REPORT ON PHILANTHROPY FISCAL YEAR 2024: JULY 1, 2023–JUNE 30, 2024
THANKS TO GENEROUS SUPPORTERS LIKE YOU, THIS HAS BEEN A YEAR OF CELEBRATION AND ASPIRATION.
It is a beautiful fall on the Babson campus, and we are all excited to have started another academic year. We are celebrating Babson’s continued success and exciting new achievements, particularly our jump in the Wall Street Journal rankings to the No. 2 college in the United States this year. The message is clear—the world is recognizing the value and impact of a Babson education.
Donors like you have made our success possible. Your investments in the Babson community are propelling us to new heights every day. The world-class education and career opportunities that we are known for now would not be possible without your generosity.
In short, your dedication is the reason why we have so much to celebrate, and the reason we can set our sights higher for the future. Thank you for your support.
Edward Chiu
Governor Craig R. Benson Endowed Senior Vice President for Advancement
YOUR IMPACT IN NUMBERS
12,927 donors supported Babson in FY2024, with a total of $71,873,878 committed.
FU N D F OR B A B S O N
Thank you to our generous donors who gave $5,631,546 to the Fund for Babson. These vital unrestricted funds ensure that we can meet the needs of our campus and community anytime.
M AKE Y OU R MA R K
1,940 supporters came together for our annual day of giving in 2023 to raise $363,075. Representing 40 states and 38 countries, Make Your Mark was an inspiring reminder that Babson pride runs strong around the world.
WORLD-CLASS RANKINGS
A Babson education is delivering a stronger return on investment than ever, thanks to supporters like you.
Undergraduate Programs
28 consecutive times
– U.S. News & World Report, 2024
MBA IN ENTREPRENEURSHIP
31 years in a row
– U.S. News & World Report, 2024
IN ENTREPRENEURSHIP
Northeast Graduate and Undergraduate Programs
– Entrepreneur magazine, The Princeton Review, 2024
– The Wall Street Journal, 2024 #1 #1 #1 #1 # 2 #1 IN ENTREPRENEURSHIP
UNDERGRADUATE BUSINESS SCHOOL by salary potential
– Payscale, 2023
BEST COLLEGE in America
BUSINESS SCHOOL for return on investment
– Payscale, 2024
COMMENCEMENT 2024
Babson celebrated the Class of 2024 with Commencement speakers who personify the entrepreneurial leadership values our graduates have learned here, and who have had a transformative impact on our campus over many years.
Arthur M. Blank ’63, H’98—co-founder of The Home Depot and owner and chairman of the Blank Family of Businesses—was the featured undergraduate speaker. His major support of Babson, particularly the creation of the Arthur M. Blank School for Entrepreneurial Leadership, has profoundly shaped the education and resources that the College offers today.
The graduate ceremony featured our first father-daughter joint speakers, and continued a family tradition. Eric Johnson ’72, H’24, P’08 and Erin Tolefree H’24, Chairman and President & CEO respectively of Baldwin Richardson Foods, addressed the Class of 2024 almost five decades after Eric’s father, George Johnson H’76, received an honorary degree and spoke at Babson’s 1976 commencement. Eric has been making a difference at Babson since his undergraduate years, founding the College’s Black Student Union in 1970. Now a Trustee, he remains dedicated to supporting our students and faculty with scholarships and term chairs.
INVESTING IN BABSON’S FUTURE
C. Dean Metropoulos Institute for Technology and Entrepreneurship
C. Dean Metropoulos ’67, MBA’68 has made a transformational gift to elevate Babson’s top-ranked entrepreneurship education for a changing world where technology is at the forefront.
The new C. Dean Metropoulos Institute for Technology and Entrepreneurship is a significant investment in the College’s strategic priorities to advance the role of technology and artificial intelligence in entrepreneurial education. Known for revitalizing and innovating iconic brands around the world, Metropoulos is now enabling new generations to create their own impact—from leading in the technology sector to navigating the role of artificial intelligence and other new developments across every industry.
With this groundbreaking Institute, Babson can leverage its strengths in empowering entrepreneurial leaders to make a difference—and prepare learners with the skills they need to succeed in the rapidly-evolving world of technological innovation.
“I am very proud to be part of Babson’s exciting new initiatives in this incredible frontier of technology and AI. The past century has ushered in unprecedented scientific discoveries and innovation impacting humanity and our planet. It is very clear that these technologies are accelerating at a speed never before experienced. This tide clearly offers many opportunities that provide positive solutions to humanity in every aspect of life, from education, business, medicine, environment, and just day-to-day living.
“And yet, with all this progress, we face major global challenges of social and economic inequality, sustainability, and fostering a healthy planet for healthy humans. It is crucial that young leaders and entrepreneurs, business, government, philanthropists, and researchers will need to work closely together to positively impact the challenges confronting us.”
C. DEAN METROPOULOS ’67, MBA’68
INVESTING IN FACULTY
In FY2024, donors established 8 named positions to support Babson’s faculty. With stipends and course releases, these positions give recipients the resources they need to conduct groundbreaking research, contribute to academic knowledge in their fields, and pass their expertise along to their students.
One of these new term chairs was established with a joint gift from Michael London ’92 and Stephen H. Kramer ’92. Close friends ever since meeting in college, they worked together to create a term chair for the Entrepreneurship division.
The recipient, Associate Professor Erik Noyes, has been a key player in boosting technology entrepreneurship at Babson. His research explores the potential of artificial intelligence (AI) to drive entrepreneurship and innovation— a topic that he incorporates into his classes regularly with hands-on training and experimentation. He is also the founding faculty director of the Weissman Foundry and the director of Babson’s new AI lab, The Generator.
“The term chair enabled me to double down on leading AI-transformation at Babson. With the course releases and research support I have more bandwidth to help The Generator scale, leading Babson into the AI-age.”
ERIK NOYES
MICHAEL LONDON ’92 AND STEPHEN H. KRAMER ’92 TERM CHAIR IN ENTREPRENEURSHIP
New Faculty Positions Named in FY2024
Baldwin Richardson Foods Term Chair
Johnson Family Term Chair
Karani Term Chair
Julian E. Lange Term Chair
Michael London ‘92 and Stephen H. Kramer ‘92 Term Chair in Entrepreneurship
Joyce H’22 and Andy Mandell ‘61 Endowed Professorship
John R. Pierog MBA’78 Term Chair
Joseph M. Spinelli ‘98 Term Chair in Finance
INVESTING IN STUDENTS
THE GLOBAL SCHOLARS PROGRAM CELEBRATES 10 YEARS
The Babson community is known for its international reach, and financial aid is essential for that. During the past decade, donors to the Global Scholars Program have ensured that cost is not a barrier for talented students from around the world to access the unique education and career opportunities that Babson provides.
Nearly 100 scholars from more than 40 countries have benefited from the program to date. Along with full costs covered, they participate in specialized group programs and mentoring designed to help them excel at Babson.
“We are more than just a group of students who share a scholarship. Imagine characters in a book or movie who are irreplaceable for the main character’s sense of safety and identity. That’s what the Global Scholars are like for me. We don’t engage in extraordinary activities; instead, we go to dinners, attend plays and games, or simply hang out for casual conversations. It’s everyday life. (Although trying all those cuisines deserves an outstanding mention.) But reflecting on these moments, I realize they are free from judgment or pretentiousness.
“Even though Babson is a great place, it can sometimes feel overwhelming to keep up with the fast-paced business world. For me, the Global Scholars community offers a sanctuary where I can relax and be myself. We wholeheartedly support each other and have a family-like community.”
ANILKUMAR THEVAR ’27 (STUDENT FROM INDIA)
In FY2024: 2,252 donors supported financial aid
$8,912,711 given total 263 donors supported the Global Scholars Program
$1,032,027 given total
“Being a Global Scholar was a profoundly transformative experience for me. It alleviated my concerns about affording higher education and enabled me to concentrate fully on my academic and personal growth. The opportunity to access a world-class education at Babson was a distant aspiration that materialized through the Global Scholarship program.
“Secondly, being a Global Scholar pushed me to embrace a global citizenship mindset. Not only did I have to adapt to a new life outside my home country, but I also learned invaluable lessons from diverse perspectives and global minds. This experience broadened my horizons and fostered a deeper understanding of global issues and cultural diversity.
“I am immensely grateful for the opportunity to have been a Global Scholar. It has not only shaped my academic and professional trajectory but has also enriched my personal development in ways that continue to resonate profoundly in my life.”
EMMANUEL NSANGANWA ’24
(RECENT GRADUATE WHO HAS RETURNED HOME TO WORK WITH REFUGEE POPULATIONS IN RWANDA)
THE CAROL HACKER ENDOWED STUDENT LIFE FUND
The costs of a meaningful Babson experience go far beyond the basics of tuition, housing, and food. An enthusiastic and still-growing group of supporters launched the Carol Hacker Endowed Student Life Fund to help students participate in extracurricular activities as well. Named for retired administrator Carol Hacker, the fund honors her 30-year career by ensuring that future generations can continue to make the most of every opportunity on campus.
In January, the fund made it possible for Madison Roberts ’25, Bri Hughes ’25, and Vishal Sharma ’25 to compete in the regional Kennedy Center American College Theater Festival. Hughes and Roberts were nominated for the prestigious Irene Ryan Acting Scholarship, and Roberts was one of 16 finalists—competing against 300 other students from across New England and New York.
In FY2024 102 donors gave $103,205.
“These students immersed themselves in four days of workshops with professional actors, experiential opportunities in playwriting, stage management, stage combat, and acting, and most importantly, competed for the Irene Ryan Scholarship. None of this would have been possible without the Carol Hacker Fund.”
BETH WYNSTRA ASSOCIATE PROFESSOR OF ENGLISH AND ARTISTIC DIRECTOR, EMPTY SPACE THEATER
EMPOWERING ENTREPRENEURIAL LEADERS
HIGHLIGHTS FROM OUR CENTERS AND INSTITUTES
Thanks to philanthropy, Babson’s award-winning centers and institutes are continuing to expand their programming and resources to educate entrepreneurial leaders worldwide. From new offerings to elevating trademark activities to new heights, they are giving our learners the tools they need to make a difference in their careers around the world.
Arthur M. Blank Center for Entrepreneurship
B.E.T.A. CHALLENGE
Entrepreneurial talent was on full display in 2024 at the Arthur M. Blank Center for Entrepreneurship’s signature pitch event. Nearly $150,000 was awarded in cash prizes to the winning and runner-up ventures, as well as in-kind services donated by sponsors.
• Aleksandr Malashchenko MBA’24 (ReviMo), graduate track
• Chloe Samaha ’25 (BOND), undergraduate track
Special Awards:
• Aleksandr Malashchenko MBA’24 (ReviMo) won the Technology Innovation Award, sponsored by Gautam Gupta ’07
• Vaidehi Tembhekar MBA’21 (Jahazii) won the High Impact Woman Founder Award, sponsored by the Frank & Eileen™ Center for Women’s Entrepreneurial Leadership
• Chloe Samaha ’25 (BOND) won the Stephen H. Kramer ’92 and Michael London ’92 Award, sponsored by Stephen H. Kramer ’92 and Michael London ’92
• Gopika Maheshwari MBA’24 and Rohan
Patil MBA’24 (Plantex Tech) won the Family Entrepreneurship Award, sponsored by the Bertarelli Institute for Family Entrepreneurship
• Adila Rammadia MBA’24 (Snug Scrubs) won the Lila W. Sahney Endowed Fashion & Textile Award, sponsored by Gobind Sahney ’83 and his daughter Sabrina L. Sahney
$95,400 was given by donors and sponsors.
The impact of philanthropy went beyond the prize categories in this year’s B.E.T.A. Challenge. Vaidehi Tembhekar MBA’21 reflects on how the Gerri Randlett Got Your Back Fund shaped her experience.
“The help I received from the Got Your Back Fund is truly special to me because it meant I could travel to Babson for the B.E.T.A. Challenge from Nairobi, Kenya. It meant I could pitch my startup, Jahazii, in-person as opposed to virtually. It meant I could connect with the audience.
“It was even more special because I ended up winning two awards— the overall winner of the Alumni B.E.T.A. Challenge and the High Impact Female Founder award. It was such a special moment to receive the awards in-person and be able to make the most of the vibrant atmosphere. It was such a great experience for me, and none of this would have been possible without the Got Your Back Fund.”
The Gerri Randlett Got Your Back Fund in FY2024: 53 donors gave $22,586
BUTLER INSTITUTE ACTION TANK
The second annual Butler Institute Action Tank in 2023 brought together 25 students for a unique learning experience around the intersection of policy and business. Artificial intelligence in healthcare was the focus, with students fully immersed for two days in debates, panel discussions with experts from the field, and research projects.
Bertarelli Institute for Family Entrepreneurship
FIRST YEAR OF THE GLOBAL FAMILY ENTREPRENEURSHIP NETWORK (GFEN)
2023-2024 was the first year of programming for GFEN, the world’s first family entrepreneurship network. Its purpose is to help families create economic value and social impact built on the foundation of stronger family relationships. With customized learning plans and a communication platform for member families to connect with each other, a dynamic global community is emerging.
The network is composed of a select group of 26 (and counting) leading enterprising families.
As members, they provide critical funding for the Bertarelli Family Institute for Family Entrepreneurship’s (BIFE’s) cutting-edge programs and innovative learning.
LIVE CASE STUDY FEATURING GORILLA GLUE
BIFE brought together 250 participants for its signature Live Case Study event. One of BIFE’s most popular events each year, Live Case Studies are an opportunity to feature an established family entrepreneur who shares their own personal, family, and business challenges. This year’s program featured the company Gorilla Glue. Through role play and reflection, participants explored what they would do in the face of the presented challenge and how they could apply what they were learning to their own circumstances.
Frank & Eileen™ Center for Women’s Entrepreneurial Leadership
WIN LAB ™ 2024
26 students participated in the Babson Women Innovating Now (WIN) venture accelerator program in 2024. Many are already putting their robust training to use and achieving success at other programs across campus—Chloe Samaha ’25 and Gopika Maheshwari MBA’24 were among the B.E.T.A. Challenge winners, and Asri Wijayanti MBA’25 and Aya Iwata MBA’25 (Mombies) won second prize at the Babson Acceleration Club Pitch Competition.
A year after cutting the ribbon to dedicate the renamed F&E CWEL, Frank & Eileen™ Founder and CEO Audrey McLoghlin visited Babson to participate in one of the WIN™ Lab sessions. Her remarks during the session offered a glimpse into her experience and the realities of business for emerging women entrepreneurs and helped inspire and guide WIN™ Lab participants.
BABSON WOMEN CONNECT
The Frank & Eileen™ Center for Women’s Entrepreneurial Leadership (F&E CWEL) co-sponsored Babson Women Connect 2024, organized by the Babson Women in Business Club and spearheaded by CWEL Scholar Radhika Kasera MBA’24. The daylong event brought together graduate students and alumni for panel discussions and networking, to foster meaningful connections and promote intergenerational lifelong learning.
Institute for Social Innovation
SOCIAL INNOVATION FUND LAUNCHED
Thanks to generous support from KP and Priya Balaraj P’25 and the KPB Investments Board, a new Social Innovation Fund was launched in 2024. This fund supports immersive social innovation experiences, catalyzing Babson students on their learning journey and pursuit to positively impact business and society. Priority is given to students with financial need, to ensure access.
In the first semester of its launch, the fund supported:
2
students spending a week teaching entrepreneurship to youth in Tanzania through the Babson Youth Entrepreneurship Program
6
students traveling and participating in a Tulsa Black Wall Street learning experience during spring break
9
students traveling and participating in a Habitat for Humanity service immersion experience during spring break
2
students traveling and participating in the Virtuous Capitalism in Malaysia and Thailand course
9
students attending social innovation conferences in Washington, DC; Miami; and Alexandria
ENTREPRENEURIAL ADVOCACY TRAINING
In fall 2023, the Institute for Social Innovation and the National Center for Civil and Human Rights (NCCHR) piloted an Entrepreneurial Advocacy micro certificate program. Advocacy training through an entrepreneurial lens can support those driving change in any sector, leading to better outcomes for both business and society. As part of the program, 20 Babson students and two social sector leaders got hands-on experience developing an advocacy campaign.
The program will be offered again at Babson in the 2024-2025 academic year and may be brought to external organizations as well.
Kerry Murphy Healey Center for Health Innovation and Entrepreneurship
GLOBAL SURGERY SLINGSHOT
The Kerry Murphy Healey Center for Health Innovation and Entrepreneurship (KMH Center) launched a new program to bring Babson’s entrepreneurial education to healthcare innovators around the world. The inaugural Global Surgery Slingshot convened a cohort of 20 professionals who have envisioned solutions to global surgery challenges. In this intensive bootcamp, free of charge, they learned the skills they need to attract investors, scale their ventures, and turn their ideas into viable solutions that can save more lives.
“As a surgeon, I have seen firsthand the impact that access to surgical care can have on communities. However, I realized that to truly make a difference, I needed to combine my medical expertise with entrepreneurship skills. I wanted to learn how to turn my vision into a reality.
“Through the course, I have gained invaluable insights into business planning, fundraising, and stakeholder engagement. I have also had the opportunity to connect with like-minded individuals who share my passion for global surgery and who have provided me with invaluable feedback and support. Looking forward, I am excited about the possibilities that lie ahead.”
SHEKU DENNIS MASSAQUOI, MD, PGD, PGC, IVLP SIERRA LEONE
“Supporting this project is a reflection of my deep belief in the positive impact we can achieve. It not only benefits our students at Unifacisa and Babson but also enriches the broader community, as the Global Health Innovation Lab serves as an academic bridge between both institutions.
“I am confident that this support will generate significant positive impact and further the development of innovative solutions to health issues in our communities.”
THE GLOBAL HEALTH INNOVATION LAB GOES TO BRAZIL
The KMH Center brought the inaugural cohort of students to Brazil for the newest version of its signature experiential learning course. Dr. Diego Nery Benevides Gadelha MBA’22 supported a partnership with Unifacisa Centro Universitário, which hosted Babson students for a visit followed by virtual collaboration. Five Unifacisa-Babson teams (30 students total) were paired with local organizations to develop, test, and implement innovations that address gaps in healthcare access for their communities.
DIEGO NERY BENEVIDES GADELHA MBA’22
Tariq Farid Franchise Institute
NEW PODCAST ON FRANCHISING
The Tariq Farid Franchise Institute released a new podcast this year, “Stars of Franchising: Stories of Inspiration & Entrepreneurial Grit.” Each of the 35 episodes features an interview with franchising innovators and visionaries from around the world, hosted by Ab Igram MBA’96, Executive Director of the Farid Institute, and Vini Onyemah, Ph.D., Professor of Sales & Marketing.
“I’m grateful to have built a network of proven winners and leaders in the franchise industry, and to give them this global platform to share their passion and knowledge.”
AB IGRAM MBA’96 EXECUTIVE DIRECTOR, TARIQ FARID FRANCHISE INSTITUTE
PODCAST GUESTS INCLUDED:
Brian Belmont and Scott Wendrych, FYZICAL
Elaine Chow, CHOPVALUE
Christo Demetriades and Heather Elrod,
CONSCIOUS CAPITAL GROWTH
Ken Doyle, THE HALIFAX GROUP
Jonathan Epstein and Omar Simmons, PLANET FITNESS
Alex Faigel, DR. DENTAL
Tariq Farid and Ramzi Daklouche, EDIBLE BRANDS
Shane Franson-Evans, MASSAGE HEIGHTS
Kristin Kidd, SCHOOL OF ROCK AND THE LASH LOUNGE
Dr. Ausanee Mahagitsiri Leonio, KING FOOD GROUP (THAILAND)
Gary Raphael, RITA’S
Elizabeth Roberts, PURE BARRE
Stephen Spinelli Jr., MBA’92, PhD
Jim Tselikis, Sabin Lomac, and Annie Tselikis, COUSINS MAINE LOBSTER
Nigel Travis and Neal Faulkner, DUNKIN’
Tim Vogel, SCENTHOUND And many others
FRANCHISE CERTIFICATE PARTNERSHIP WITH CLARK ATLANTA
As part of Babson’s efforts to promote entrepreneurship as a means to create economic and social value, the Franchise Institute has launched a partnership with Clark Atlanta University to create a Franchise Certificate.
The Franchise Institute and Clark Atlanta are working together to develop curriculum and assets with the overarching theme of preparing a franchisee with the critical skills needed to select, start, and grow a franchise. A solid foundation in Babson’s trademark Entrepreneurial Thought and Action® will be incorporated as well.
Once established, this certificate will also be scaled and offered to the broader higher education community.
Stephen D. Cutler Center for Investments and Finance
BANK OF AMERICA CEO FEATURED IN DISTINGUISHED SPEAKER SERIES
In partnership with Scholars of Finance, the Stephen D. Cutler Center for Investments and Finance welcomed Brian Moynihan, CEO of Bank of America, to campus for a fireside chat with moderators Oleksandra Mukha ’26 and Emily Truszkowski ’26. In front of over 300 Babson community members, Mr. Moynihan touched on topics from his early education to his career, values, and leadership before taking time to connect with members of the Babson community during a networking reception.
ALUMNI ENGAGEMENT AT THE CUTLER CENTER
Many alumni have found ways to stay connected with the Cutler Center and support current students. Highlights from the 2023-2024 academic year include:
Alua Askarbek ’18, CFA, Vice President, BlackRock
Returned to campus in the fall to participate in the Center’s annual finance career panel, and hosted students in New York when BlackRock participated in the New York City Finance Trek.
Edward Ciancarelli ’00, CFA, Principal & Senior Portfolio Manager, The Colony Group
Completed his second year as an Executive in Residence for the Babson College Fund.
Sri Krishnamurthy MBA’11, CFA, CAP, CEO & Founder, QuantUniversity
Moderated a conversation during Boston Fintech Week with a group of industry experts on the topic of how artificial intelligence (AI) has significantly impacted the field of investing in recent years. Following the discussion, Sri also taught a masterclass featuring a lecture on current trends in generative AI and opportunities in fintech.
Ken Martin ’95, Head Trader, Fidelity Investments
Returned to campus as a guest speaker at the 13th annual Babson Trading Competition, sponsored by Fidelity. Ken spoke with participants before the competition, highlighting his role and responsibilities at Fidelity as a head trader. In the spring, he also hosted the top five winners from the competition at his Boston office.
Mike Massaro ’00, CEO, Flywire
Returned to campus in the spring to connect with students and discuss his role as CEO of Flywire, a global payments platform that made its public debut on the Nasdaq in 2021 during the global pandemic.
INVESTING IN ATHLETICS
3,351 donors committed $2,461,011.
$2.16 million committed to our varsity teams and clubs sets them up for success with coaching, travel, and equipment funding.
BAREFOOT ATHLETICS CHALLENGE 2024: CHAMPIONS THEN, CHAMPIONS NOW
The 11th annual Barefoot Athletics Challenge was a resounding success, with our highest-ever number of donors and gifts supporting Babson’s student-athletes.
Celebrating the legacy of past team members who have paved the way for our current successes, Barefoot supporters competed to show their team pride and unlock challenge funds. Together, all donors made a major impact on the entire program, funding new equipment, travel, coach salaries, and much more.
2,048 donors raised $309,334.
Established by former Babson President Brian Barefoot ’66, H’09, P’01 and Pamela Barefoot, the annual challenge encourages alumni, parents, and fans to support Babson’s athletics program and student-athletes.
NATIONAL CHAMPIONS
With their victory in the NCAA Doubles National Championship, Olivia Soffer ’25 and Matia Cristiani ’26 earned Babson’s first-ever women’s national title.
A GAME-CHANGING INVESTMENT IN BABSON GOLF
TEAMWORK IN ACTION: A NEW MEN’S SOCCER ENDOWMENT
A dedicated group of alumni, parents, and friends came together to honor longtime men’s soccer coach Jon Anderson ’75, P’04 ’08 ’13 ’13. Together, they raised the funds needed to endow Anderson’s head coach position in tribute to his 38 years leading the team.
This group gift is a meaningful testament to Anderson’s impact on so many members of the team for decades, and it ensures a strong future for Babson men’s soccer.
The future of Babson’s men’s and women’s golf programs is now stronger than ever thanks to a transformative gift from entrepreneur and investor Dan Fireman MBA’00. He has established a new program endowment to support Babson golf while expanding recruitment efforts for both men and women and providing travel opportunities to help foster team cohesion. Another major goal is to increase collegiate golf opportunities for young women.
Learn more about the impact of our generous donors on Babson Athletics in FY2024.
GIVING WITH INTENTION
Meet some of the many Babson community members whose gifts tell a story of deep personal meaning from their own lives.
SCHOLARSHIPS—BUILDING ON A FAMILY LEGACY
Amy Reich Weil ’87
After creating the Amy Reich Weil ’87 Scholarship in 2015, she gave this year to grow it into an endowed fund for the future
“There are certain things in life that shape you. I was just seven years old when my aunt was murdered. She was a sophomore in college at the time. As my family grieved for her, their thoughts went to how to remember and honor her. It was then that our family scholarship was born, and it lives on over 50 years later.
“It was then that I decided that when I had the income, I would give out scholarships of my own. What I didn’t expect was that paying for my own college tuition would be such a struggle—I worked 2-3 jobs while commuting to Babson. As much as I wanted to donate money, it took longer to have that disposable income as I was growing my business and family, so in the meantime I gave of my time and my experience. From there it snowballed into opportunities to give more.
“I’ve connected with students who benefit from the Weil Family Scholarship, and we hear from them that it wouldn’t have been possible to attend Babson without this money. Students often ask how they could repay us for what we’re giving them today. My answer is always the same: pay it forward. Do what you can, when you can. As you grow and thrive in your careers, give more, and always remember the impact it had on your own lives.
“As I approach retirement, it seemed like the perfect time to make sure our scholarship lives on in perpetuity. And so we have committed to an endowed scholarship, which will leave a legacy and hopefully inspire others to do the same.”
PAYING IT FORWARD IN ATHLETICS
Andrew Kent ’02 M’23
Member of the Men’s Cross Country team as an undergraduate; donates to the program today
“When I was on the cross-country team, every summer we would travel and do high-elevation training. A lot of that trip was subsidized by alumni supporters. So a few years ago, I got more involved in giving back. After the great experience I had, I wanted to pay it forward.
“When I give, I view it as an investment, and the returns on that investment can be emotional, like the feeling of happiness that others are benefiting. And I’ve seen that the cross-country program has flourished. We probably have the most competitive cross-country team now that Babson has ever had. Donors like me
get to see how our giving improves the resources of the program—the quality of coaching, the equipment, the races they can go to, the summer and spring training they can participate in.
“Those investments make me feel good, because when I think back to myself 20 years ago, applying to Babson and not even sure if I was going to be a runner in college at all, it’s nice to know that the people doing it now are going to have even greater opportunities in the sport they love.”
SUPPORT FOR VETERANS, FROM VETERANS
Alumni donors have enabled the College to establish new undergraduate and graduate scholarships for veterans with financial need this year. Bob Campbell MBA’73 and Dan Welch ’94 P’24 ’26 reflect on what it means to each of them to help new generations of veterans start their next chapter at Babson.
Bob Campbell MBA’73 Veterans Scholarship donor
“After earning my undergraduate degree in marketing followed by a brief stint in corporate America, I became an officer in the United States Navy. After four years and attaining the rank of Lieutenant, I wanted to reenter the ‘business’ world upon discharge. Many of the management skills I learned in the Navy were transferable, but I realized that I still needed to upgrade and expand my business-oriented skill sets.
“I was newly married and working full-time, so I needed a high value educational program that had credibility in the marketplace and could provide those necessary skills. With Babson’s reputation for entrepreneurial studies and my access to the GI Bill, I entered the MBA program at Babson.
“It was without a doubt a terrific program for me because I was involved with men and women who had some corporate experience and several with military backgrounds as well, so we came at the curriculum from similar backgrounds and experience levels.
The military experiences and orientation to problem solving were appreciated by our professors and peers. Instead of discounting the military experience, Babson’s MBA program embraced the real-world ‘the buck stops here’ approach to taking responsibility for one’s contribution to solving problems.
“Why do I give to Babson and in particular the Veteran’s Scholarship Fund? I know the sacrifice (on many levels) that military veterans have made, and I feel a responsibility to help other veterans access the same benefits that I was fortunate enough to enjoy and parlay that education into a successful business career. Babson didn’t have this scholarship program in those early days, but they do now, and therefore some of my philanthropic dollars go to help needy veterans.
“Thank you, Babson, for your focus on veterans’ education!”
Dan Welch ’94 P’24 ’26
Established the Dan ’94 and Nancy Welch P’24 ’26 Babson Undergraduate Veteran’s Scholarship in memory of Joe Carver, the dean of undergraduate admission who sponsored Dan through the admission process
“I went to high school and as the youngest of three children, needed to go into the military to help raise funds for a college education. The program I qualified for was called the Naval Nuclear Power Program. It required a six-year commitment. After six years of naval undersea operations, you lose some perspective in applying to college. I felt like I needed a point of connection in the admissions office, and a local Wellesley family friend got the Dean of Admission’s name, Joe Carver. So I called the Dean’s office and asked for a conversation. Amazingly we connected—Joe invited me up from the base in Groton, CT and interviewed me himself. I am forever grateful that he took a chance on someone like me from a non-traditional background.
“My enthusiasm and ability to dive in and figure things out was pretty good going into the process of Babson admissions. But I don’t think it’s fair to assume that everyone exiting the military has the tools and network they need to navigate that process. Many people enlist young—just coming out of high school. And military training is designed to give specific structure to young recruits. You are living in an environment where everything is laid out for you. And there are a lot of question marks for somebody
coming out of this environment and being told to go figure out what to do next.
“I feel a responsibility to help people coming out of a program like mine. The Naval Nuclear Power Program is an excellent filter for ability, both academic and professional. I served with people who came from humble backgrounds, and who probably would have gotten low SAT scores based on the curriculum in their high school. But when the military tested them on whether they could go through the nuclear power program (a very hard engineering program), they passed with flying colors. I think it’s incumbent on us to offer these folks the possibility of a college education— and particularly an education as useful and valuable as the one Babson offers.
“So, I think the first step for me is being able to tell people, ‘Here’s Babson, and here is why it is a good school for your specific background. The school is very military-friendly, and I went there and have started a scholarship.’ I want to help them follow my path and hope to give them the courage to do that.”
PLANNED GIVING SPOTLIGHT
Jacob Miles ’98
For Jacob Miles ’98, college was a time of pivotal growth. He came to the Babson community from a very different environment in Texas and had new opportunities to understand his identity while preparing for his career.
A highlight for him was being able to study abroad in Argentina. “That semester changed my life,” he recalls. “It was a chance to go somewhere that nobody knew me and start over. And I think that’s something college can offer to many people.”
Since that time, Jacob has forged a strong connection with Babson as a supporter of the College’s LGBTQ+ programming, through yearly donations and engaging with students and alumni. This past year, he decided to build on his commitment and make a gift with longterm impact in mind.
At a statistically younger age than many people develop estate plans, Jacob was analyzing his non-liquid assets and identifying how he could use them to make a
lasting difference. He ended up establishing a life insurance policy gift to endow Babson’s staff position supporting LGBTQ+ and identity programs. “I believe in this cause. It’s a different environment than when I was growing up in the ’90s, but there’s still a major need for people to feel welcome and supported at this stage in their lives.”
Jacob hopes that gifts like this will ensure that diversity of all kinds can flourish across the entire Babson community—students, staff, and leadership alike. His goal is to encourage a virtuous cycle where prospective students can see themselves belonging, and then come to Babson and become part of an increasingly dynamic environment. “I want Babson to be a place that can celebrate the beauty of a diverse community—where it isn’t seen as a struggle between different people, but embraced as an opportunity to learn from each other.”
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