Alum gives $33 million to
W&L
Biggest donation in school
history to increase faculty pay
By BRITT STANIAR
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Photo courtesy of W&L University News |
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Washington and Lee University could receive up to $33 million from alumnus Gerry Lenfest to increase faculty compensation.
The gift would be the biggest in the school's history.
The average compensation for faculty at Washington and Lee is about 10 percent less than average for America’s top 25 liberal arts colleges, according to faculty at the university.
Lenfest said that he hopes paying teachers more will attract better professors and keep the professors currently at the school from leaving.
“It’s very important that the faculty get adequate compensation,” Lenfest said in a phone interview Thursday. “It’s one thing to love to teach, but you also have to take care of your family.”
The gift is designed to encourage others to follow Lenfest’s lead. The $33 million will be paid to the university only as matching funds to others’ donations and will stop being paid after 2010.
“There’s a strong need for this,” Lenfest said. “I think it will be recognized and I think people will rally to it and match my own gift.”
The university’s most recent strategic plan found faculty concerned about their compensation. The proposal suggested increasing the number of staff, augmenting their skill level, and increasing their pay.
Provost Tom Williams said that if Lenfest’s donation is realized it can “fully satisfy our need as expressed in the strategic plan.”
Lenfest’s most recent donation could bring the total he and his wife have given to $63 million. The university's performing arts center is named for Lenfest and his wife, who also contributed significantly to the school's new art and music center.
Lenfest wants W&L faculty adequately
compensated
W&L University News press release
Lenfest's biographical information
Produced by Washington and Lee journalism students.
Lead supervisor: Prof. Claudette Artwick
Reporting supervisors:
Technical supervisor: Michael Todd