Posted on Apr 19, 2004

Gifts, Grants and Bequests

Two unusual gifts have been received from alumni, one to create an endowed prize for senior projects in computer science and electrical engineering, and the second to establish a center to study entrepreneurship. Here are the stories behind the gifts:

Employed by Hewlett-Packard for more than forty years,
Don Loughry '52 retired in 1998 as standards manager of the company's Information Networks Group. Active in research and development, engineering management, test and measurement, and computer systems, he had a natural interest in the same areas at Union. “It is important to encourage students to build a relationship with industry, even before graduation, if possible, to help build professional careers grounded in relevancy and productivity,” Loughry says.

Acting on that belief-and with the support of Hewlett-Packard, which assists employees in the donation of HP products to educational institutions-Don and his wife, Alice, created an annual prize fund for students who had completed the best senior projects in computer science, computer systems engineering, and electrical engineering.

When Don retired, HP's support ended-but the students' needs and goals remained. “Setting up an endowment fund seemed like the right answer,” Don says. To establish an endowed fund that would produce enough income annually for the prize award, which totaled about $2,000, would require at least $40,000. In 2002, at Don's 50th ReUnion, they made an initial gift of $10,000.

Then, in 2003, Loughry received the Charles Proteus Steinmetz Award from the Institute of Electrical and Electronics Engineers (IEEE). The award, one of the association's highest honors, cited his outstanding leadership and contributions in the development of computer interface standards and to the creation of the IEEE Standards Association. In addition to a medal, the award included a $10,000 honorarium-which Loughry promptly turned over to the College toward the endowment goal. “When the unexpected IEEE honorarium came my way, it was a natural step to add it to our endowed prize fund,” Don says.

“Meeting a few of the prize winners and having e-mail interchanges with them leaves no doubt in my mind that we are taking the right steps toward our long-term goals in a relevant way for emerging professionals from the College,” he says.

After graduating from Union, Michael Rapaport '59 earned a J.D. and an M.B.A. from Columbia, both in 1964.

Mike began his legal career as a solo practitioner in White Plains, N.Y., but was soon recruited to handle a special project for Rapaport Brothers, P.C., the general practice law firm founded in 1928 by his father and uncle. One project led to another; in addition, the economic downturn of the late 1960s demanded major changes for M. Rapaport Co., Inc., the real estate investors group that had been established in 1904 by his grandfather, Meyer Rapaport. Mike was recruited to manage that company as well.

For the next thirty years, Mike guided the law firm, specializing in trust and estates, elder law and real estate finance, as well as the separately-operated M. Rapaport Co., Inc. His unique approach to business development resulted in significant growth and success for both family-named entities and contributed to his longstanding interest in entrepreneurship and ethics.

Reflecting that interest, his recent gift has enabled the College to establish the “Center for the Analysis of Productivity and Entrepreneurship.” The initiative will allow the College to introduce the study of ethics into its undergraduate economics program and, Mike hopes, serve as a catalyst for integrating ethics into the curriculum across the board.

The entrepreneurship program will include:

  • A new course, “The Mind of the Entrepreneur,” designed to expose students to the role of the entrepreneur in guiding resource allocation in a market economy. The course will include a component on ethics.
  • A new course, “The Economics of E-Commerce,” which, again, will include ethics as an important component.
  • Revision of a seminar on public policy to include a more rigorous treatment of ethical issues.
  • Revision of the course “The Economics of Health” so that it now includes a combination of ethics and economics.
  • Support for the newly-formed student Entrepreneurship Club to bring in speakers.
  • Support for faculty to attend conferences that involve economics and ethics, and support for a Union-sponsored conference on teaching ethics and economics.
  • Support for an Economics Department seminar series to bring outstanding national speakers to campus.

Professor Hal Fried of the Economics Department says the initiative has far-reaching implications for Union and could serve as a model for other colleges.

Recent gifts to the College include:
  • An unrestricted gift upon the termination of a trust established by John Bovier '10, in memory of Asa P. Bovier, Class of 1872.
  • A distribution from a pooled life income fund established by the late Raymond H. and Jean D. Horstman. The proceeds were used to establish the Raymond H. Horstman (1923) Scholarship Fund.
  • An unrestricted bequest from the estate of Rachel F. Rowe, the widow of Harold N. Rowe '23.
  • A bequest from the estate of Mildred Benson, widow of Harold R. Benson '29.
  • A second charitable gift annuity was established by D. Vincent Cerrito '32, to eventually benefit the Nott Memorial.
  • An unrestricted bequest from the estate of Alexander M. Turner '34.
  • Alan B. Van Wert '37 made an addition to the scholarship in his name.
  • Unrestricted proceeds of charitable gift annuities established by the late H. Milton Chadderdon '33 and the late George P. Haskell '37.
  • Frederick F. Fagal '38 to the Henry Fagal Scholarship.
  • Dr. David Falk '39 made a gift to be added to the David and Elynor Falk scholarship.
  • Jean Fox, the widow of Herbert O. Fox '39, made a gift of seven rare illuminations from approximately the eleventh to the fifteenth centuries. The illuminations originally were displayed in the President's House when Dixon Ryan Fox, Herbert's father, was president of the College. Mrs. Fox felt that the illuminations should once again become a part of Union College. The illuminations will be displayed and will be used in the study of art history.
  • A bequest from the estate of Stanley R. Liebman '39 to establish an endowed scholarship in memory of him and his wife, Jeanne.
  • Beverly Yunich, the widow of Dr. David L. Yunich '39, to establish the Yunich Family Fund.
  • Upon the death of Sherman W. Parry '40, the proceeds of the two charitable gift annuities that he established established the Jonathan Stanley Parry Scholarship in memory of his son.
  • Noble McCartney '41 established a charitable gift annuity, the proceeds of which will ultimately be used to establish the Noble McCartney, Class of 1941, Endowed Scholarship.
  • Paul E. Kummer '43 established a charitable gift annuity.
  • Unrestricted bequests from the estate of Winston A. Saunders '41 and the estate of Arthur E. Pitts, Jr. '43.
  • A charitable gift annuity established by the late Edwin D. Knight '45 was liquidated and the proceeds were sent to Union.
  • Albert K. Hill '46 supported the printing costs associated with the Encyclopedia of Union College History written by Wayne F. Somers '61.
  • Natalie Weinstein, the widow of Abbott S. Weinstein '46, a charitable gift annuity that ultimately will be added to the scholarship in her husband's name.
  • Dr. Wendell L. Bryce '48 established two charitable gift annuities.
  • Dr. William H. Meyer, Jr., '48 established a gift annuity. The ultimate purpose of this gift will be unrestricted and will be in memory of Dr. Meyer's father, William H. Meyer '28.
  • William R. Grant '49 made a gift to establish the William R. Grant '49 Fund.
  • A life insurance policy from Dr. Edward W. Carsky '50 and his wife, Patricia.
  • An unrestricted gift from the estate of Mitchell W. Rabbino '50.
  • Upon the death of Robert C. Sprong '50, a charitable gift annuity that he established was terminated and the proceeds were used to establish the Robert C. Sprong '50 and Anna Sprong Scholarship Fund.
  • Herman W. Nickel '51, Edwin E. Wheeler '51, and Elwyn V. Harp '53 established charitable gift annuities.
  • Paul F. Jacobs '60 established a charitable gift annuity, which will be used to establish the Margaret Veronica and Bertram Lawrence Jacobs Endowed Scholarship in honor of his parents.
  • Charles J. Loew '62 made a gift of his professional services.
  • Stephen J. Ciesinski '70 and his wife, Diane, have made a gift to the Adam F. Ciesinski '41 endowed scholarship in memory of Steve's dad.
  • Cindy Wolfson Sipkin '76 has made a pledge to the Music and Arts Building project.
  • Dr. David J. Becker '79 established a scholarship to commemorate his twenty-fifth ReUnion.
  • On his twentieth reunion, David M. Madden '84 established the Professors Edward Craig and Yu Chang Endowed Merit Scholarship Fund in recognition of two electrical and computer engineering faculty.
  • The Fred L. Emerson Foundation recently awarded Union a challenge grant of $500,000 to renovate and expand the arts and music facility. This grant, the foundation's fourth to the College, requires Union to raise $2.5 million before December 1, 2004. In recognition of the foundation's support, the College will name the recital hall in the renovated facility the Fred L. Emerson Hall.
  • The Northrop Grumman Foundation awarded the College a three-year, $90,000 grant to support the innovative Educating Girls for Engineering (EdGE) Summer Workshop. The workshop is designed to encourage talented high school sophomores and juniors to consider majoring in engineering or computer science in college and becoming practicing engineers or computer scientists.