Sussman family commits $12 million for new campus housing
Skidmore College Trustee S. Donald Sussman and his family have committed $12 million to be used as the lead gift in constructing a new residential facility at the College. The gift was announced Friday following the Board of Trustees' fall meeting and brings the College's Creative Thought Bold Promise fundraising campaign to $176 million of its $200-million goal.
Sussman, who joined the board in 2004, is the parent of Skidmore alumna Emily Sussman, who graduated in 2004.
"The Sussman family's commitment speaks volumes about the family's generosity, as well as its vision for Skidmore and for higher education," said Skidmore President Philip A. Glotzbach. "It is a welcome vote of confidence, particularly today as the college and our country face so many challenges. This is a project that we have needed to move forward for some time, and there is no question that we could not even contemplate this undertaking without the family's support. This wonderful commitment from the Sussman family allows us to move forward with planning, as we continue working to interest other donors and develop the additional sources of support that we will need to complete this crucial project," Glotzbach added.
Said Sussman, "Now, more than ever, it is important to show support for those institutions that make a difference in the world. I feel fortunate to be able to demonstrate my belief in the college's mission through this gift. I hope that this new facility will be an important part of student life at Skidmore for many generations to come."
Skidmore has long planned to replace Scribner Village, which was constructed in 1973 and houses 282 students in an assortment of condo-style apartments at the west edge of campus. Plans are currently being developed for a new facility, at an estimated cost of $33 million, which will likely expand the college's campus housing capacity by 100-200 spaces.
Dean of Student Affairs Rochelle Calhoun, who oversees residential life at the 2,400-student college, called the gift "timely and incredibly generous," noting, "Replacing Scribner will not only allow us to retire an aging and costly facility but also to expand our campus housing for upper-class students."
She continued, "We are also hoping that the new facility can be designed to accommodate spaces for health and wellness and to fit within the developmental arc from the traditional, shared residences we assign to first-year students to more autonomous, independent living options for our upper-class students, a process that is practical as well as developmentally sound."
Sussman is the chairman of Trust Asset Management LLP and the founder of the Paloma Funds. He has worked in hedge fund investing for more than 25 years and received a Lifetime Achievement Award from Institutional Investor's Alternative Investment News in 2004.
This gift continues Sussman's longstanding concern with student life at Skidmore as reflected in an earlier gift to create a vegetarian food station, Emily's Garden, in the college's recently renovated Murray-Aikins Dining Hall.
In his work as a Skidmore trustee, Sussman is a member of the board's committees for Advancement, Student Life, and Infrastructure. He is vice chair of both the Budget and Finance Committee and Investment Committee.
Sussman is active on behalf of a number of other organizations, including Carnegie Hall, where he serves on the board of trustees and is a member of the board's executive committee and co-chair of the investment committee; and the University of the Virgin Islands, which he serves as a trustee. He formerly served as deputy chair of the board of governors of the Weizmann Institute of Science and received an honorary doctoral degree from the institute. He also is honorary chairman of the Ethical Culture Fieldston School.
He attended Columbia College and received B.S. and M.B.A. degrees from New York University.
