A New York couple has given $25 million to Wellesley College, the largest donation ever given to a women’s college, The New York Times reports.
The gift from Lulu Wang, a Wellesley alumna, and her husband, Anthony Wang, will help the college kick off a five-year campaign to raise $400 million, the most ambitious fund-raising goal ever set by a women’s college.
The Wangs’ gift will be used to build a new campus center.
Funds raised during the college’s campaign will be used for scholarships, academic and internship programs and landscaping on the school’s 500-acre campus in suburban Boston.
Women traditionally have given less to charity than have men, so women’s colleges have lagged behind co-educational institutions in fundraising. It is no longer rare for coed universities to set $1 billion as a fundraising goal.
Wellesley President Diana Chapman Walsh believes that the Wangs’ donation is a sign that the gap is closing, and is confident in her college’s campaign.
“When we pull this campaign off,” Walsh told the Times, “it will say that women are every bit as capable of raising money to support an institution they love as men are.”
Lulu Wang is the founder of Tupelo Capital Management. She has been a member of Wellesley’s board of trustees since 1988 and is the first woman to head committee in charge of investing the college’s $1 billion endowment.
She also heads the finance committee of the New York Community Trust and serves on the boards of the Rockefeller Family Fund, WNYC and the Metropolitan Museum of Art, among others.
Anthony Wang, a Yale alumnus, retired in 1992 as president and CEO of software company Computer Associates International.