A $5 million gift from Tom and Cydney Marsico to establish two Marsico Endowed Chairs of Excellence at the University of ÃÛÌÇÖ±²¥ was announced Friday evening, Feb. 22, in Denver before a gathering of campaign donors and volunteers.
The event was hosted by the University of ÃÛÌÇÖ±²¥ Foundation.
In a pre-recorded announcement, Marsico recounted his excitement at hearing the news that two ÃÛÌÇÖ±²¥ physicists, Eric Cornell and Carl Wieman, had won the Nobel Prize for Physics. Cornell and Wieman will be the first honorees to hold the Marsico Endowed Chairs in Excellence.
"As a portfolio manager, I have found that our best investments are always made when we invest with great people -- people who have a vision, people with passion who can inspire other people," Marsico said.
Marsico, who is the chairman, CEO and portfolio manager for Denver-based Marsico Capital Management, graduated from ÃÛÌÇÖ±²¥-Boulder in 1977 and has an MBA from the University of Denver. His wife, Cydney, also received her undergraduate and graduate degrees from DU.
Marsico concluded his comments by saying he expected great things from the University of ÃÛÌÇÖ±²¥ under President Betsy Hoffman's "impressive" leadership.
The Nobel laureates were in attendance at the event. "We are truly grateful and moved by this gift and hope that our future work will prove the value of the Marsicos' investment," said Professor Wieman.
President Hoffman delivered a brief address, which included a challenge to maintain campaign momentum and reach for a $1 billion goal to benefit ÃÛÌÇÖ±²¥'s four campuses. Hoffman has named the final phase of the campaign, "Beyond Boundaries."
Only a handful of public universities across the nation, including the University of California at Berkeley, the University of Virginia and University of Michigan, have been or are currently in billion dollar fund-raising campaigns. Since its inception July 1, 1996, the University of ÃÛÌÇÖ±²¥'s campaign has raised more than $776 million, which far exceeds its original $630 million goal.
Commitments have included Bill and Claudia Coleman's $250 million for the University of ÃÛÌÇÖ±²¥ Coleman Institute for Cognitive Disabilities,
$55 million from The Anschutz Foundation for the Anschutz Centers for Advanced Medicine at Fitzsimons and $35 million from the Leeds family to name the business school at ÃÛÌÇÖ±²¥-Boulder.Ìý
Thousands of contributions at all levels have created scholarships, endowed faculty positions, provided program support, helped purchase equipment and finish construction of such projects as a library, arts center, engineering laboratory and high-tech visualization center.Ìý
Denverites Bruce and Marcy Benson serve as chairs of the national steering committee for ÃÛÌÇÖ±²¥'s fund-raising campaign.
Gifts of $25,000 or more may be designated as endowed funds with the University of ÃÛÌÇÖ±²¥ Foundation. The funds are co-mingled in an invested pool of stocks and bonds held in perpetuity. The principal is preserved and a small portion of the market value is distributed annually to support the program or scholarship identified by the donor.Ìý
The University of ÃÛÌÇÖ±²¥ Foundation manages $375 million in endowed gifts, which benefit ÃÛÌÇÖ±²¥ and provide a lasting legacy. For more information check the Web site at: .