STRONGER TOGETHER R E P O R T O N P H I L A N T H R O P Y F I S C A L Y E A R 2 0 2 3 : J U LY 1 , 2 0 2 2 - J U N E 3 0 , 2 0 2 3
It has been a tremendous year for philanthropy at Babson, and the impact can be found everywhere. We marked the highest amount committed in a single year aside from our centennial, and passed a historic milestone of $500 million in our Centennial Campaign in the spring of 2023. Alumni, family, students, faculty, staff, and friends have come together to propel the College to new tiers of excellence, with the momentum we need to set our sights higher for our second century. As we move into our extended campaign, Babson ELevates, I am excited to see what we can continue to achieve together. It also sent a meaningful message that $28.9 million was committed to the College in planned gifts. These investments in Babson’s future remind us how strongly our community values our mission, inspiring us to continue innovating so that we can serve new generations of learners and empower them to become the leaders their world needs. None of our achievements would be possible without supporters like you. We are stronger today and positioned to achieve even more in the future because of your generosity, dedication, and belief in the power of a Babson education. Thank you.
Edward Chiu GOVERNOR CRAIG R. BENSON ENDOWED SENIOR VICE PRESIDENT FOR ADVANCEMENT
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Making Babson Stronger— Together 11,820
donors supported Babson in fiscal year 2023, with a total of
$75,648,909 committed.
FUND FOR BABSON Thank you to our generous donors who committed
$3,302,865
to the Fund for Babson. These vital unrestricted funds ensure that we can meet the needs of our campus and community anytime.
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MAKE YOUR MARK More than
1,600
supporters came together for our annual day of giving in 2022 to raise $397,813. Representing 37 states and 37 countries, Make Your Mark was an inspiring reminder that Babson pride runs strong around the world.
WORLD-CLASS RANKINGS Babson continues to grow stronger than ever thanks to supporters like you, and the world is taking notice.
Entrepreneurship 1 inUndergraduate Programs
#
27 consecutive times
– U.S. News & World Report, 2023
in Entrepreneurship 1 MBA 30 years in a row
#
– U.S. News & World Report, 2023
Entrepreneurship 1 inNortheast Graduate and
#
Undergraduate Programs – Entrepreneur magazine, The Princeton Review, 2024
1 Undergraduate Business School
#
by salary potential – Payscale, 2023
10
#
Best College in America – The Wall Street Journal, 2023
The world needs entrepreneurial leaders ... The strategic thinkers, the risk takers, the problem solvers. They are the unifiers, the ones who lead with empathy and create sustainable solutions on a global scale.
... and we’re educating them at Babson.
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Celebrating the Centennial Campaign and Looking Forward Babson achieved a tremendous milestone in spring 2023—surpassing $500 million in our Centennial Campaign. As part of the College’s centennial celebration, in 2019 we launched the public phase of the campaign with a $300 million goal. The campaign went on to become the most successful in the College’s history. Thanks to donors like you, the campaign is already having a lasting impact on how we educate the next generation of entrepreneurial leaders. It has transformed all areas of campus, from curriculum development and student life, to scholarships and faculty chairs, to facilities improvements and an enhanced endowment. As we celebrate our success, we are also in a strong position to embrace new aspirations and bold ideas. We have now extended the campaign with our sights set on raising an additional $250 million under the banner Babson ELevates— targeting our inclusive strategy to educate Entrepreneurial Leaders who seek to make a difference around the world. By elevating our goal to $750 million total, Babson will solidify our position as the global leader of entrepreneurship and business education.
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“This is an exciting moment for Babson made possible by your belief in our community and the work that we do to educate and inspire the next generation of entrepreneurial leaders. We are grateful for your help in achieving this milestone as we kick off our next chapter as One Babson.” STEPHEN SPINELLI, JR., PHD, MBA’92 President, Babson College
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A Year of Transformative Dedications In FY2023, we celebrated a series of pivotal investments in Babson’s campus and resources. We were honored and grateful to dedicate four facilities and programs thanks to generous naming gifts for their future growth and impact. • Ernesto Bertarelli and the Bertarelli Foundation dedicated the Bertarelli Institute for Family Entrepreneurship (BIFE), furthering Babson’s family-focused entrepreneurial vision. • Faculty member Len Green dedicated the Len Green Recreation and Athletics Complex (LGRAC), investing in the health, wellness, and success of our student-athletes and our entire community. • Bruce Herring ’87, P’19 and Patricia Herring P’19 dedicated the Herring Family Entrepreneurial Leadership Village (HELV), to create a space where our entire community can access the tools, knowledge, and connections that will help them thrive as entrepreneurial leaders and change-makers. • Audrey McLoghlin, founder of clothing company Frank & Eileen™, dedicated the Frank & Eileen™ Center for Women’s Entrepreneurial Leadership (F&E CWEL), partnering with Babson in our shared mission to empower women entrepreneurs worldwide. All four dedications were also a testament to the collective talent and innovation of the students, faculty, staff, and more who have shaped these programs and facilities over the years. These new investments both validate what has already been achieved and position us for new levels of impact and success moving forward.
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“Business is taught in schools all over the world, but very, very few programs pay attention to the importance of family dynamics, values, and culture, and how these are transmitted and how they evolve through generations. This is an area of thinking and teaching where Babson already leads the way, and so it gives me great pleasure to see the College amplify its work.” ERNESTO BERTARELLI ’89
“This is a place where the students who are fortunate enough to get in here can maximize the value of being at a firstclass institution. And they can do all kinds of different things in that athletic center, which is really important, because then they can concentrate the rest of the time with a clear mind. That’s really what I’m doing it for.” LEN GREEN
“The future, in my opinion, is teaching people to be creative, problem-solving, action-oriented leaders in their organizations and community. That’s what Babson does, and my family and I couldn’t be happier to be a part of that big strategy.” BRUCE HERRING ’87, P’19
“I am extremely excited about working amongst the greatest entrepreneurial educators and leaders in the world and the whole Babson community to really support women entrepreneurs and watch them change the world.” AUDREY MCLOGHLIN
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Investing in Athletics
Facilities investments of $10.02 million benefit our entire campus, from baseball field renovations to community-wide resources in the Len Green Recreation and Athletics Complex. More than $1 million has been committed to our Women’s Empowerment Fund, ensuring resources for our female studentathletes for years to come.
3,100 donors committed $13,400,000 total More than
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$2.2 million to our varsity teams and clubs sets them up for success with coaching, travel, and equipment funding.
BAREFOOT ATHLETICS CHALLENGE Our 10th Year Established by former Babson President Brian Barefoot ’66, H’09, P’01 and Pamela Barefoot P’01, the annual Barefoot Athletics Challenge encourages alumni, parents, and fans to support Babson’s athletics program and student-athletes.
1,709 donors
$241,690 raised
Top Teams: Dollars Raised 1. Men’s Ice Hockey (2023 Challenge Winners) 2. Men’s Lacrosse 3. Swimming & Diving
Participation 1. Men’s Tennis 2. Men’s Golf 3. Field Hockey
LEARN MORE about the impact of our generous donors on Babson Athletics in FY2023.
“We’ve got nearly 60 years of lacrosse teams that have played at Babo. Our guys know they’re playing for something bigger than themselves. The support we have from all of those alums, and from families and friends, has been immense…and quite frankly, we wouldn’t be having the success we are without this support. ONCE A BEAVER, ALWAYS A BEAVER! GO BABO!!!” ROCKY BATTY Head Coach, Men’s Lacrosse
“The continued generosity of our alumni and friends of the program has truly allowed us to elevate to the next level. Our resources have allowed out-of-region overnight trips, updated player equipment, locker room upgrades, team building training, as well as funding for our goalkeeping coach. We cannot thank all of our supporters enough for providing the resources to position us in a place for continued success.” JULIE RYAN Head Coach, Field Hockey
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Empowering Entrepreneurial Leaders Babson is uniquely positioned to thrive in a changing world because of our innovative approach to educating entrepreneurial leaders. We have expanded our programs and resources this past year thanks to donors to the Arthur M. Blank School for Entrepreneurial Leadership (AMBSEL) and its six centers and institutes. With these crucial investments, we are empowering learners with the mindset and skills needed to take action, build relationships, and change the world for the better.
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Arthur M. Blank School for Entrepreneurial Leadership
CLASSROOM INNOVATION SPOTLIGHT
“Good Company, Good Game: Law, Ethics & Leadership in Sports Business” Assistant Professor of Practice Leslie Garbarino developed a new sports business course through AMBSEL that launched in the summer of 2022. The underlying theme was the six core values of Arthur M. Blank—Put People First, Listen and Respond, Include Everyone, Innovate Continuously, Lead by Example, and Give Back to Others—that have driven his own business success and now serve as the building blocks of AMBSEL. The signature highlight was a weeklong trip to Atlanta, where the 18 students experienced firsthand how those six core values shape the Blank Family of Businesses and AMB Sports + Entertainment. The life-changing week included visits to the Atlanta Falcons, Mercedes-Benz Stadium, PGA TOUR Superstore, and Atlanta United, where the students met with organization leaders in a variety of roles, including Arthur Blank himself. Students examined the way sports business leaders use legal, ethical, and values-based decision-making frameworks to further their business success while being good neighbors in their communities and forces for good in society at large.
“The course for me was life-changing, from reading the book and learning the core values, but taking it a step further and truly witnessing how these values are ingrained in every single aspect of the businesses. I’ve never witnessed an organization run in this way. And, it was something that inspired me to keep that greater purpose.” TEDDY SOURLIS ’22 Founder and CEO of Men’s Mental, a nonprofit platform that focuses on the mental health of male athletes
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TEACHING VALUES-BASED LEADERSHIP IN NATURE
Summit at West Creek Ranch AMBSEL added a new program to its values-based educational offerings at the beautiful West Creek Ranch in Montana. In October 2022, the inaugural Values-Based Leadership Summit convened a cohort of 18 teachers and thinkers from diverse backgrounds and industries to immerse themselves in the topic of effectively teaching values-based leadership. “Growth” and “transformation” were two words heard repeatedly from participants when reflecting on their experience. From the actionable insights shared, the cohort already is creating impact in their organizations and communities: • A professor restructured his law class on ethics and values to integrate a more holistic and inclusive view of values. • A bank CEO decided to make values-based discussions a consistent part of his leadership team meetings. • A values-based consultant has incorporated nature as a crucial learning space for her students and clients. Additionally, the insights captured at the summit are being used to create a book or other asset that can inform scholars, managers, consultants, and coaches on how to approach teaching this subject.
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“Without exception, every participant emphasized that they had never had values-based leadership conversations in the context of nature and human connection in such a powerful way. This aligned the intellectual with the emotional aspects of talking about values in a real and relevant way which shifted people’s relationship to their work. Values were being experienced in a safe, nourishing environment. Including the natural environment as a teaching tool was an eye opener for folks. Some already use the natural environment to teach, others are now open to exploring its impact on deeper learning.” SCOTT TAYLOR Arthur M. Blank Endowed Chair for Values-Based Leadership
Arthur M. Blank Center for Entrepreneurship
Butler Institute Inaugural Action Tank Retreat The Butler Institute for Free Enterprise Through Entrepreneurship partnered with the Arthur M. Blank Center for Entrepreneurship to sponsor the inaugural Action Tank Retreat in October 2022. Twenty-five undergraduate and graduate students, including our Butler Scholars, had a fully immersive weekend-long experience examining the intersection of public policy, entrepreneurship, and free enterprise, with a focus on technology and media.
“We had an unbelievable opportunity to connect with some of the most ambitious and innovative peers that Babson has to offer…I can personally say that I have learned so much and this retreat is a formative part of my Babson experience.” RYAN WILSON ’23
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B.E.T.A. Challenge In the Blank Center’s annual competition for innovative new ventures, the 2023 competitors embodied Babson’s entrepreneurial spirit and drive to create impact. More than $125,000 in cash was awarded to the winning and runnerup ventures, along with in-kind services donated by sponsors. Grand Prize Winners: • Amelia Thomas MBA’22 (River Otter Renewables Inc.) won the alumni track. • Jennifer Calhoun MBA’23 (G.I. Junk Removal) won the graduate track. • Dylan Zajac ’25 (Computers 4 People) won the undergraduate track.
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The 2023 competition also included three special awards: • Jennifer Calhoun MBA’23 (G.I. Junk Removal) won the High Impact Female Founder Award, sponsored by David Ragins ’94. • Aleksandr Malashchenko MBA’24 (LOYKO) won the Lila W. Sahney Endowed Fashion and Textile Innovation Award, sponsored by Gobind Sahney ’83 and daughter Sabrina L. Sahney. • Anh Thu Le ’24 (Sebela) won the Tech Innovation Award, sponsored by Gautam Gupta ’07. $164,134 was committed by donors and sponsors.
Bertarelli Institute for Family Entrepreneurship Introducing the Babson Global Family Entrepreneurship Network In 2023, BIFE launched the Global Family Entrepreneurship Network (GFEN). A unique community of global business families, the GFEN has been designed to offer curated learning, connectivity, and experiences to educate and empower entrepreneurial families to create value together. We are grateful to the 19 Founding Families in FY2023 who provided early funding and guidance to support the creation of this unique, powerful initiative.
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Frank & Eileen™ Center for Women’s Entrepreneurial Leadership WIN Lab™ Celebrates 10 Years 2023 marked the 10th year of the Women Innovating Now (WIN) Lab™, a venture accelerator program designed by women entrepreneurs for women entrepreneurs. With an emphasis on practical business skills, participants attended weekly content sessions led by Babson faculty and industry experts, covering areas like marketing, finance, and pitching. The Lab also offered entrepreneurs a chance to connect with experienced mentors from its network. The 2023 cohort featured 22 women founders representing a wide array of sectors, facilitating cross-industry learning and collaboration.
“WIN LAB™ offered expertise, support, and sound business training that I could have never gotten on my own. I am more prepared and more confident than I was 12 weeks ago and have a group of women business owners who have my back. It was a flawless program.” KIMBERLY BECKER, K BECKER DESIGNS 16 BA B SO N COL L EGE
“This has breathed a fresh wind into my entrepreneurial mindset. I am more grounded and confident. I am excited about this business and the others to come. It was incredible to meet women of color in different stages of entrepreneurship. I love how we were always excited to learn about what we all bring to the table as businesswomen. I would recommend BWEL for the sisterhood, the wealth of business knowledge, and business growth.” TRACY MALONE, EPIC PARTY PLANNERS LLC
Innovation and Empowerment at BWEL 2022 We convened the fourth cohort of the Black Women’s Entrepreneurial Leadership Program (BWEL) in the fall of 2022. A group of 32 entrepreneurs from across the United States came together for this signature F&E CWEL action tank and gained experience, guidance, and resources to propel their businesses forward—from recently launched ventures to early-stage businesses looking to scale. R EPORT ON PH I LA N T HRO P Y 17
Institute for Social Innovation
Babson Joins the Turner MIINT Hweedo Chang MBA’23 and Martha Buckley MBA’23 partnered to enter the first-ever Babson team in the Turner MIINT competition, a six-month program that teaches MBA students about investing in socially-conscious startups while competing with business schools nationwide. Supported by the Institute for Social Innovation, the Babson team conducted rigorous rounds of developing an investment thesis, sourcing potential investments, conducting due diligence, and ultimately crafting an investment memo to pitch their chosen startup. They eventually qualified for the finals, where they delivered their presentation deck to the judges in Philadelphia and placed second in their category. After such a successful first year, the Institute for Social Innovation is positioned to support Babson MBA students interested in entering the competition moving forward—another valuable experiential learning resource now available for our graduate program.
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“The opportunity to gain this kind of hands-on experience and to have tangible skills by the end of the program is something that I’m really happy about.” HWEEDO CHANG MBA’23
Tariq Farid Franchise Institute
Supporting Future Franchise Entrepreneurs The Tariq Farid Franchise Institute launched the Fyzical Therapy and Balance Franchise Scholars program, creating a cohort to support and educate students with an interest in pursuing a career in franchising. A merit-based scholarship for four undergraduate and graduate students respectively, it includes opportunities for the recipients to engage in programs, events, and a group project together. Thank you to the leadership team at FYZICAL Therapy & Balance Centers for supporting the students who are helping to advance Babson and the Institute as thought leaders in franchising!
“Not only do I want to learn how to expand a franchise, but I would also like to learn how to start a new franchise, especially in developing countries such as my own, Panama. I am extremely interested in the courses offered because they focus on case studies, which I believe is the best way to learn (learning from others). This award will help me make this dream more feasible.” REINA YOHOROS ’24 Fyzical Franchise Scholar
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Kerry Murphy Healey Center for Health Innovation and Entrepreneurship
Expanding Impact—Global Health Innovation Lab It has been an exciting year for the Global Health Innovation Lab, an experiential learning course that has become one of the trademarks of the Kerry Murphy Healey Center for Health Innovation and Entrepreneurship (KMH Center). Our collaboration with Rwanda’s University of Global Health Equity (UGHE) continues, with students traveling there in January 2023 followed by a semester of virtual collaboration. Together, they are advancing health projects that will leave a lasting impact on Rwandan communities.
“For Babson and UGHE to partner, it is an amazing thing to see. It is an outstanding program. I am so proud of my teammates who are working on these projects. They are doing amazing things in Rwanda.” PEACE ISHIMWE ’25
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The KMH Center also received funding to replicate this same Lab model in Brazil, with Unifacisa Educação as the local partner, starting in FY2024. In Brazil, there are more than 1,000 health tech startups with significant increases in investments. The health tech industry has the potential to reduce inequities if tools and solutions are deliberately designed to include the expertise of diverse populations and address the priorities of the communities served by Unifacisa Educação and Hospital de Ensino E Laboratórios de Pesquisa. However, to date, there is a lack of incubators, accelerators, and innovation labs in underserved communities. We are thrilled to be expanding the Lab with new opportunities for our students to understand global dynamics and start making a difference.
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Impact Beyond Campus Powering Babson’s Global Presence Reflections by Amir Reza The Babson experience offers valuable global learning resources— both for people coming here to study, and for experiential learning far beyond our own campus. Our Global Scholars program provides access and support to socioeconomically diverse students from around the world, and international programs expand current students’ perspectives in life-changing ways. Likewise, we have invested in partnerships that shape entrepreneurship education worldwide. However, these opportunities tend to be costly, and risk being outof-reach for many in the Babson community. Philanthropy has been essential to improving access to these transformative programs. In Amir Reza’s dual roles as Dean of both Global Education and the Babson Academy for the Advancement of Global Entrepreneurial Learning, he sees firsthand every day how many opportunities have been created through support for Babson’s international programs. Today, he reflects on the growth of our global reach and the vital resources that are now available for our students thanks to our generous donors.
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Global Scholars “Having philanthropy support Global Scholars is critical. Beyond tuition, it supports the programs in which we’ve been able to help them become members of our community and feel empowered to be leaders and be engaged in the classroom and cocurricular experience. “It also diversifies our international student body in a very intentional way, socioeconomically and geographically. Our tuition only goes up, and you risk having a very homogeneous group without this program.”
Accessing International Opportunities “We have short term programs—these are ways in which Babson students can have a study abroad experience, Babson faculty-led. We have another version, the international consulting experience, where our students are working with a company abroad, led by faculty, and then go and continue that consulting on the ground for a short period of time. Then we facilitate students going abroad for a semester, a full year, or the summer term. “The way philanthropy has supported this—especially this year—is that we’ve been able to offer grants that make these programs more affordable for students who need help covering costs like plane tickets or fees. They can be expensive, and we want as many students as possible to be able to participate because they are transformational experiences. “We also have a cohort called the Glavin Global Fellows, for students who are keen on doing more global learning. We have in any given year about a dozen grant recipients (donor-supported) who explore issues that our world is facing, and that the student is passionate about. For example, one student studied North Korean refugees in South Korea, and a donor had created a fund to support students exploring the plight of refugees, so that was a really nice match. “So again, philanthropy helps our students do these types of activities that they might not otherwise be able to afford. And they not only come back transformed, but help inspire others that it’s not just about the Babson campus. It’s about going out there and engaging. “Also, in all of those contexts, students come back with a new level of empathy for their peers who are not from the U.S. Because they will have gotten lost, they will have felt homesick, they will have felt confused because they don’t know how to read the street signs. Then when they come back and become peer mentors to first-year students, a significant portion of whom are international, I find that they’re going to be more empathetic leaders. So there are a lot of layers of impact.”
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Educational Impact Worldwide “I’m also Dean of the Babson Academy. We have faculty development programs, opportunities for non-Babson students to come to our campus or learn virtually from our professors, and a consortium of universities that we call the Babson Collaborative. Today that has 36 members in 24 countries—it’s a very global consortium. “Sometimes philanthropy helps the Babson Academy on a small scale, like getting scholarships to a virtual program. That gives access to a faculty member from another country to do innovative research or bring in new pedagogy. We’ve also been able to provide prize money for our annual global student challenge, and the ability to travel here for those summer programs. Philanthropy has also helped us pay membership fees of consortium members who are not in a position to afford it. “And sometimes philanthropy is larger scale, where a foundation helps us reimagine how we can shape the future of entrepreneurship education in their region, or in an entire country. We’ve worked with the Luksic Foundation in Chile, and can say with some confidence that we have transformed the Chilean higher education system with regard to entrepreneurship education. Then this past year, the American Romanian Foundation supported us in bringing Babson faculty to Romania to do a program about ecosystems and large-scale macro issues for university directors and provosts there, and another about pedagogy for professors. It had great results, and we believe they’re going to want us to go there on a regular basis. So what we did in Chile is now a starting point for different parts of the world.”
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TARCO Global Learning Fund
FIRST 6 MONTHS OF PROGRESS AND IMPACT
74
students received financial assistance in FY2023, including: 6 graduate students on short-term programs 21 undergraduate students on short-term programs 19 undergraduate students on semester, academic year, and summer programs at partner universities 8 Glavin Global Fellows grants 20 tickets for the Global Entrepreneurial Leadership Forum 1 undergraduate student on Habitat for Humanity— Guatemala
Gift Spotlight—TARCO Global Learning Fund “One gift from this year, the TARCO Global Learning Fund, will transform Babson for years to come. It provides access for students who may not otherwise be able to afford global learning opportunities—with grants, scholarships, financial aid. We received the first infusion of funding in December, and by June it had already impacted over seventy individuals. “We’re now looking at how to create a systematic way for more students to become aware of the TARCO Global Learning Fund, as well as advisors. Babson is working very intentionally to make global learning accessible for students who couldn’t have imagined that they could do it otherwise. “But also, this gift will keep Babson at the cutting edge of innovation. We’ve been award recipients in international education for a number of years, and we consider ourselves and are recognized by others to be leaders. But it’s important that we invest in our faculty and the ways we’re innovating. Our programs are really strong, but how do we create more awareness and a bigger pipeline of students participating? How do we continue to find innovative, interesting, compelling ways to integrate our international students? We’ve been very successful, but we don’t rest on our laurels. We’re constantly digging.”
“I’m excited by the possibility that every student will now have the opportunity to experience study or work programs abroad. Amir discusses the change a student experiences after traveling abroad; this change will open countless doors and opportunities that may not have existed before their travel experience. Putting yourself out there into the unknown and possibly uncomfortable situations will force you to adapt and grow. This experience will clearly help students beyond Babson, in both their professional and personal lives. “My biggest hope is that each student will gain incredible experiences abroad—experiences that will enhance their lives and future careers, and will inspire them to pay it forward.” TODD A. RUDERMAN MBA’99 TARCO Global Learning Fund donor
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Impact of Scholarships For many students, the opportunity to learn and grow at Babson exists only because of financial aid. Every scholarship donor makes a tangible difference in the lives of new entrepreneurial leaders, empowering them with the training and resources they need to succeed.
IN FY2023:
2,981
donors supported financial aid
$5,113,851 committed total
1,168
undergraduates received scholarships
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SCHOLARSHIP SPOTLIGHT
Curtis Johnson ’23 Baldwin Richardson Foods Scholarship Curtis Johnson ’23 may have only just graduated this year, but he is already very familiar with the supportiveness and commitment of our alumni community.
“My whole experience has been grounded in the resources that alumni have shared with me,” he says, reflecting on his four years as a Baldwin Richardson Foods Scholarship recipient supported by Eric Johnson ‘72 P’08. “The alum who donated my scholarship, Eric Johnson, has been a mentor to me, and to other scholarship recipients. And I can see the gleam in his eyes when he’s making impact. When he’s getting the chance to give a young person, who is ambitious and wants to do more, the opportunity to gain access to the elite resources here at Babson, and the chance for an entrepreneur to make a business and impact tens, hundreds, thousands, millions of people. That’s the kind of impact Eric Johnson wanted to have. And it means so much to me, because I wouldn’t be able to be here without it.” As Curtis moves forward in his post-Babson life and career, he appreciates the many ways that the alumni community embraces this desire to help each other and have impact. “We have a global community, and a global mindset. It’s about opening that door when you go through and leaving it open for the people behind you. And maybe there’s another door later, and that person you let in is now going to be the person letting you in,” he describes. “I’m grateful for my opportunities because I can now do more for others. That’s what alumni give to students. It’s the ability to do more for others.” R EPORT ON PH I LA N T HRO P Y 27
Giving With Intention
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Meet some of the many Babson community members whose gifts tell a story of deep personal meaning from their own lives.
“Looking back at the opportunities I’ve had, I can tie them back to the Burrills and back to Babson.
John Goscha ’06 When John Goscha ’06 reflects on his college experience, he has a deep appreciation for not only the opportunities he got through Babson, but the pivotal support and friendship of Greg and Elsie Burrill P’04’04’06’11’11—both when he was a student and for years after. Today, he credits both Babson and the Burrills with his career achievements. With that in mind, he chose to support a scholarship that the Burrills had established, the Burrill Family Endowed Women’s Leadership Award, to show his gratitude and pay it forward for future students like him.
“The Burrills have been a second family for me. They became some of my biggest supporters while I was at Babson and starting my company (IdeaPaint). Babson helped me with financial aid and scholarships, making it possible to attend the college. After graduation, Babson offered me free office space in the Blank Center to start my company, and the Burrills kindly offered to let me live with them. They gave me a room in their beautiful home, and I would use their garage to test IdeaPaint. I think they still have the drips on their garage floor to prove it! I wouldn’t have had all the opportunities I’ve had if it wasn’t for Babson and the Burrills. “And with the Women’s Leadership Award, the Burrills have done more than just give a donation. They’ve had real impact on the people that the scholarship goes to. And it changes the course of their lives. I look at the good fortune I’ve had, and I don’t view it as fully mine. I had a lot of support from scholarship programs that got me to where I am. “So for me, this was a chance to support something that’s very important to them, but also support Babson. I’d like to pay it forward on all the things that Babson and the Burrills have done for me. And over time, I’d like to be able to have as much impact as they have on other people. “Also, I believe that Babson is a place where your giving can go further. Babson has a unique role where it’s educating people not just on facts and how to run a business, but on the type of person you should be in the world. Supporting Babson allows for exponential impact, teaching the next generation of leaders who will not only build businesses but positively impact society. This is why I think my giving to Babson will have the most impact.”
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Brian Lazarus ’94 After Brian Lazarus ’94 had to fund his own tuition through student loans, the most meaningful way of giving back for him was to establish a new scholarship this year to ensure that another student will have access to the Babson resources and experiences that he has appreciated so strongly in his own life.
“When I look back on my journey, Babson provided me an opportunity that I never knew existed. I was a normal high school student with no real understanding of what business school meant. My dad was a lawyer but had graduated from Babson in 1964. As I remember 1989, the summer of my junior year in high school, my father asked me to join him on his 25-year reunion to Babson. I was so impressed with the campus and Boston in general. Especially coming from a kid that grew up in Florida. Once I visited Babson, I knew it was the place for me although I was not sure how I could afford Babson over something a little more practical as the University of Florida. But I knew that if I was given the opportunity to go to Babson, I would make the most of it. So, with the help of student loans, I was able to afford my college expenses. “As I reflect on my professional career, it was Babson that provided me with the opportunity to be successful. Today I am the Chief Accounting Officer of SBA Communications Corporation, an S&P 500 company and one of the biggest real estate investment trusts in the United States. As I look back, I never knew what accounting was until my sophomore year at Babson. But it was my experience that provided me with what I needed to become successful in something that I did not really understand when I first came to Babson. “The main purpose of my giving is to allow another overachiever to accomplish their dreams, whether they know what those are or not. Babson is the perfect environment to bring out the best in everyone. And I truly believe they did that with me as I just needed an opportunity.”
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Jon Thomas ’98 When a crowdfunding campaign was launched to honor longtime faculty member Bob Turner for his 33 years of service here, Jon Thomas ’98 was one of many past students who embraced the opportunity to recognize Bob’s mentorship and impact on his own life.
“Starting Babson in 1994, I found myself on the other side of a digital divide before that was even a term. I was embarrassed I did not have computer skills. Professor Bob Turner’s legendary kindness kicked in. He enrolled me in a computer training class for Babson staff that first semester. After that, I became a regular at his office hours for years. He helped me not only with ordinary academic concerns, but also with grieving the death of a close friend, and how to believe in myself as I navigated adulthood. At every career twist and turn in 25 years since my graduation, he has provided advice, guidance, and support as my lifelong mentor. “There are thousands of student and alumni stories like mine about Professor Turner from his 33 years at Babson. Would I give in honor of his legacy to the Babson community? How could I ever say no?”
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PLANNED GIVING SPOTLIGHT
Deborah Jones-Cerretani ’84 and Craig Cerretani Looking back, Deborah (Deb) Jones-Cerretani ’84 followed a less traditional path to Babson. “I didn’t want to go to just any school, and I loved working,” she recalls. “So I worked my way into the Filene’s training program, which in my day was a great place to go if you wanted a career in retail.” It was there that she began working for the first of two women she credits for her Babson journey, Ellen Kaimowitz Isbitz MBA’76. “She told me she was going to work us hard, but also told me, ‘If you do a great job for me, I’ll bring you right along with me.’” She became an important mentor, and true to her word, helped Deb achieve promotions and new opportunities. However, Deb eventually realized she could only go so far without a four-year degree, and knew she wanted the Babson training that had made Ellen such an effective leader. “Because of Ellen’s influence, I decided that I only wanted to go to Babson, and I’d figure out how to get there.”
“I decided that I only wanted to go to Babson, and I’d figure out how to get there.” DEBORAH JONES-CERRETANI ’84
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Deb knew she was a relatively unconventional candidate, and had to complete a series of requirements before she was accepted. That was when she crossed paths with the second woman who was pivotal for her college experience, Beth Heidenreich Gregg, who was on the admissions committee. Deb learned in her first year that Beth had advocated on her behalf, since she had done so much to prove herself. “That meant everything to me. It was easy to wonder what happened and how I actually pulled this off! I’m thankful to them for giving me the chance.” Once she started college, Babson was an ideal fit. “I was so ready, because I loved the retail business. So I loved going to school more than I ever had.” As she moved on through her career in the
“I want to give to somebody who might have been like me but maybe went a little sooner and didn’t have my situation. It feels like coming full circle for me.” DEBORAH JONES-CERRETANI ’84
following decades, she retained a strong sense of gratitude for Babson— and for the two women who helped her get here. Meanwhile, giving back to the school that impacted her life was also a longtime value in her own family. She still remembers a favorite childhood story about her great grandfather, who got in trouble for spending too much time hunting while he was a student at Dartmouth. Eventually, the administration gave him the choice between hunting less and leaving, and he decided to leave. “He had a little business on the side, making shoes, and he did really well—it became Bostonian Shoes, a big company,” she recalls. “And he ended up giving a lot of money to Dartmouth at the end of his life. I always loved it, that he still appreciated what they said, even if he didn’t listen to them.” Deb and her husband, Craig Cerretani, have now established their own legacy: a planned gift to the Babson Women’s Athletics program. For Deb, this serves as a personally-meaningful way of expressing her appreciation to the women who made a difference in her life while also creating opportunities for future Babson students that she did not have time for during her own college years. “I’ve always loved to play sports, although I never had a chance to play at Babson because I was married and commuting an hour. So I want to give to somebody who might have been like me but maybe went a little sooner and didn’t have my situation. It feels like coming full circle for me.”
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A Lifetime of Impact Remembering Bob Weissman This year, we honored the memory of Robert E. Weissman ’64, H’94, P’87 ’90, G’19 (1940-2023), one of our most dedicated community members. With a record of over $100 million donated here in his lifetime with his wife, Janet Weissman P’87 ’90, G’19, his generosity has shaped the Babson experience for thousands of students, alumni, faculty, and beyond—and will continue to do so for years to come. To commemorate Bob’s impact, we have renamed our highest giving society the Weissman Circle of Distinction—a fitting tribute to his transformative support.
Weissman Scholar Tributes Bob’s most powerful legacy can be found in the dynamic, growing community of Weissman Scholars, past and present. Their memories are a fitting tribute to his life, values, and enduring impact.
“I don’t only thank Bob for believing in me enough to open amazing opportunities for me, I thank him the most for making me feel welcome. Always.” KYLA HAMBALI ’22
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“Bob Weissman gave me so much. Without him, I wouldn’t have been able to go to Babson, where I gained lifelong friends and had many defining moments. His generosity meant that after graduation I could take chances to land the career I have today.” JACOB BRADY ’12
“Almost every day, I find myself studying or painting in the Weissman Foundry, surrounded by a community that consistently thinks outside of the ‘normal.’ I look up from my chair at the entrance of the Horn Library, only to see Bob and Jan’s beaming faces above a fireplace. The family’s positive influence shines everywhere on campus, and the values Bob instilled in all of us I will live out past my years at Babson.”
“As an immigrant to the U.S. going to a private university and having the ability to take advantage of all the programs and opportunities that provided felt somewhat out of reach, and was not in the plans when I began applying to college. Bob’s gift opened a path that would take me to where I am today. His legacy lives on through all of the lives he has touched through his work, his community, his vision, and the values he shared with us. He is present in every step I take down this path he helped shape.” CRISTINA ARIAS ’15
LAURA NICULA ’24
“I am and will always be extremely grateful to Mr. Weissman for giving me the opportunity to be a part of this amazing community. I learned that one of the most important things in life is not only what you do in your life but what you leave behind. Mr. Weissman left behind a seed that I know with time will flourish.” JOSE SCHERRER ’24
“The Weissman Program gave me the community and support I needed to be able to pursue things I never thought possible while at Babson. I’m forever grateful for this opportunity and the enduring community it comes with. Mr. Weissman’s vision and values will live on through us.” ALICIA SIBOLE ’23
“During difficult times, doing what would make Mr. Weissman proud has always led me down the right path. I will always carry the memories and learnings from this program wherever I go!” MICHELLE ONG ’20
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Thank you With your support, we can continue to elevate Babson to new heights.
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Office of Advancement 231 Forest Street Babson Park, MA 02457 781-239-4800 giving@babson.edu Babson.edu/giving