Last week, UVA Darden announced Sands Capital Management Founder Frank M. Sands Sr.’s new gift of $68 million – the largest gift in the business school’s 64-year history.
Sands, a Darden MBA-holder (class of 1963), says: “The Darden School was a transformational experience for me, and I am an ardent supporter of its mission and values. I am a big believer in lifelong learning, and that learning is enabled by great faculty. I hope this gift will inspire others to give and hope that the school will continue to be a true force for good in the free markets and broader world.”
The impact of the gift
In addition to Sands’ historic gift, the university also issued a $14 million matching fund, delivering total monetary impact of $82 million. The combined efforts will be used towards:
- Sands Institute for Lifelong Learning – A $20 million endowment will be used to promote innovation through the new Sands Institute for Lifelong Learning, catering to degree and non-degree Darden students, both in-person and online.
- Sands Professorship Fund – This fund is comprised of a $21 million donation from Sands plus the school’s $14 million in matching funds and will support 12 new faculty chairs “to bolster excellence and innovation in pedagogy and engagement with practice.”
- UVA Inn at Darden and Conference Center for Lifelong Learning – $20 million will go towards this 199-room hotel, conference center, and 5-acre arboretum.
- C. Ray Smith Alumni Hall – A $7 million fund will enable the renovation of this new building, honoring Dean Emeritus C. Ray Smith who mentored Sands.
According to UVA President Jim Ryan, “Frank M. Sands Sr. and his family are helping propel Darden forward as we enter our third century. This historically generous gift will allow Darden to reach even more students and continue to lead the way in global business education. I am incredibly grateful to Frank and the entire Sands family for their vision and generosity.”
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