Stevens Institute of Technology Receives Historic $21 Million Investment from A. James & Alice B. Clark Foundation
Largest donation in university history will support Clark Scholars Program and name University Center Complex tower
Hoboken, N.J., September 9, 2025 — Stevens Institute of Technology today announced it has received a transformative $21 million commitment from the A. James & Alice B. Clark Foundation – the largest investment in the university's 155-year history. This extraordinary support will enhance the Clark Scholars Program, launch the Clark Scholars Philanthropy Challenge Endowed Fund, and include a capital naming opportunity for a tower in the University Center Complex. The investment represents the culmination of a longstanding partnership between Stevens and the Clark Foundation, which has already produced remarkable results through the Clark Scholars Program. Graduates from the program have secured positions at leading companies including Lockheed Martin, Bank of America and Procter & Gamble, while others have earned fully funded Ph.D. fellowships at top institutions and consistently graduated with highest honors.
"This extraordinary contribution represents far more than financial support — it embodies the enduring legacy of a man who was my mentor and dear friend," said Stevens President Nariman Farvardin. "The Clark Scholars Program produces graduates who exemplify Jim Clark's values: integrity, hard work, commitment to excellence and dedication to humanitarianism. I am profoundly honored to have been part of this transformational relationship, and I'm confident that decades from now, some of these Clark Scholars will return to Stevens to do for future generations what Jim Clark has done for ours."
The Clark Scholars Program identifies and supports students who demonstrate exceptional leadership skills, integrity, business acumen, engineering prowess and dedication to humanitarian service – qualities that exemplified the late A. James Clark, the foundation's namesake. Clark, a successful business leader and philanthropist, believed that business success begins with engineering excellence.
The naming component of the investment will designate a tower within Stevens' University Center Complex, a space that houses nearly 1,000 students and serves as a gathering place for the entire campus community. The A. James Clark Residential Tower will stand as a permanent symbol of the Clark Foundation's impact on Stevens and its role in the university's continued ascent to new levels of achievement and prominence.
The partnership between Stevens and the Clark Foundation began during President Farvardin's previous tenure as dean of the A. James Clark School of Engineering at the University of Maryland, where he first met Jim Clark and was inspired by his philosophy of creating concrete connections between effort and opportunity.
“This historic investment reflects our deep confidence in Stevens and its commitment to cultivating the next generation of engineering leaders,” said the Clark Foundation Board Chair, Courtney Clark Pastrick. “We are proud to partner with an institution that so powerfully embodies the values of my father, A. James Clark and to ensure his legacy continues to shape lives for decades to come.”
“Having served on the Stevens Board of Trustees, I know how deeply committed this institution is to academic excellence and developing students as leaders. This investment builds on that foundation, opening doors for future generations of Clark Scholars to thrive not only as engineers but also as leaders dedicated to strengthening their communities,” said Joe Del Guercio, president and CEO of the Clark Foundation.
The A. James & Alice B. Clark Foundation is preparing to sunset in December 2025, making this support part of the foundation's final chapter of transformational giving. The Clark Foundation's investment ensures that Jim Clark's vision of engineers who make their mark on the world through both technical excellence and service to humanity will continue for generations to come.
About Stevens Institute of Technology
Stevens is a premier, private research university situated in Hoboken, New Jersey. Since our founding in 1870, technological innovation has been the hallmark of Stevens’ education and research. Within the university’s three schools and one college, more than 8,000 undergraduate and graduate students collaborate closely with faculty in an interdisciplinary, student-centric, entrepreneurial environment. Academic and research programs spanning business, computing, engineering, the arts and other disciplines actively advance the frontiers of science and leverage technology to confront our most pressing global challenges. The university continues to be consistently ranked among the nation’s leaders in career services, post-graduation salaries of alumni and return on tuition investment.
About The A. James & Alice B. Clark Foundation
The A. James & Alice B. Clark Foundation partners with organizations to strengthen their ability to meet the needs of the individuals, families, and communities they serve. In keeping with Mr. Clark’s desire to spend down within a decade and maximize the impact of this funding, the Clark Foundation established its current philanthropic model in 2016. The Foundation focuses its philanthropy in three strategic areas: educating future engineering leaders, improving the lives of veterans and their families, and providing members of the DC community the best opportunity to thrive.
To learn more, visit: clarkfoundationdc.org.
Stevens Media Contact
Kara Panzer
Director of Public and Media Relations
Division of University Advancement
845-475-4594
[email protected]
