Stevens Institute of Technology Receives $10 Million Gift from Gianforte Family Foundation to Build New Academic Complex

Record-setting donation to provide necessary space for strategic growth

9/14/2012

Hoboken, N.J. – Stevens Institute of Technology has announced the receipt of a record-setting $10 million gift from alumnus Greg Gianforte ’83.

The gift, through the Gianforte Family Foundation, is the largest single gift from a living donor in university history. It is intended to fund an academic building that will enable interdisciplinary research and provide necessary space for strategic growth. Earlier today, President Nariman Farvardin announced the gift to the Stevens community as part of his presentation on the University’s ten-year strategic plan, which calls for an increase in the size and academic profile of the student body, increases in research, and a $400 million investment over the next decade.

“Mr. Gianforte is a force of positive and transformational change at Stevens,” said Farvardin. “This gift is a dramatic illustration of a future that is very bright for Stevens.”

Gianforte earned his B.E. in Electrical Engineering and M.S. in Computer Science from Stevens and has been an entrepreneur and innovator in the computer networking and software industries and customer experience market. In 2011, he sold RightNow Technologies – the cloud-based customer service and support solutions company he founded and led – to Oracle for more than $1 billion.

Gianforte gave the keynote address at the university’s 2012 Commencement ceremony and accepted an honorary Doctor of Engineering degree.

“My father and I both graduated from Stevens. We believe that Stevens is and has been a national treasure at the forefront of modern engineering throughout its 142 year history,” Gianforte said. “Stevens provided me with a strong work ethic, a real-world focus and a code of honor which have been invaluable in my career and life. With this gift, my wife Susan and I are thrilled to directly impact generations of students to come.”

In June 2012, Stevens completed one of its most successful fundraising years to date, raising $13.8 million in its inaugural year of The President's Initiative for Excellence, a three-year, $30 million dollar initiative to increase support for faculty excellence and student scholarships, to improve physical infrastructure and to establish the President’s Distinguished Lecture Series. Members of the Stevens community believe the unprecedented support from the Gianfortes and several other Stevens alumni and friends is testament to the bold and ambitious vision Farvardin has set forth for Stevens. 

“We appreciate the Gianfortes’ commitment to have an extremely positive impact on the future of Stevens,” said fellow alumnus Edward Eichhorn ’69, Stevens vice president of development. “This gift is the foundation for a dynamic new educational and research facility on our campus. Their generous investment of financial support is invaluable to creating a sense of excitement, building momentum and strengthening the university.”

“At Stevens we have a remarkable and generous alumni body and Mr. Gianforte is an exceptional example of one of them. They represent both the foundation and the future of Stevens," said Board of Trustees Chairman Lawrence T. Babbio. “Their investments, both financially and intellectually, will help Stevens emerge as an influential leader in technological education and research."

“Philanthropy of this magnitude goes great lengths to enabling Stevens to achieve the next level of influence, effectiveness and excellence,” added Farvardin.

About Stevens Institute of Technology

Founded in 1870, Stevens Institute of Technology, The Innovation University™, lives at the intersection of industry, academics and research.  The University's students, faculty and partners leverage their collective real-world experience and culture of innovation, research and entrepreneurship to confront global challenges in engineering, science, systems and technology management.

Based in Hoboken, N.J. and with a location in Washington, D.C., Stevens offers baccalaureate, master’s, certificates and doctoral degrees in engineering, the sciences and management, in addition to baccalaureate degrees in business and liberal arts.  Stevens has been recognized by both the US Department of Defense and the Department of Homeland Security as a National Center of Excellence in the areas of systems engineering and port security research. The University has a total enrollment of more than 2,400 undergraduate and 3,700 graduate students with more than 450 faculty. Stevens’ graduate programs have attracted international participation from China, India, Southeast Asia, Europe and Latin America as well as strategic partnerships with industry leaders, governments and other universities around the world.  Additional information may be obtained at www.stevens.edu and www.stevens.edu/news.