$100 Million Donation to University of Michigan Business School - ChaseDream

New York City real estate developer Stephen M. Ross, BBA ’62, has provided a gift of $100 million to the University of Michigan Business School. It is the largest donation ever to a U.S. business school and the largest gift to the University in its 187-year history. In recognition of the power of the gift to elevate the school’s aspirations and realize its ambitious vision, the Board of Regents met in special session on September 9, 2004, to rename the school the Stephen M. Ross School of Business.

Ross, who earned his degree in accounting from the Michigan Business School, is founder, chairman and chief executive officer of The Related Companies, L.P., developer of the $1.7 billion, 2.8 million-square-foot Time Warner Center on Columbus Circle in New York City. The company’s real estate portfolio, valued in excess of $8 billion, makes it one of the most prominent real estate developers in the country. The Related Companies is also the largest shareholder in CharterMac, the country’s largest financier of affordable housing in the United States, with approximately 250,000 units in 44 states.

“The days I spent at the University laid the foundation for my career, and made it possible for me to build the kind of business that The Related Companies has become,” Ross says. “The quality of the University of Michigan’s people and education has always made me proud to be part of this institution. I’ve had a terrific, continuing relationship with the University, not the least of which has been my affiliation with my fellow alumni, Jorge Perez (MUP ’76), Jeff Blau (BBA ’90) and Michael Brenner (MBA ’68), three outstanding partners of our top management team.”

University of Michigan President Mary Sue Coleman hailed the gift and its impact on The Michigan Difference, the University’s $2.5 billion fundraising campaign, of which Ross is a co-chair.

“Stephen Ross displays the depth of his long-time commitment to the University with this extraordinary gift, the largest in the University’s history,” Coleman says. “His breathtaking generosity places him in the tradition of the great philanthropists of the University of Michigan, such as Horace and Mary Rackham and William W. Cook, whose gifts have endured to change the lives of generations of students and faculty.”niversity of Michigan President Mary Sue Coleman hailed the gift and its impact on The Michigan Difference, the University’s $2.5 billion fundraising campaign, of which Ross is a co-chair.

How will the school use this huge amount money? any direct benifits to the MBA students?

New York City real estate developer Stephen M. Ross, BBA '62, has provided a gift of $100 million to the University of Michigan Business School. It is the largest donation ever to a U.S. business school and the largest gift to U-M in its 187-year history. In recognition of the power of the gift to elevate the school's aspirations and realize its ambitious vision, the U-M Board of Regents met in a special session Thursday to rename the school the Stephen M. Ross School of Business.

"The extraordinary generosity of Stephen Ross will make it possible for us to build our future as the top business school in the nation," said Robert Dolan, dean of the business school. "Our vision is to be the best at educating leaders for the world of business by giving them an experience that

combines rigorous intellectual preparation with results-oriented practice."

"Our distinctive program is limited only by facilities that simply do not do justice to Michigan's team-based, collaborative educational approach. State-of-the-art facilities will make a critical difference in our ability to recruit faculty and students in a highly
competitive arena. Stephen Ross' gift will enable us to create an even more exciting learning environment, accommodate future growth, and provide an integrated look and feel to our facilities."

"As part of our planning, we will create more formal and informal group study space, especially the types of areas that foster team-based activity, along with gathering spaces for faculty and student interaction. The gift also will significantly expand our endowment, with funds to be used for innovative, interdisciplinary programs that further distinguish the school as a leader in business education," Dolan said. Intensive planning for the academic
program and facilities needs is underway, Dolan said, and the school hopes to bring a specific project proposal to the U-M Board of Regents for approval later this year.

Ross, who earned his degree in accounting from the U-M Business School, is founder, chairman and chief executive officer of The Related Companies, L.P., developer of the $1.7 billion, 2.8 million-square-foot Time Warner Center on Columbus Circle in New York City. The company's real estate portfolio, valued in excess of $8 billion, makes it one of the
most prominent real estate developers in the country. The Related Companies is also the largest shareholder in CharterMac, the country's largest financier of affordable housing in
the United States, with approximately 250,000 units in 44 states.

Click here for the full article and more information on The Michigan Difference.

Great job! I thought I should come here to post the news, but a little bit late. Hehe...

WSJ just came to school to camera us in the class, quite funny experience. Looking forward to the coming WSJ ranking next week; especially after the generous donation.

以下是引用飞雪在2004-9-16 12:53:00的发言：

Seems no one interest in the “Stephan M. Ross" business school

I'm here quite intereseted in U-M. no matter what its name is, UMBS would be known for its high-level business education.

(只是这个名字听起来有点儿怪怪的感觉。一下子就改了。来不及准备啊)

呵呵，我对奖学金也很感兴趣，但是学校没谈到这方面的改进问题。只是听说会花比较大的精力去挖一些好的教授过来。

以下是引用飞雪在2004-9-16 21:52:00的发言：

呵呵，我对奖学金也很感兴趣，但是学校没谈到这方面的改进问题。只是听说会花比较大的精力去挖一些好的教授过来。

CMU received a $50 million donation earlier this year and as far as I know, don't expect the B-school will use great amount of the fund as scholarship to MBA students.

Most probably, the school will invest in its educational facilities and marketing efforts.

There is one thing I know: Columbia last year offered application fee waiver solely for Chinese students and boasted a special funding program for Chinese students who are admitted. Only such commitment can assure possibilities of scholarship.

以下是引用木木和木木在2004-9-16 22:00:00的发言：

呜呜，看来不要涨学费就好。

小小的问：入学了后还可以再申请奖学金？为了第二年？

以下是引用飞雪在2004-9-17 4:09:00的发言：

第二年的奖学金是看成绩的，根据过来人说，要想拿到那为数不多的奖学金绝对不是件容易的事情。我到了这里才真正理解啊，是啊，听起来一学期（7个星期）只有4门或5门课，但是真是忙死啊，因为一个是语言上还是有一定障碍，另外还有很多乱七八糟的事情占掉你不少本来准备用来学习的时间。

能多吸引一些眼球来关注Michigan，值了，呵呵。Just kidding啦，CD是我离不开的地方，再忙也要过来看看的。

等有一天我中lotto...!!! 我也捐.. hehehe bye the way... who is in University of Michigan?

以下是引用baobaobear在2004-9-10 14:05:00的发言：

Hi Jiafeng,

How will the school use this huge amount money? any direct benifits to the MBA students?

The latest rumor says the money will go to upgrading of B-school's facilities, new buildings, new equipment.

Baobaobear, when you come here next year, the school's will Ross School of Business (actually, with effect as of January 1, 2005).

ChaseDream

New York City Real Estate Developer

Stephen M. Ross Gives $100 Million to

University of Michigan Business School