The Power of Financial Support
Simon Chin Lee with President Thompson
It has oft been said that the pandemic does not discriminate in relation to who is impacted. But this sentiment is especially true for students and families who have carried an increased financial burden over the last year.
Whether a sudden layoff made buying books harder, hospital bills took away savings that were reserved for room and board, or the sudden need for a scholarship meant the difference between going to college or not, the power of donors and financial support for our students was underscored this past year.
“COVID-19 turned everything upside down. I was still living on campus, so I acutely felt the real-world and college impact at the same time. My co-op was considered essential since [my company] produces medical devices and I was able to continue working from home. Wentworth quickly found new ways for students to connect with staff and faculty. I find myself grateful that my professors were able to guide us from afar. Your gift to Wentworth this year demonstrated your commitment to my education. When the world around me felt so uncertain, you had my back and didn’t give up on me.”
-Simon Chin Lee, Mechanical Engineering ’21, ROTC cadet and a US Army veteran
Schumann Cares
Douglas D. Schumann has been woven into Wentworth’s fiber for some time now. An Aircraft Maintenance graduate in 1964 and honorary degree recipient in 2008, he joined the Board of Trustees in 1989 and has been a Trustee Emeritus since 1999.
But it is Schumann’s philanthropy for which he is perhaps best known. The Douglas D. Schumann Library & Learning Commons, as well as the Schumann Fitness Center, are both thanks to his efforts. When Wentworth students needed the most help, he once again stepped in, making a leading gift of $500,000 to the Wentworth Cares Fund and challenging others to contribute.
The Fund was established as a way to respond to student needs during the pandemic. Gifts have gone directly toward helping relocate students during lockdown; refunding student costs for housing, board, and auxiliary expenses not used; providing work-study stipends to students working for the university; and providing care, counseling, and academic advising to students, among other measures.
ISAIAH, Mechanical Engineering ’23
“This past year, as members of the Costume Club, we developed our passions for design and worked with our classmates in the Makerspace to create.”
TESSA, Business Management ’21
“Because of your support, our class sizes were able to remain small and I was able to work closely with my professor, and my Group Processes and Teambuilding class on a project focused on Facilities Management for the Women’s Council. It was so nice to be back together with my classmates and working toward a common goal.”
Campaign Helps Create New Scholarships
Money alone should never be a barrier to an education.
This idea is the root of the $10 million Advancing Student Access and Potential (ASAP) Scholarship Matching Challenge, a campaign spearheaded by President Mark Thompson that increases the amount of permanent financial aid available to students.
Through the ASAP Challenge, Wentworth takes $5 million of unrestricted earnings from its endowment to match, dollar for dollar, the creation of new endowed scholarships of $25,000 or more, or gifts of $25,000 or more to existing scholarships, thereby doubling their value and impact.
Between the start of the challenge last year and the end of the fiscal year on June 30, $4,858,142 was raised for the challenge.
Dan Flatley—a longtime Wentworth benefactor and a trustee of The Flatley Foundation, a family philanthropic organization supporting a variety of causes—has served as the lead donor thus far. In FY20 he made a $1.75 million gift for the Flatley Discovery Fund, a needs-based scholarship for first-year students majoring in Biomedical Engineering, Biological Engineering, or applied sciences.
Alan Fournier is another longtime supporter of Wentworth and its students. He contributed to the ASAP Challenge by making a gift of $500,000 for the Fournier Family Scholarship Fund. The scholarship is awarded to Boston residents and students from KIPP Academy Massachusetts Public Charter Schools.
ALEXANDRIA, Biomedical Engineering ’21
“Soccer has always been a huge part of my life, and, thanks to your support, I was able to spend my senior season with my best friends, teammates, and the Athletics staff.”
JACK, Architecture ’22
“Because of donors like you, I was able to focus more on my academics and less on how I was going to afford tuition. It means so much to me to know you have a vested interest in my success as a student.”
The Challenge also drew several first-time Wentworth donors, including The Architectural Team (TAT) and Jay Cashman, Inc.
TAT—a leading planner and designer of multifamily housing—created The Architectural Team Endowed Scholarship through a $25,000 gift. This need-based scholarship for students pursuing degrees in Wentworth’s School of Architecture & Design intends to build a pipeline into professional practice for underrepresented students in the Boston area, directly addressing critical issues of access that have long challenged the design world.
“As we look to the future, supporting the talent and energy of tomorrow’s designers at all stages of their journey, from education into practice, is one of the best ways to ensure that our field will continue to push the envelope in addressing crucial issues ranging from affordable housing to coastal resiliency and sustainable building practices,” said Senior Partner and Managing Principal Michael D. Binette, who joined TAT in 1982 as a co-op student and later graduated from Wentworth’s Architecture program in 1986.
Jay Cashman shares a similar philosophy when it comes to helping students achieve. The founder and chair of Cashman—one of the preeminent contractors and developers in heavy civil/marine construction, dredging, renewable energy, LNG/concrete tank design, project development, barge/equipment leasing, and mechanical construction industries—made a $50,000 gift to establish the Cashman Education Fund for Wentworth students.
“Investing in the future means investing in young, thriving students now. It is our mission as a family and as a community member to do all that we can to support the people who will shape the next generation of talent in our area,” said Cashman. “Wentworth is making significant contributions to the Bay State by challenging students to reach their highest potential.”
PETER, Computer Engineering ’21
“We’re proud to be able to get back on the court and play sports as Leopards.”
SAGE, Biomedical Engineering ’21
“The endowed scholarships I have received have greatly enhanced my time at Wentworth. They decrease the amount I need to borrow, so I can focus on my studies rather than worrying about money. It’s a huge burden that has been lifted off my shoulders, and I feel even more supported and encouraged to succeed here.”
For more information about the impact of financial aid, please contact Crate Herbert, Vice President of Institutional Advancement, by phone at (617) 989-5351 or by email to herbertc1@wit.edu.