Vol. 19, No. 1, Spring 2006
The Campaign for Hofstra University
A Critical Step Forward in Hofstra History
Hofstra University's first Capital Campaign in almost 20 years was announced by Hofstra President Stuart Rabinowitz at the University's 10th Annual Gala on May 4, 2006. The campaign, which will raise $100 million, aims to enhance Hofstra's academic initiatives and further the University's reputation as a center of academic excellence.
To adequately fund scholarships, awards and prizes for students and faculty, the University hopes to raise money for the endowment.
In his announcement, President Rabinowitz outlined five areas that have been identified as immediate campaign priorities:
- The endowment, funding scholarships, awards and prizes for students and faculty.
- Capital projects and renovations, including a new facility for Honors College, classroom space enhancements and a fine arts museum.
- Technology upgrades.
- Programs such as a suburban issues think-tank and other academic and community initiatives.
- The Annual Fund, which provides unrestricted support for Hofstra's academic mission.
Only weeks into the newly announced campaign, a number of gifts have put Hofstra well on its way to meeting these goals, with almost $60 million in pledged donations to date. Over the past few months, Hofstra announced a number of major gifts to the University.
In March 2006 Hofstra received a $6 million gift for its Honors College, one of the largest donations and the largest individual gift ever made to the University. The gift is from Hofstra Board of Trustees Chair John D. Miller '79, the retired CFO of Arterial Vascular Engineering. Mr. Miller's gift was followed by generous gifts from other Hofstra alumni and friends of the University:
David S. Mack '67, president of The Mack Company and a Hofstra trustee, donated $4.35 million for scholarships and other purposes. Mr. Mack is vice chairman of the Metropolitan Transportation Authority and a commissioner of the Port Authority of New York and New Jersey.
Marilyn Monter '76, a graduate of Hofstra Law School and secretary of Hofstra's Board of Trustees, donated $1 million for scholarships and capital improvements. Ms. Monter is vice president of the Holiday Organization, real estate developers of Westbury.
Joseph M. Gregory '74, president and chief operating officer of Lehman Brothers and vice chairman of Hofstra's Board of Trustees, has donated $2 million to the University.
Hofstra Law School alumni Andrew Boas '80, general partner of Carl Marks Management, LLC, and Mark L. Claster '77, president of Carl Marks & Co., Inc., pledged a major gift in support of the Law School's Child and Family Advocacy Fellowship Program. Their gift, the amount of which was not announced publicly, comes just as the Law School selects the recipient of the Child and Family Advocacy Fellowship for next year's entering class, who will now be named Boas or Claster Fellows.
A $500,000 gift from the family of Ishar Singh Bindra will establish an international prize to be given by Hofstra University to individuals or organizations that promote interfaith harmony. The first award is planned for 2008. The Bindra family previously endowed the Sardarni Kuljit Kaur Bindra Chair in Sikh Studies, a cornerstone in Hofstra's newly established Department of Religion. Both gifts are intended to increase understanding of different religions.
Helene Fortunoff, president of the jewelry division of the retail chain that bears her family name, has also pledged a gift to the University. Her donation was announced at the 10th Annual Hofstra Gala, which honored her many years of service on the Hofstra Board of Trustees.