Rowan Family Gives Additional $15 Million To Its Namesake University
By David Madden
GLASSBORO, N.J. (CBS) -- Rowan University is getting a $15-million gift from the same family that, some two decades ago, gave the school $100 million.
Glassboro State College became Rowan University in return for that first gift, which was conditioned on opening an engineering school.
Now, you'll see the Rowan name on that school in return for this round of charity from philanthropist Henry Rowan and his family.
"Clearly, these people are seeing the success of Rowan and they see what we are doing is resonating with what they believe in," notes Rowan University president Ali Houshmand. "Therefore, they want to invest with us."
The $15-million gift will help set up a permanent endowment dedicated exclusively to the engineering school.
A statement from the family says they decided to make the second donation because, in part, the university has been a good steward of the first one.
Both gifts rank at the top of the university's all-time charity list.