Manhattan College Receives $25 Million for Business School

Manhattan College Receives $25 Million for Business School

Manhattan College has announced a $25 million gift from alumnus and former board chair Thomas D. O'Malley and his wife, Mary Alice, to boost student scholarships and grants, support innovative teaching and research, and enhance and diversify learning opportunities within its School of Business.

The largest gift in the college's history will enable it to make a business school education accessible to students from all backgrounds while strengthening the school's connections with the New York City business world through hands-on, experiential opportunities. The gift also will support teaching and research focused on the present and future economics of energy. In recognition of the gift, the school will be named the O'Malley School of Business.

After serving in the Army reserves, O'Malley graduated from Manhattan College in 1963 and joined the commodity trading company Philipp Brothers, where he eventually was named president of the firm's energy division. In 1984, he was named vice chair of Salomon Brothers, which later became the parent of Philipp Brothers. His career also included executive leadership positions at oil companies Tosco, Phillips Petroleum, Premcor, Valero Corporation, and PBF.

The O'Malleys are the most generous donors in the college's history and provided the lead gift for construction of the O'Malley Library on campus as well as $10 million in support of the Raymond W. Kelly '63 Student Commons, named after O'Malley's classmate, former New York City police commissioner Ray Kelly.

"The O'Malley gift takes our School of Business to a whole new level," said Manhattan College president Brennan O'Donnell. "It allows us to expand and deepen our curriculum and research, encourage innovative pedagogy, and strengthen our support for experiential learning. We are extremely grateful to Tom, Mary Alice, and their family for their steadfast generosity in supporting students, faculty, and programs."