A gift that inspires

May 16, 1993

Suddenly last week the University of Baltimore had something in common with Columbia University in New York: Both schools were pledged the largest single gifts in their histories. In late April, Columbia got $60 million from New Yorker John W. Kluge to create scholarships for minorities. UB's commitment last week was $1 million from Baltimorean Peter G. Angelos to endow a scholarship fund for Maryland students at the UB Law School.

No intent here to belittle UB or Mr. Angelos. Quite the contrary. Fortune magazine lists John Kluge, who made a fortune buying and selling radio and television stations, as the second richest man in the world, worth $5.5 billion. Mr. Angelos did not disclose his personal assets, but he has become wealthy -- by Baltimore standards -- representing thousands of asbestos claimants.

But even though there is a difference of scale here, both men were first-generation students at the schools they now endow. Both recognize the direct relationship between their higher education and their success later in life. And both direct their gifts to scholarships. In Mr. Angelos' case, the scholarships will help Maryland students at a time of budget cuts and tuition increases.

In stressful economic times, higher education needs more philanthropy, not only from grateful alumni but from local business and industry that also should be grateful for the contributions made by colleges and universities to their success. Corporate and alumni support has been lagging in recession-plagued Baltimore, which is why a gift like Mr. Angelos' is more inspiring than one 60 times larger from a

billionaire.

5/8

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.