On the heels of its 125th anniversary, Webb Institute has launched a fundraising effort seeking to raise $40 million to enhance the college’s programs, infrastructure and financial resources to meet the growing challenges of an expanding marine industry, the college announced today.
The initiative, entitled "Campaign for Webb: America’s Most Unique College," sets forth the most ambitious fundraising endeavor in the institution’s history, according to the college, which has set a financial goal representing a five-fold increase from the previous campaign initiated in 2003.
“Webb has a unique challenge, as the demand for our graduates exceeds supply; each year, 100 percent of our students receive meaningful job offers or pursue advanced degrees,” said college president R. Keith Michel. “It is imperative that we respond to industry demand; build upon our facilities to provide students access to cutting-edge technology; and, sustain the financial model of providing each and every one of our students with a full-tuition scholarship.”
To lead the effort, Webb has engaged a cabinet consisting of alumni, trustees, past parents and friends. Chaired by Joseph Cuneo ’57, this group consists of the following members: John Couch (honorary alumnus), Alison Granger (parent of alumnus), Roy Johnson ’62, John Malone ’71, R. Keith Michel ’73, Jake Neuman ’93, Anthony Urbanelli ’75; and honorary members Arthur Burr ’54 and Harold Lenfest (honorary alumnus).
The campaign has secured five contributions of $2.5 million or greater, four of which are from cabinet members. The early phase of the campaign has already generated $22.8 million of the $40 million goal.
Of the $40 million campaign goal, $28 million will be raised to strengthen the endowment and ensure intergenerational sustainability of the full-tuition scholarship model, and $12 million will be earmarked for facilities improvement, headlined by the establishment of the Faculty & Research Center and an expansion of the on-campus residence halls.
“Webb Institute’s goal is to attract top students who display a passion and an aptitude for engineering. Because of a carefully crafted blend of theoretical study and practical application, Webb alumni are recognized by the industry as being exceptionally well prepared to make immediate and lasting contributions. While 80 percent of Webb alumni serve the marine community, Webb makes an impact across industries as CEOs of companies and entrepreneurs in high-tech start-ups; as leaders in law, finance, higher education, retail and manufacturing–each building on the solid foundation of the Webb engineering education,” Michel said. “Our success in the Campaign for Webb will ensure that future alumni are well equipped to make their mark on various industries.”