Notre Dame Announces Historic Gift

Posted: Updated:
Pamela and Kenn Ricci (photo courtesy University of Notre Dame) Pamela and Kenn Ricci (photo courtesy University of Notre Dame)
SOUTH BEND -

The University of Notre Dame has announced the largest contribution of its kind in the school's history. Kenn Ricci, a Notre Dame alumnus who also serves on the board of trustees, and his wife, Pamela, have made a $100 million unrestricted commitment to the university.

Notre Dame says the gift is being managed through a Philanthropic Succession Partnership. The commitment will be fulfilled through lifetime gifts from the couple and completed through proceeds from the sale of business assets held by a Ricci family limited partnership.

"I cannot adequately express my gratitude to my friends, Kenn and Pam, for this bold, innovative gift that will impact generations of our students and strengthen the University’s mission as a truly great, truly Catholic university," said Rev. John Jenkins, president of Notre Dame. "Kenn’s distinguished business career has been characterized by visionary innovation, and we are tremendously fortunate that he brings that visionary leadership to help Notre Dame."

The unrestricted gift will allow the university to provide funding to areas of greatest need at any particular time. Kenn Ricci says the goal of the gift is not just to support Notre Dame, but to "inspire more strategic philanthropic engagement between donors and nonprofit recipients, raise awareness of the value of unrestricted giving and encourage increased donations of unrestricted gifts."

Kenn Ricci is a 1978 graduate of Notre Dame. He is the founder and principal of Ohio-based Directional Aviation Capital, a holding company for several private aviation companies he has either founded or acquired, including Flexjet, Flight Options and Nextant Aerospace.

Ricci was elected to the university's Board of Trustees in May 2016. He and his wife have made previous donations to the university, including a$5 million gift for the construction of an outdoor facility to be used by the Band of the Fighting Irish and the university's RecSports programs.

  • Perspectives

    • Look What's Coming: Tax Reform!

      President Trump and Congress are focused on completing a tax bill prior to year-end. Unfortunately, their timing may require quick action to implement a tax strategy in 2017 that can take advantage of the 2018 changes. What's a taxpayer to do?

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Anderson Losing 'The Nile'

      A Mediterranean restaurant in Anderson that has been around almost 30 years is closing. In a message on Facebook, the owners of The Nile say they will close "for good" December 23. The restaurant, which is run by Angele and Samir Naby opened in 1990, and bills itself as offering "A Journey of Taste." The message from the Nabys reads...

    • Minnesota Company Planning $62M Fort Wayne Investment

      Plans for a nearly $62 million private, mixed-use development have been announced for the Fort Wayne riverfront. The seven-story project will be located next to Promenade Park, which is currently under construction and is one of the signature pieces of the downtown resurgence. Plans from Minnesota-based Continental Property Group include 150 apartments, 20,000 square-feet of retail space and more than 1,000 parking spaces.

    • Pacers Set For 'Major' Esports Announcement

      Pacers Sports & Entertainment is planning to Tuesday make what it calls a major announcement regarding the NBA 2K League. The organization is one of 17 NBA teams taking part in the inaugural season of the esports league, which is set to kick off in 2018.

    • Rose-Hulman Ranks High For Computer Science

      An online publication places Rose-Hulman Institute of Technology among the top schools in the country for computer science majors. Affordable College Online says its rankings are based on the cost of a degree,...
    • The Human Side of Digital Transformation: Dealing With The Monkeys in Your Brain

      "It's not the strongest of the species that survives nor the most intelligent that survives. It's the most adaptable to change," said Charles Darwin. Throughout digital transformation discussions with executives (in and outside of IT), one of the most common conversations is the complexity and challenge surrounding change. Bottom line, change is hard, requires knowing yourself and embracing differences to continue growing your business. Are you ready?