Newswise — The Rady School of Management at the University of California, San Diego today announced a new endowed faculty chair, which will be held by the dean of the Rady School of Management. The Stanley and Pauline Foster Endowed Chair is funded by a generous $5 million gift from philanthropist Pauline Foster, president of Foster Investment Group and an active volunteer and friend to UCSD.
The endowment for the chair is at the discretion of the dean to fund various programs. The biennial Stanley Foster Symposium, featuring topical executive level speakers and focusing on important issues of our time, will be one type of program the gift will support. The symposium, in honor of Mrs. Foster's late husband, Stanley Foster, will become a highlight of the Rady School's curriculum and it will be open to students, faculty and the general community.
Stanley Foster, a respected leader in the San Diego business community, was a champion of honesty and integrity in business, which prompted Mrs. Foster to endow the dean's chair. Mr. Foster's entrepreneurial spirit created dramatic growth in his family business and he was an early visionary in the redevelopment of downtown San Diego.
"In just a short time, the Rady School has become a pioneering model for business education and its continuous pursuit of excellence," said UCSD Chancellor Marye Anne Fox.
"I personally thank Pauline Foster for her wonderful gift of $5 million, which will provide our students access to some of our world's most respected business leaders."
With this latest donation of $5 million to UCSD, Foster is now considered a founder for the Rady School. Other Rady School founders include Ernest Rady and the Rady Family Foundation, Roberta and Malin Burnham, Joan and Irwin Jacobs and Carol and William Stensrud.
The Stanley and Pauline Foster Endowed Chair is the university's first $5 million endowed chair. This gift contributes to the $1 billion fundraising goal of The Campaign for UCSD: Imagine What's Next.
"We are truly flattered that Pauline Foster has chosen to make this generous gift to the Rady School in honor of her late husband," said Robert S. Sullivan, founding dean of UCSD's Rady School of Management. "Her investment in the school, in particular establishing the endowed chair, makes our community very proud."
Pauline Foster, who funded the Stanley and Pauline Foster Endowed Chair by a generous $5 million gift to UCSD, is shown with her family. Pictured (left to right) are Karen Silberman, Jeff Silberman, Pauline Foster and Marcia Hazen.
"In our family, philanthropy means much more than writing a check " it's also trying to make a difference with our gifts," added Pauline Foster. "I'm pleased to be involved with UCSD's Rady School, and hope that the Stanley and Pauline Foster Endowed Chair and the Stanley Foster Symposium will make a difference to the university and the business community."
Mrs. Foster has generously agreed to allow a portion of her gift to be leveraged to complete the Rady School's first building, Otterson Hall. The state-of-the art facility is intended to facilitate interaction between the business school, the UCSD campus and the community at large.
Pauline Foster is a native San Diegan with many cultural and philanthropic interests. She serves as a trustee to the UC San Diego Foundation, and has been president of the Jewish Community Foundation. She has also been actively involved with the United Jewish Federation of San Diego, United Way and the Museum of Contemporary Art San Diego. Mrs. Foster was declared Woman of the Year by the State of California Legislature in 1989 and was given the United Way's Alexis De Tocqueville Award in 1998, to honor her extraordinary leadership and service in the community. She attended Reed College.
At the University of California, endowed chairs are teaching/research positions occupied by distinguished scholars. The university provides the teaching/research position and pays the salary of the person appointed to the endowed chairs. The permanent endowed fund created by philanthropic gifts provides perpetual annual income in support of the teaching and research activities of the person holding the chair.
RSS