The largest gift in Calvert's history will establish an endowment for the Lower School in support of programs, the recruitment and retention of faculty, and critical infrastructure upgrades. In recognition of the gift, the school will rename its Lower School facility the W.P. Carey Lower School Building.
William P. Carey, who died in January 2012, founded the commercial real estate company W.P. Carey & Co. in 1973 and established the Carey Foundation in 1990. His longtime support of Calvert includes a $3 million endowment gift in 2003 that helped create its Middle School, which is named in honor of Carey's brother, Francis J. Carey.
"Bill Carey's extraordinary philanthropy will ensure that the educational tenets of Calvert will remain," said Calvert School headmaster Andrew Holmgren. "This gift honors the Calvert education that Bill received years ago and furthers our deep tradition of focusing on academic excellence, embracing educational innovation, building strong character, and fostering intellectual curiosity."