FIT given $10 million
By Furniture Today Staff -- Furniture Today, October 14, 2001
NEW YORK — The Fashion Institute of Technology here has received a $10 million gift from retired Kohl executive Jay H. Baker and his wife, Patty.
The college plans to change the name of its School of Business and Technology to the Patty and Jay H. Baker School of Business and Technology.
The gift is the largest single contribution in FIT history — 10 times larger than any previous gift. It is also the largest gift to a community college of the State University of New York system.
"We are extremely grateful to Patty and Jay," said Dr. Joyce F. Brown, president of FIT. "Their gift is transformational for FIT. It will assist students directly with scholarship support and allow us to begin our first major building project in more than 25 years."
Of the $10 million gift, $8 million will close out the first phase of the college's 10-year, $15 million capital campaign. The remaining $2 million will fund an endowment for 40 full-tuition scholarships every year.
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