Penn State Receives $5 Million for Scholarships, Renovations

Penn State Receives $5 Million for Scholarships, Renovations

Pennsylvania State University has announced a $5 million gift from board chair and alumnus Ira Lubert ('73) in support of scholarships and renovations to campus facilities.

The commitment includes more than $3 million for endowed scholarships, including $2.4 million for the Millennium Scholars program, which supports high-achieving STEM (science, technology, engineering, and math) students; $500,000 for the Open Doors Scholarship program at Penn State Abington; and support for the Rod Kirsch Renaissance Scholarship and a new scholarship in the College of Health and Human Development. The gift also will provide $1.75 million in support of renovations to the Mildred and Louis Lasch Football Building and $100,000 for the Lion's Pantry, which was established to address the issue of food insecurity among Penn State students.

A Penn State graduate in food service and housing administration, Lubert has co-founded a number of private equity and real estate funds and is co-founder and chair of Independence Capital Partners and Lubert-Adler Partners. A Penn State board member since 1997, he previously had provided support for Penn State wrestling, the All-Sports Museum, the College of Health and Human Development, Penn State Great Valley, the Football Excellence Fund, the Office of Undergraduate Education, the Renaissance Scholarship Funds, the Penn State Health Milton S. Hershey Medical Center, University Libraries, and the renovation of Rec Hall.

"Having served on the board of trustees for many years and now as chair, I am aware of the vast potential of Penn State's students, faculty, and programs, and I know how philanthropy can fuel their achievements," said Lubert. "I'm fortunate that, in part because of my Penn State education, I can give back and help support the future of my alma mater and its graduates."

"Penn State Board of Trustees Chair Commits $5 Million for University-Wide Impact." Pennsylvania State University Press Release 06/05/2017.