Posted on September 13, 2018
New York, NY — The Starr Foundation has made a $15 million to St. John’s University to establish the Maurice R. Greenberg Leadership Initiative at the School of Risk Management, Insurance and Actuarial Science, part of The Peter J. Tobin College of Business. Below is the press release distributed by the University:
It is with great pleasure that I share the news that the University has received the largest single gift in our 148-year-old history. The historic $15 million gift from The Starr Foundation will establish the Maurice R. Greenberg Leadership Initiative at the School of Risk Management, Insurance and Actuarial Science (SRM) — part of The Peter J. Tobin College of Business.
We are deeply grateful to Mr. Greenberg for his generosity. As the Chairman of The Starr Foundation—one of the largest private foundations in the United States—Mr. Greenberg oversees the disbursements of major financial support to institutions worldwide, in the areas of education, medical research and healthcare, human needs, culture and public policy.
Mr. Greenberg recently noted how important it is to recruit highly intelligent people who are devoted to careers in the insurance profession. Over his long and distinguished career in the insurance industry, he has found that these types of individuals consistently come from SRM. With this gift, SRM is poised to build on its more than century-old mission of educating future business leaders, who like Mr. Greenberg, will shape the insurance industry for generations to come.
The Maurice R. Greenberg Leadership Initiative consists of three strategic funds that will help expand academic programs and enrollment, enhance teaching and learning activities, and work to attract the best and brightest students from around the globe to pursue academic studies and careers in the insurance industry. The funds include: The Maurice R. Greenberg Scholarship Fund, which will provide full and partial scholarships to SRM students; The Starr Foundation SRM Faculty Support Endowment, which will support professional development, new resources, and enrichment activities for faculty; and the Maurice R. Greenberg SRM Industry Leadership Endowment, which has been created to support new programs and resources for SRM industry outreach activities.
Fifty percent of the total endowment fund will be used for student scholarship awards; 33 percent will go towards faculty support; and 17 percent will be allocated for the leadership endowment.
I would also like to recognize the efforts of Brandon W. Sweitzer, Dean of SRM, who was instrumental in securing the funds which has led to the creation of the Maurice R. Greenberg Leadership Initiative, and Chris Vaupel, Vice President for Advancement and University Relations for his leadership in bringing the gift agreement to fruition.
We are very fortunate to have the continued support of those who make giving back to St. John’s a priority. The philanthropic support is evidenced by another historic first as St. John’s raised $27 million in 2017–18, a record amount of cash raised in a single fiscal year. Generous gifts to St. John’s came from 11,418 donors—including alumni, parents, friends, faculty, and staff.
This is an exciting time for St. John’s. I am confident that together we will continue to make a difference in the lives of our students and the University community for years to come.