The momentum continues to build at Stevens Institute of Technology as the university community achieves a major milestone in alumni support.
A tremendous response from alumni led to a victorious closure to the Chairman’s Challenge two months ahead of the deadline.
To foster increased alumni support of the university, Lawrence T. Babbio ’66, chairman emeritus of the Stevens Board of Trustees, pledged a $1 million matching gift opportunity that would provide a 1:1 match for alumni who had not ever made a gift to the university and those who had not supported Stevens in a number of years. There also were special bonus matching periods for Stevens’ G.O.L.D. alumni (graduates of the last decade), which enabled recent grads to leverage their gift 2:1 for their favorite program or scholarship.
When he issued the Chairman’s Challenge, Mr. Babbio established a 3-year timetable for his extraordinary gift. Reaching the goals early is an accomplishment hailed by Babbio as an important first step towards greater alumni participation and cultivating a culture of investing in Stevens’ future.
“My goal in establishing the Chairman’s Challenge was to help catalyze this idea of investing in Stevens each and every year. As alumni, the act and habit of giving back, no matter the size of the donation, is critical to the strength and vitality of this great institution,” says Babbio.
Vice President of Development Brodie Remington credits Babbio as the driving force behind this stellar achievement.
“His visionary challenge was a key factor in our progress of growing our alumni participation. It also helped motivate a new generation of alumni donors to realize the impact their support can have on Stevens,” Remington explains.
Through his dedication and unwavering support of his alma mater, Remington says Babbio sets a remarkable example for other alumni to follow.
“It is not every day that a university is able to thank a donor for a gift that inspired countless others to do so, too. We are very appreciative of the leadership and commitment of Mr. Lawrence Babbio.”
Greater alumni participation, according to Babbio, speaks to the measure of alumni satisfaction for the education they received and of their support for the direction in which the school is headed.
“It is my hope that alumni will build on this momentum and continue to improve alumni participation at Stevens.”