The A. James & Alice B. Clark Foundation, which has a long history of support for the Stevens Institute of Technology in Hoboken, culminated its giving Tuesday with a transformative $21 million gift.
The commitment — the largest such donation in the university’s 155-year history — not only will enhance the already established Clark Scholars Program, but it also will launch the Clark Scholars Philanthropy Challenge Endowed Fund.
In recognition of the donation, the school will name one of the two towers of its University Center Complex after A. James Clark.
Stevens President Nariman Farvardin obviously was thrilled by the graciousness of the gift.
“This extraordinary contribution represents far more than financial support — it embodies the enduring legacy of a man who was my mentor and dear friend,” he said. “The Clark Scholars Program produces graduates who exemplify Jim Clark’s values: integrity, hard work, commitment to excellence and dedication to humanitarianism.
“I am profoundly honored to have been part of this transformational relationship, and I’m confident that decades from now, some of these Clark Scholars will return to Stevens to do for future generations what Jim Clark has done for ours.”
The Clark Scholars Program identifies and supports students who demonstrate exceptional leadership skills, integrity, business acumen, engineering prowess and dedication to humanitarian service – qualities that exemplified the late A. James Clark, the foundation’s namesake. Clark, a successful business leader and philanthropist, believed that business success begins with engineering excellence.
Graduates from the program have secured positions at leading companies including Lockheed Martin, Bank of America and Procter & Gamble, while others have earned fully funded Ph.D. fellowships at top institutions and consistently graduated with highest honors.
The naming component of the investment will designate a tower within Stevens’ University Center Complex, a space that houses nearly 1,000 students and serves as a gathering place for the entire campus community.
The A. James Clark Residential Tower will stand as a permanent symbol of the Clark Foundation’s impact on Stevens and its role in the university’s continued ascent to new levels of achievement and prominence.
The partnership between Stevens and the Clark Foundation began during President Farvardin’s previous tenure as dean of the A. James Clark School of Engineering at the University of Maryland, where he first met Jim Clark and was inspired by his philosophy of creating concrete connections between effort and opportunity.
“This historic investment reflects our deep confidence in Stevens and its commitment to cultivating the next generation of engineering leaders,” Clark Foundation Board Chair Courtney Clark Pastrick said. “We are proud to partner with an institution that so powerfully embodies the values of my father, A. James Clark and to ensure his legacy continues to shape lives for decades to come.”
Joe Del Guercio, president and CEO of the Clark Foundation, was equally moved.
“Having served on the Stevens Board of Trustees, I know how deeply committed this institution is to academic excellence and developing students as leaders,” he said. “This investment builds on that foundation, opening doors for future generations of Clark Scholars to thrive not only as engineers but also as leaders dedicated to strengthening their communities.
The A. James & Alice B. Clark Foundation is preparing to sunset in December 2025, making this support part of the foundation’s final chapter of transformational giving. The Clark Foundation’s investment ensures that Jim Clark’s vision of engineers who make their mark on the world through both technical excellence and service to humanity will continue for generations to come.
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