SBU Gets $1 Million Gift for Construction of New School of Business Building

Devoted to creating opportunities for students and focused on the needs of the university, Daria L. Foster has committed $2 million to St. Bonaventure University’s School of Business Campaign, the university announced today. Daria Foster is managing partner of Lord, Abbett & Co. LLC.

The contribution will provide $1 million toward the construction of a new building to house the School of Business and $1 million in endowment to support academic programs.

The gift honors her late husband of more than 30 years, William C. Foster. A member of St. Bonaventure’s class of 1962 and Fordham Law School (’65), Mr. Foster practiced law for 35 years, retiring in 2000 as senior associate counsel for Champion International. He served on St. Bonaventure’s Board of Trustees from 2008 to his passing in 2010. In 2009, the Fosters endowed a scholarship at the university in honor of their mothers, which is now valued at more than $2.7 million, and in early 2011 Mrs. Foster created a similar scholarship fund at Gettysburg College.

“Daria Foster is a great champion of students and of a liberal arts foundation,” said Sr. Margaret Carney, O.S.F., S.T.D., president of the university. “She and Bill shared a devotion to giving back to their alma maters and helping future generations pursue their full potential. Her tremendous generosity in this campaign illustrates a firm belief in St. Bonaventure’s ability to transform how business professionals are prepared.”

Mrs. Foster has more than 30 years’ experience in the financial services industry. She is the first female managing partner of Lord, Abbett & Co. LLC, one of our nation’s oldest money management firms, and also serves as president and director of Lord Abbett Mutual Funds. She earned a bachelor’s degree in English from Gettysburg College and credits much of her success to the varied skill set gleaned in a liberal arts environment.

“St. Bonaventure meant a lot to Bill. It was where he truly matured as an adult. He always had a very warm feeling about the university and wanted to do something that was important,” said Mrs. Foster. “In addition, we have both been the beneficiaries of the generosity of family members, friends and colleagues throughout our lives. This gift also acknowledges these people for their support of us.”

Constructing a new home for the School of Business is important, she said, adding that a new physical plant will affect students’ involvement and interest, and will offer opportunities they would not otherwise have.

“It is my hope that Daria Foster’s leadership in giving will inspire many others to join in supporting the School of Business Campaign,” said Carol Fischer, Ph.D., C.P.A., interim dean of the School of Business. “Her generosity is a remarkable vote of confidence in the work of our faculty and the aspirations of our students.”

The university is in the midst of a $15 million campaign for the creation of a new building to house the School of Business: $10 million for the construction of the business center; $4 million in endowments for faculty and programmatic support; and $1 million for building endowment.

Daria Foster’s gift brings the total of funds raised to nearly $13 million. It is among more than 50 commitments made to the campaign by St. Bonaventure alumni and friends. The university will release information about additional lead donors to the campaign as it continues toward its goal of $15 million.

Donations to the campaign may be made by visiting www.sbu.edu/bullishonbusiness/donate or by calling (800) 664-1273.

For more on the planned Business Center and the School of Business Campaign, go to www.sbu.edu/bullishonbusiness.

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