Inside the Transformational Gift
Recently, the Rady School of Management at the University of California, San Diego, announced a $100 million transformational gift from local philanthropist Ernest Rady. It is the largest single commitment ever made to a business school the size of the Rady School, and the gift is intended to empower the Rady School to engage in competitive recruitment of top faculty on a par with Harvard, Stanford, and other major US business schools. At AI, we had the opportunity to speak with both the Rady School’s dean, Robert Sullivan, and the donor, to get a unique dual perspective into the transformational gift. What we learned matches what we have seen with many other transformational gifts. These gifts are a product of: 1. A Shared Vision The story of the Rady School is a compelling one. The school was established in 2003 in the midst of the California/Silicon Valley recession; its dean, Robert Sullivan, arrived from a career leading long-standing business schools at UNC-Chapel Hill and Carnegie Mellon. Sullivan came to UC San Diego with a very specific vision for the school — that it would provide a hub for entrepeneurship and would empower small business growth in the life-sciences, genomics, and […]