The W.P. Carey Foundation made another generous donation–$50 million–to the Johns Hopkins Carey Business School this month, continuing its nearly two decades-long support of the Baltimore-based institution. Back in 2007, JHU Carey was established through the support of an initial gift of $50M from Wm. Polk Carey, founder of the W. P. Carey Foundation. The latest $50M donation brings the foundation’s cumulative support of the school to $125M.
“Our goal at the W. P. Carey Foundation is to prepare generations of professionals with a calling for leadership in business and civic life,” said William P. Carey II, the foundation’s chair and grand-nephew of its founder. “It’s inspiring to see how many of the Johns Hopkins Carey Business School’s students and graduates want to use their energy and intellect as a force for good—not only in business, but in their communities. Baltimore has long been central to that mission, and we are proud to support educational pathways that foster opportunity, growth and lasting socioeconomic impact in the city and beyond. We are honored that our family name is part of their success stories, and enthusiastic about continuing that legacy for the next generation of Carey scholars.”
Carey reports that the gift will be used to support the following:
- Student entrepreneurs will see startup funding and enhanced connections for full-time MBA students to Johns Hopkins Technology Ventures and The Pava Marie LaPere Center for Entrepreneurship. The funding will also build bridges between Johns Hopkins University undergraduate and graduate programs.
- Full-time MBA student recruitment, innovative student leadership programs, faculty professorships and support, will benefit from the gift.
- Carey Business School also plans to increase its visibility as the premier business school in the business of health.
- It’s Baltimore, hon! Even as the school expands in Washington, D.C., Baltimore is their primary home. With this gift comes an “intentional focus” on Baltimore’s business and societal fabric with the development and launch of student-founded businesses centered on Baltimore.
“There has never been a more compelling moment to invest in Baltimore,” remarked David Rubenstein, Co-founder and Co-chair of the Board, Carlyle , and Principal Owner, Baltimore Orioles . “This commitment to the Carey Business School represents a meaningful investment in the city’s entrepreneurial ecosystem—one that can generate long-term economic impact for Baltimore and the state of Maryland. By honoring the W. P. Carey Foundation’s historic commitment to Johns Hopkins, the Foundation is not only recognizing a legacy of excellence, but also helping to build the next generation of innovative leaders and businesses.”
Read the full announcement here.
