$6.5 Million Gift Establishes New Leadership and Innovation Prize at UPenn’s Wharton School
And the giving continues. Yesterday we shared the news of a $10 million gift to Columbia. Today, it’s a $6.5 million gift to the Wharton School at the University of Pennsylvania. The gift, from alumnus Barry R. Lipman (’70), will establish a new annual $100,000 prize, to be awarded to an organization devoted to finding sustainable solutions to social and economic challenges.
Called the Lipman Family Prize, the new award is designed to help propel the winning organization’s achievements by providing financial rewards, media outreach and scholarly attention. In addition to the $100,000 prize, the winning organization each year will have the opportunity to collaborate with Wharton and the University of Pennsylvania, including through partnerships with faculty researchers, internships with graduate students and the development of course content. Finalists for the prize will also receive the same non-cash benefits.
The Lipman Family Prize will be administered by the Wharton School, but an interdisciplinary steering committee made up of faculty and staff from across the University of Pennsylvania will select the prize recipient.
“It is an honor to administer such an important award that recognizes organizations with an effective, innovative approach to creating social and economic value worldwide,” Wharton Dean Thomas Robertson said in a statement announcing the gift.
The application process for the inaugural Lipman Family Prize is expected to launch in spring 2011, and the first award ceremony will be held in spring 2012.