Gifts Totaling $100 Million Go To George Mason University, Rowan University, And Taylor University

This past week saw three universities announce private gifts totaling $100 million. George Mason University received a record gift of $50 million. Rowan University announced a $30 million donation for its new veterinary school, and Taylor University received an anonymous, historic donation of $20 million.

George Mason University announced a $50 million planned gift from the Donald G. Costello Trust. In recognition of the donation, the largest school naming gift in George Mason’s 51-year history, the university will name its business school the Donald G. Costello School of Business. The planned gift will fund an endowment that will provide scholarships for undergraduate and graduate School of Business students.

Calling it “fitting” that the gift was announced at the launch of the Mason Now: Power the Possible campaign, George Mason’s $ 1 billion fundraising campaign, university President Gregory Washington said, “as the most innovative university in Virginia, Mason leads the way in creating new academic programs to meet the evolving needs of the 21st-century economy. Mr. Costello’s success is a testament to his hard work, tenacity, and steadfastness—the same qualities we seek to instill in our students.”

Born in 1942, in Leesburg, Virginia, Don Costello co-founded the Century Stair Company, which became the largest stair manufacturer on the East Coast. He died on July 21, 2017.

School of Business Dean Ajay Vinzé said of the gift, “We are deeply grateful to Joseph Contrucci, Trustee of the Donald G. Costello Trust, and Mr. Costello’s daughter, Sara Costello, for their confidence in our ability to extend the legacy of a forward-thinking entrepreneur whose creativity, hard work, and determination changed the lives of people around him.”

Rowan University announced a $30 million gift for its new veterinary school from business leader and entrepreneur Gerald B. Shreiber. The university will name the vet school the Shreiber School of Veterinary Medicine at Rowan University in recognition of the gift, the third largest in the university’s history. It will be the first veterinary school in the state of New Jersey, with the inaugural class of 60-70 students anticipated to begin their studies in 2025, pending accreditation approval. The Shreiber gift will be used to support student scholarships.

A long-time supporter of the university, Gerald Shreiber, Chairman of J&J Snack Foods Corp, had previously pledged $3 million in 2019 to establish the Shreiber Family Pet Therapy Program at Rowan. “Animals help all of us live richer, fuller, more active lives,” he said of his latest gift. “I’m delighted and honored to help make a difference in veterinary medical education.”

“Gerry Shreiber’s generosity has literally changed the lives of students at Rowan University. His confidence in us over the years is both humbling and inspirational,” said Rowan University President Ali A. Houshmand, in the university’s announcement of the gift, which was also attended by New Jersey Governor Phil Murphy. The state of New Jersey has provided $75 million toward the cost of constructing the new veterinary college facilities.

Taylor University, a nondenominational Christian institution in Upland, Indiana, announced receiving a $20 million gift from an anonymous donor. It’s the largest gift in Taylor’s history.

“This is truly a hinge moment in the life of Taylor University,” said Taylor President D. Michael Lindsay. “At a time when we’re preparing to welcome the largest incoming class in our 177-year history, this gift will allow us to extend our reach to even more students and families who want to attend Taylor.”

The university will use the gift to establish a scholarship matching program, with the aim of ultimately doubling the $20 million to $40 million in total scholarship support. The university is naming the program the 10:10 Scholarship Challenge, alluding to the New Testament scripture in John 10:10 where Jesus says, “I am come that they might have life, and that they might have it more abundantly.”