News Summary
The University of Massachusetts Amherst has announced a transformational donation of $50 million from former Apple executive Daniel J. Riccio. This significant contribution, the largest in the university’s history, will enhance the College of Engineering and support scholarships, faculty recruitment, and research innovation. Riccio’s gift represents a pivotal moment for UMass Amherst, as it commits to matching the donation with $25 million of its own resources, aiming to elevate education and research capabilities.
Amherst, MA – The University of Massachusetts Amherst is poised to enhance its educational and research capabilities significantly with a historic donation of $50 million over the next decade from former Apple executive Daniel J. Riccio. This contribution marks the largest private donation in the university’s history and will designate the College of Engineering as the Daniel J. Riccio Jr. College of Engineering in his honor.
The considerable donation will facilitate the establishment of partnerships across various university sectors and is part of a broader initiative to bolster UMass Amherst’s engineering programs. In addition to the engineering college, Riccio’s donation will provide resources and support for different collaborative efforts within the university.
This transformative donation includes a permanent endowment of $40 million that will be utilized in several key areas: $10 million will be earmarked for undergraduate scholarships, $5 million will be allocated for graduate fellowships, $12 million will support the recruitment and retention of eight faculty members, $5 million is designated to fund a deanship, $3 million will finance a chair in biomedical engineering, and $5 million will establish a research innovation fund aimed at fostering interdisciplinary collaboration.
Moreover, a catalyst fund worth an additional $10 million will be established to provide flexible support for the college’s evolving priorities. These may include innovative research endeavors that intersect technology and health in partnership with UMass Chan Medical School, the development of a design curriculum in collaboration with the College of Humanities and Fine Arts, and the establishment of an engineering leadership program linking with the Isenberg School of Management.
Daniel Riccio, a UMass alumnus who graduated in 1986 with a degree in mechanical engineering, recently retired from Apple after a notable 26-year career, during which he was integral to the development of widely recognized products such as the iMac, iPhone, and iPad. His commitment to education and research extends beyond the engineering college, as he previously pledged an additional $15 million in 2022 specifically for ALS and neuroscience research at UMass Chan Medical School.
In acknowledgment of this generous gift, UMass Amherst Chancellor Javier Reyes expressed immense gratitude, emphasizing that Riccio’s donation is a transformational contribution that not only honors the legacy of a successful alumnus but also strengthens the university’s potential for positive impact. Massachusetts Governor Maura Healey also noted that this donation signifies a substantial leap forward in UMass’s capabilities in research and innovation.
To further amplify the impact of Riccio’s generosity, UMass Amherst has committed to investing $25 million of institutional resources to match his donation. This strategic investment is designed to ensure that the benefits of Riccio’s contribution are maximized to support the university’s mission of excellence in education and research.
The significance of this donation reflects a broader trend in higher education, where private investments are increasingly seen as vital to enhancing institutional capabilities in a competitive academic landscape. As UMass Amherst embarks on this transformative journey, the university community eagerly anticipates the advancements that will emerge from Riccio’s commitment to education and innovation.
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