School of Business Capital Campaign a Resounding Success

UAlbany School of Business alumni met the challenge. The Campaign for UAlbany’s School of Business raised a record $10.4 million, exceeding the target of $9.75 million.

Numbers raisedWhat is most impressive is that the largest and most successful campaign in the school’s history was launched during a devastating economic downturn. Nevertheless, our alumni understand the value of investing in the future of our school.

Even alumni just starting their careers contributed. More than 550 Graduates of the Last Decade, known as GOLD, a program established less than five years ago, made gifts to the campaign.

Students are the true beneficiaries of alumni generosity. More than 30 new scholarships were established to provide critical financial support to students, allowing them to focus on their education, minimize their outside employment obligations, and graduate with a minimum of debt. See Najwa Zarook’s story below.

A State-of-the-Art $64 Million School of Business Building
The school’s spectacular new building features technologically advanced classrooms, ample space for corporate recruiters, breakout rooms for team projects, collaborative research centers in investment management, cyber security and digital forensics and a first-floor trading room that provides students with hands-on learning experiences. Thanks to gifts from alumni and friends, a robust endowment will allow the school to update classroom technology regularly, ensuring that the building remains state-of-the-art and meets evolving educational needs. Named spaces – classrooms, labs, suites, meeting rooms and student lounges – recognize the generosity of 35 donors to this important objective.

Joan D. Rosenthal ’76, Dean’s Advisory Board member  and UAlbany Foundation Board member.
Above, Joan D. Rosenthal ’76, Dean’s Advisory Board member and UAlbany Foundation Board member.
Gifts Inspire Others to Give
Students notice alumni giving. Many of them are inspired to support the school even before they graduate. For example, all members of the Financial Analyst Honors Program’s Class of 2013 made a gift to the campaign. Also, classmates of the late Denis Lukashkov created a scholarship in his memory to support students who perform outstanding equity analysis and financial modeling.

Impact of Gifts: Accomplishments of the School of Business
The UAlbany School of Business is a world class, innovative business school. This fall marked the launch of a new undergraduate degree program in digital forensics – information security applied to all sectors of the economy. This is the first such program in New York State and only the third in the entire country. School of Business Dean Donald Siegel said, “Our donors have made a wise investment in the School of Business and that investment has yielded an outstanding return. This year, we moved into our state-of-the-art $64 million School of Business building, which was recently voted the fourth most attractive business school facility in the world. In the past two years, we were ranked #86 and #87 in the U.S. by U.S. News and World Report. More importantly, we were ranked #1 in the country by U.S. News for the past two years in terms of placement. We were the only business school in the U.S. to place 100 percent of our full-time MBA students for two years in a row. This year, we received the largest gift in the history of the school, a $1.5 million gift from philanthropists J. Spencer and Patricia Standish, for an endowed chair in entrepreneurship. Finally, each of our five academic departments is hiring tenure-track faculty, including multiple hires in accounting and digital forensics.”

School of BusinessUniversity at Albany President Robert J. Jones is enthusiastic about the school’s future. “It is my hope that we will see our ranking rise even further to the top 50 in the coming years,” said Dr. Jones. “The accomplishments of Dean Siegel and the School of Business ensure that the public will see what the university and its alumni have known all along: the school provides a superb education and a terrific foundation for success.”

David Buzen ’81, chair of the Dean’s Advisory Board, has been a key supporter of the campaign from the beginning. The David A. Buzen ’81 and Lynette Buzen ’82 Conference Room in the dean’s suite recognizes the couple’s generous unrestricted giving, which helps the School of Business meet its most pressing priorities at any point in time. Buzen said, “As an alumnus, I am proud of the school’s progress under Dean Siegel’s leadership. The level of accomplishment of the students, faculty and administration is at an all-time high. Alumni are excited by this momentum and are happy to contribute to the school’s success.”

School of Business Donors WallScholarships Allow Students to Focus on Studies and Careers
Najwa Zarook, a dual major in business and accounting, maintains a perfect GPA. She has been active in School of Business clubs since she began her UAlbany career as a freshman in the Direct Admit program, most recently serving as secretary for Albany Business Leaders Emerging and president of the Dean’s Leadership Council. Zarook was accepted into and attended every Big Four leadership program. How does she maintain this high level of success? Hard work and scholarships. She does not hold an outside job during the school year. Zarook said, “It is a big burden off me. Scholarship money goes directly to my tuition. Because of that, I am able to concentrate on my studies, extracurricular activities and my career.” Zarook received the Zelin Family Endowed Scholarship in 2013 and the Elizabeth Drumm Demske ’61, M.S. ’63 and Edward Demske ’58 Scholarship in 2014.

Interested in making a gift or creating a scholarship to benefit a hard-working student like Najwa? Help us to continue to move the school ahead.