Johns Hopkins receives $50 million donation

Gift designated for creation of business, education schools

December 05, 2006|By Nicole Fuller | Nicole Fuller,sun reporter

The Johns Hopkins University has received a $50 million gift that will establish separate business and education schools, university officials announced late yesterday.

William Polk Carey, a trustee emeritus at Hopkins, is donating the money through his W.P. Carey Foundation. The gift is the largest to Hopkins in support of business education, the university said in a statement.

The Carey Business School and the School of Education will begin operating Jan. 1, replacing the university's School of Professional Studies in Business and Education. The business school will be launched with a $100 million funding plan, with the additional money to be raised from other donors, university officials said.

"More than a century ago, Johns Hopkins University forever broke the mold in American medical and graduate education, establishing revolutionary new approaches that remain central even today to the preparation of physicians and scholars," William R. Brody, president of Hopkins, said in a statement. "Bill Carey's generosity makes it possible for Johns Hopkins to break the mold again, this time in the education of our nation's leaders in finance, industry and entrepreneurship."

The university is launching a national search for a dean to head the business school, Brody said. Ralph Fessler, a Johns Hopkins faculty member since 1983 who has served as dean of the existing school of business and education since 2000, will head the School of Education, university officials said.

Under his leadership, Brody said in the Hopkins announcement, the School of Education will bring research-based approaches to the top-priority needs of the nation's public schools, ranging from teacher training to ensuring a safe environment.

The Carey Business School will concentrate on teaching students specialized business skills and providing cross-disciplinary knowledge from other Hopkins programs, the announcement said.

"The key to future economic growth is quality business education, and this school will be dedicated to producing our country's next generation of business leaders," Carey said.

The gift, one of the largest in Hopkins' history, is Carey's second $50 million donation in support of business education. In 2003, the foundation's donation to Arizona State University established the school's W.P. Carey School of Business.

The Hopkins business school will be named after William Carey's great-great-great-grandfather, James Carey, an 18th- and 19th-century Baltimore shipper, banker, member of Baltimore's first City Council and a relative of university founder Johns Hopkins.

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.