Cornell University in Ithaca, New York, has announced a $150 million gift from alumnus H. Fisk Johnson and SC Johnson & Son, the global household goods manufacturer, to its College of Business. H. Fisk Johnson, a Cornell trustee emeritus, is the company's CEO.
Two-thirds of the gift, some $100 million, will be used to establish a permanent endowment in support of faculty recruitment and retention at the business school's campuses in Ithaca and New York City; increase the college's attractiveness to top students through expanded scholarship resources; and develop and expand programs in and outside of Ithaca, including the SC Johnson Scholars program, which will create academic and experiential opportunities aimed at enhancing general coursework through access to SC Johnson-sponsored immersion programs, domestic and international internships, and shadowing opportunities. The funds also will enable new interdisciplinary research initiatives in areas that leverage and enhance the school’s and Cornell's research strengths, with a focus on sustainability and technology.
The remaining $50 million will be used to leverage philanthropic support from other donors on a one-to-three basis, with the goal of raising an additional $150 million for the endowment. The challenge will have a special focus on faculty and student support and on promoting innovative programs.
In recognition of largest single gift in support of Cornell's Ithaca campus, the university will rename the business school, which comprises the Charles H. Dyson School of Applied Economics and Management, the School of Hotel Administration and the Samuel Curtis Johnson Graduate School of Management, the Cornell SC Johnson College of Business.
"This extraordinary gift will further that goal by creating more diverse and rigorous learning and research opportunities for both faculty and students across the college's three accredited business programs," said Cornell business school dean Soumitra Dutta. "It also will help enhance the unique characteristics and strengths of each and support our mission to realize the full potential of Cornell’s business programs."