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Summer 2003

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The Campaign for Villanova received a gift that is significant both for what it means to the education of individual students and for what it says about the growing support among all members of the Villanova community for The Campaign.

Thanks to a gift of $100,000 from Stephen A. Stumpf, Ph.D., dean of the College of Commerce and Finance, and his wife Maria, students will soon participate in real-world securities trading as part of their academic coursework. The gift will establish a student-managed fund that will use a socially responsible investment (SRI) approach and will be known as the Arnone Lerer SRI Fund, named in memory of two dedicated educators—Eugene Arnone, father of Maria Arnone, Stumpf and Lawrence Lerer, a mentor and friend of Dean Stumpf’s.

In speaking of the Fund’s goals, Stumpf said, “Our choice of a student-managed fund is based on our commitment to experiential learning. Our choice of SRI reflects our values and a concern for the long-term viability of our global economy.

“I believe that the opportunity to analyze information and make investment decisions with real money on a real-time basis will be a great learning experience. This is one of the many ways that the College is preparing its students to find better than entry-level positions upon graduating.”

Students who are taking upper-level courses will make all decisions, with oversight by their faculty and a member of the Advisory Council of the recently established Center for Responsible Leadership and Governance. Profits will initially be reinvested in the Fund until it grows to $200,000 and will then help support the Center, which encourages an ethical approach to governance that is in keeping with the Fund’s SRI approach and the University’s values-based education.

The SRI approach uses both financial and non-financial criteria to determine portfolio selection and allocation. Studies comparing SRI funds to relevant benchmarks have shown equivalent risk-adjusted returns and less volatility.

John R. Johannes, Ph.D., vice president for Academic Affairs, noting the significance of the Stumpfs’ gift, said, “This gift not only enriches the educational experience, but also demonstrates the commitment of the University’s academic leadership to The Campaign for Villanova. As the new college-based distributive fundraising model reaches out to more alumni, parents, and friends, such commitments add a new level of credibility and demonstrate that The Campaign represents a shared vision of educational excellence.”