is chairman and chief executive officer of HSBC North America Holdings Inc. He has donated $2 million to fund the William F. Aldinger Chair in Banking and Finance.