Santa Clara University has announced that Lorry I. Lokey, founder and president of San Francisco-based Business Wire, has pledged $20 million to help fund scholarships and transform the 150-year old institution's library into a technology-infused learning center.
Lokey, 74, a Stanford graduate and member of the SCU board of trustees, made his gift in recognition of the potential of education to improve lives and create stronger societies. "Nearly everyone is born with a perfectly good brain," he said, "and the more Santa Claras there are, the better our world is bound to become. There's no reason Santa Clara cannot become another Stanford or Harvard in the excellence of its product: the students."
His gift — the largest single gift in the university's history — will provide $5 million to endow scholarships and $15 million to help build a new campus learning center that combines the physical resources and professional support of a traditional university library with wide access to new technologies for its students and faculty. No date has been set for its construction.
"We aim to create a world-class resource where our faculty and students can gather information from around the world in unprecedented volume. Santa Clara must be part of this new wave of accessibility," said SCU president Paul Locatelli. "Lorry Lokey's lead gift moves us far along that path, and will inspire other donations."
In recent years, Lokey has given more than $85 million to such institutions as Stanford, Bellarmine College Preparatory School, Mills College, and the Leo Baeck School in Haifa, Israel. Other recipients of his philanthropy include the Peninsula Jewish Community Center, the Israel Philharmonic Orchestra, and the Environmental Defense Fund.