Transformative

Transformative

A $36 million gift from the estate of two longtime supporters gives the UIC College of Pharmacy a massive push—and a new name, the Herbert M. and Carol H. Retzky College of Pharmacy

Herbert Retzky, BS ’46, and his wife, Carol Retzky, HON ’19, were not flashy people chasing headlines and publicity, but it’s hard not to be wowed by the late couple’s substantial gift to the UIC College of Pharmacy.

After donating more than $8 million to the college over the previous two decades— an already impressive sum that made the Retzkys the college’s largest individual philanthropic donors—an endowment gift of an additional $36 million from the couple’s estate cements the Retzkys’

Over the next three decades, the couple ran Hale Drugs at the corner of North and Oak Park Avenues. While Herb Retzky expertly played the role of the community-oriented pharmacist dispensing medications and sage counsel, Carol Retzky, an energetic and extroverted counter to her husband’s more reserved demeanor, served as the establishment’s pharmacy technician and bookkeeper.

“They were in their store all the time and enjoyed being accessible to anyone who walked through the door,” says Elaine Levin, who first met the couple when she was in kindergarten and now serves as trustee of the Retzkys’ estate trusts. “Herb, in particular, was very interested in promoting the pharmacy profession, and he took that seriously.”

“They were in their store all the time and enjoyed being accessible to anyone who walked through the door,” says Elaine Levin, who first met the couple when she was in kindergarten and now serves as trustee of the Retzkys’ estate trusts. “Herb, in particular, was very interested in promoting the pharmacy profession, and he took that seriously.”

Herb Retzky, in fact, constantly sought new knowledge and established touchpoints with his alma mater to remain connected to pharmacy training and the field’s continued evolution. For instance, he attended a continuing education program on infectious diseases hosted by College of Pharmacy faculty for 25 consecutive years and also served as an alumni representative on several committees at the college, including groups evaluating courses and steering curriculum.

“Herb was someone who loved learning, and being involved with the college was one way he learned more,” says longtime College of Pharmacy faculty member Dr. Larry Danziger, who first interacted with Herb Retzky in the late 1980s when the two served together on an educational policy committee at the college.

Outside of their independent pharmacy, Herb Retzky was an avid photographer and Carol Retzky sang in community choral groups. Both, however, enjoyed studying the stock market, hand-charting stocks and devouring books on investing long before big data and institutional trading became mainstream. They generated their wealth through their separate, wellresearched, and long-term investments in the stock market, which enabled the Retzkys to activate their inherent philanthropic spirit.

“They devoted their life to pharmacy, and they believed in advancing the profession,” Levin says. “Even more, they felt the College of Pharmacy at UIC was a place where they could really make a difference.”

DEVOTED SUPPORTERS OF THE COLLEGE

The River Forest couple first donated to the College of Pharmacy in 2003, bestowing $50,000 to launch two scholarships: one in their name and the second to honor the memory of Lester Weitzman, one of Herb Retzky’s College of Pharmacy classmates.

The River Forest couple first donated to the College of Pharmacy in 2003, bestowing $50,000 to launch two scholarships: one in their name and the second to honor the memory of Lester Weitzman, one of Herb Retzky’s College of Pharmacy classmates.

But that was only the beginning.

In 2012, the couple established the Herbert M. and Carol H. Retzky Endowed Chair in Pharmacy Practice with a $2 million gift. Four years later, they converted that gift into the Herbert M. and Carol H. Retzky Deanship with an additional $3 million commitment. At the time, the Retzkys’ $5 million pledge was the largest gift in the history of the college, the first deanship established at UIC, and only the third deanship in the entire University of Illinois System.

“The Retzkys were a very altruistic couple and simply wanted to help the college,” says Dr. Jerry Bauman, who got to know the Retzkys well during his decade-long run as dean of the college (2007–2017). “They were proud to be in the pharmacy profession and proud to be involved with a college that had such a strong national and international reputation.”

After Herb Retzky passed away in 2017 at the age of 93, his wife of 65 years continued supporting the college. In 2018, she donated $1 million to build the Herbert and Carol Retzky Simulation Center at the college’s Wood Street location. Since its 2019 opening, the contemporary, state-of-the art space has provided

Then, in 2019, months before she passed away at the age of 90, Carol Retzky committed $2 million as the leading private gift to help fund the planned Drug Discovery and Cancer Research Pavilion. The still-indevelopment public-private effort has been thoughtfully designed to fuel collaboration, research, and the advancement of new therapies.

“The Retzkys wanted to support the college in all aspects, and they appreciated the opportunity to impact the college and its students,” Schumock says.

A FINAL GIFT

As the couple designated the UIC College of Pharmacy as the largest beneficiary of their estate, Levin, a California-based attorney, inherited the task of carrying out the Retzkys’ wishes.

When Levin first sat down with Schumock to discuss the gift, she mentioned the couple’s foremost aim was to make a transformative difference at the college.

Together, she and Schumock reviewed the college’s strategic plan and selected projects that would advance the college and, specifically, the student training and professional development efforts the Retzkys so prized.

Eighty percent of the endowment funds are earmarked for merit-based scholarships, a focused attempt to attract the brightest and most committed pharmacy students to UIC. The Retzkys’ generosity raises the amount of current merit scholarships at the college from approximately $200,000 each year to well over $1 million.

The remaining 20 percent, meanwhile, will fund career development initiatives for students. This includes resources to help students enter the profession and activities to increase successful outcomes, which range from placement resources to student-alumni engagement programs exposing students to innovative careers in the profession.

“The university’s academic health enterprise is extraordinarily grateful for the Retzkys’ significant philanthropy, which will continue to expand our scholarship and training opportunities for the pharmacy profession,” vice chancellor for health affairs Dr. Robert Barish says. “This investment will benefit future generations of learners and reflect the common legacy of UIC and the Retzkys to serve the needs of our local community and the state.”

Schumock, meanwhile, calls the Retzkys’ gift “profoundly transformative” for the college. It promises to elevate the caliber of pharmacy students attending UIC and bolster key metrics at the college, from licensure scores to national rankings. Yet more, it strengthens the professional pipeline for pharmacists, addressing a national need for professionals who can deliver high-quality care.

“The resources this gift will generate annually will significantly transform the college, creating opportunities for students, preparing them for success in the field, and driving massive downstream benefits,” Schumock says. “Above all, Herb and Carol wanted to help people and help the profession, and their gifts will help so many students and future pharmacists.”

Herb Retzky once said he and his wife “wanted to provide something that extends beyond our own time here on Earth.” Levin believes this final, enduring gift honors their philanthropic ambitions, as well as their passion for UIC and the pharmacy profession.

“The Retzkys were a private couple who weren’t much for publicity, and while they’d shy away from the attention here, I do believe both Herb and Carol would be extremely pleased with their legacy of what this transformative gift can accomplish for the College of Pharmacy, its students, and the profession,” Levin says.