Georgetown Receives Largest Gift in University History

Colleges and Universities A-Z Georgetown University
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<p>Georgetown</a> Receives Largest Gift in University History | The Hoya
Office</a> of Communications | Georgetown University</p>

<p>"Georgetown Receives Largest Gift in University History
Alum Donates $75 Million to Endow Faculty Positions</p>

<p>By Courteney Lario</p>

<p>Dec 10 2008</p>

<p>University officials announced Wednesday that Robert McDevitt (CAS ’40) has given Georgetown approximately $75 million, the largest gift in the university’s history.</p>

<p>McDevitt, who passed away Sept. 22 at 90 years old, owned McDevitt Brothers Funeral Home in Binghamton, NY. According to the university press release, McDevitt and his family were long time investors in IBM and the majority of his gift to the university will be in IBM stock.</p>

<p>McDevitt and his wife, Catherine McDevitt, who passed away six months before her husband, asked that the donation reflect their Catholic faith.</p>

<p>“McDevitt directed that a portion of his estate establish a fund to endow faculty positions at Georgetown, with particular emphasis on some disciplines that reflect his deep Catholic faith, long-standing interest in science and technology, and commitment to Georgetown University,” the press release states. “The McDevitt gift will support faculty compensation and the research, technology, and staffing infrastructure necessary to create and support academic work of national and international distinction.”</p>

<p>University President John J. DeGioia expressed his deepest thanks to the McDevitt family for this gift in the press release.</p>

<p>“I am deeply grateful to the McDevitt family for their recognition of the important teaching, research and scholarship conducted by our faculty,” DeGioia said. “I am particularly moved that this gift supports areas of personal meaning to them that are so critical to our ongoing efforts to enhance our academic quality and Catholic and Jesuit mission."</p>

<p>University spokesperson Julie Bataille said this donation is especially welcome during a time of economic hardship.</p>

<p>"Especially given the current economic environment, the generosity of this gift is a welcome recognition of the ongoing need to support and sustain academic excellence," she said.</p>

<p>Bataille said the university has begun internal planning to determine how to specifically allocate the funds "consistent with the donor's intent and Georgetown's academic priorities."</p>

<p>The largest donation to the university, prior to McDevitt’s, was $30 million, given by Robert McDonough (SFS ’47) in 1998"</p>

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<p>Damn, if they named the business school after McDonough for 30 mil, I wonder how many buildings this guy will name!</p>

<p>But seriously, that is a very generous gift. I hope it will be put to good use</p>

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<p>The new science center will probably be named after Mr. McDevitt.</p>

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<p>Wow how generous of Mr. McDevitt. Do you think any portion of the money will benefit us students? like financial aid wise</p>

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<p>^ Yeah, I hope it goes to grants.</p>

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<p>heh.</p>

<p>Courtney Lario went to my school. She's the person who got me interested in Georgetown in the first place.</p>

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<p>well u have to adjust mcdonogh's 30 mill for inflation</p>