Marist College Receives $75 Million Bequest
Marist College Receives $75 Million Bequest
Marist College in Poughkeepsie, New York, has announced a bequest valued at $75 million from the late Raymond A. Rich to develop and house a program to provide leadership training for people working in the business, government, and nonprofit sectors.
Rich, who served as an executive in a number of industries, including oil and gas exploration, publishing, and banking, left Marist his sixty-acre riverfront estate in Esopus, New York, including the historically and architecturally significant Payne Mansion. Valued at $65 million, the 42,000-square-foot mansion was designed by Carrère and Hastings, architects of the New York Public Library and the Frick Museum.
In addition, Rich designated approximately $10 million for an endowment to support the Raymond A. Rich Institute for Leadership Development, which will be housed at the Esopus estate. Through guest speakers, conferences, and workshops, the institute will focus on developing the communication, interpersonal, and social skills individuals need to effectively lead complex organizations in a global setting.
"The Raymond A. Rich Institute is in keeping with Marist's three overriding ideals: excellence in education, dedication to service, and fostering a sense of community," said Marist chairman Robert R. Dyson. "The Marist board of trustees enthusiastically accepts Mr. Rich's very generous gift with the board's and college community's gratitude to him for his gift and for the leadership he provided throughout his life."
“Largest Gift in Marist History Establishes Leadership Institute.”
Marist College Press Release
9/23/09.
Primary Subject: Education
Secondary Subject(s): Higher Education
Location(s): New York, Poughkeepsie
FC013938
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