Goal of $1.5M Nearly Reached
When President Philip E. Austin steps down later this fall after 11 years of leading the University of Connecticut, his legacy will include a refurbished campus, a five-fold growth in endowment, an increased reputation for academic excellence, national athletic success and many other points of pride. In addition, as a result of the UConn Foundation's efforts, Austin's name itself will live on through the establishment of a new $1.5-million faculty chair in his honor.
Officially announced on April 14 at the 2007 Founders Society celebration, the Philip E. Austin Endowed Chair will fund a highly visible faculty position after approval by the UConn Board of Trustees.The drive to fully fund the chair is supported by some of the University's most prominent donors and leaders, who each have worked closely with Austin during his historic tenure as the University's president.
"Part of Phil's legacy is, obviously, the physical transformation of UConn with the dramatic assistance of the state," says John "Jack" W. Rowe, M.D., chairman of the Board of Trustees and an incorporating donor of the Austin chair. "But beyond the bricks and mortar, he has led the University to a much greater level of academic strength and enhanced pride. You simply can't put a price tag on that. This institution today is a reflection of his vision and determination."
Ray Neag '56 '01H, whose transformational gift of $23 million in 1999 marked a turning point for private giving to support the University, says that Austin's personal style ofleadership has made the difference.
"We have a professional relationship that has grown into a friendship," Neag says. "It's not often you can find a person with as many qualifications as he had as a leader and a smart businessman, as well as someone who was adept at meeting the challenges that we faced. Most of all, his personality allowed him to relate to students and recognize all sides of the issues at hand. He's moved us to a first-class position across the country."
The chair will offer an opportunity to recruit a nationally recognized scholar and highlight the role that private giving plays in recruitment and retention of preeminent faculty.
"We're at a crossroads today where we can grow the University even more, and we need private support to do that," says Denis McCarthy '64 '65, who was chairman of the UConn Foundation's Board of Directors during much of Austin's tenure. He says that the challenge of funding the chair with private giving illustrates the pivotal role that philanthropy plays in maintaining and enhancing UConn's reputation for excellence.
"I once heard Phil give a profound speech," McCarthy recalls. "He said, ‘We paid professionals are only passing through the University, but its ultimate direction is determined by alumni and the community.' He was absolutely right about that. It's critical that we maintain the level of quality education that we've now risen to. Phil has put us on the map, but it's up to us to take it to the next level."
To support the Austin chair fund, please contact John Martin, president of the UConn Foundation, at 860.486.2709.
