Are You Up for the Challenge?
Support Iona’s New School of Business with Double the Impact
Robert V. LaPenta ’67, ’00H recently made the largest gift in Iona College history, $15 million, for the redesign and expansion of Iona’s School of Business, nearly tripling the current space available for students and faculty.
Now, LaPenta is challenging other alumni to join him in supporting a new home for the School of Business. In addition to his historic gift, he has pledged $2.5 million in matching funds to encourage alumni from the classes of 1975 to 1995 to participate in this project.
In announcing his expanded plans, LaPenta stated, “I’d like to invite Iona graduates to invest in the new business school, and join me in supporting Iona’s mission to create graduates who are smart, ethical, creative problem solvers.”
For qualifying commitments made by alumni from these classes to the business school project through the Iona Forever
campaign, the “LaPenta Means Business” Challenge will provide matching funds, on a 1:1 basis, thus doubling the impact of each donor’s gift. For example a $10,000 gift becomes a $20,000 gift with the LaPenta match.
"LaPenta Means Business" Challenge Information
Challenge Grant Amount: $2.5 million
Ratio: 1:1 match
Timing: Starts in January 2016
Who: Alumni from the classes of 1975-1995
Gifts Eligible: Minimum $10,000 – no maximum; one-time gifts and/or pledges payable over a five-year period.
Restrictions: Only “cash” commitments will be matched; corporate matching gifts will be considered “cash” and will be matched. Gifts through planned giving vehicles will be NOT be matched.
Example: John Smith ‘85, ‘87MBA has pledged $25,000 in support of the Iona Forever business school project, payable $5,000/year for five years. The LaPenta Challenge will match Mr. Smith’s donation by giving an additional $25,000 to the project, thus doubling the impact of Mr. Smith’s gift to $50,000.
TO BE PART OF THE CHALLENGE OR FOR MORE INFORMATION, CONTACT:
Pamela Bottge ‘92
Director, Iona Forever