Paul L. Caron
Dean


Saturday, November 9, 2019

Penn Receives $125 Million Naming Gift, Largest Gift Ever To A Law School

Law.com, Penn Law, With Record-Breaking Donation, Gets New Name:

Penn Law (2020)The University of Pennsylvania Law School has received the single largest donation to a law campus on record and is changing its name in honor of the donor.

The school will now be called the University of Pennsylvania Carey Law School after receiving $125 million from the W.P. Carey Foundation. That tops the $115 million gift James E. Rogers made to the University of Arizona’s law school in 1998 and the $100 million donation from the Pritzker family to Northwestern University Pritzker School of Law in 2015. ...

Naming rights have become an increasingly important avenue for fundraising in legal education. Last month, Pepperdine University’s law school was renamed the Pepperdine University Rick J. Caruso School of Law after it received $50 million from its namesake, who is a Los Angeles-area real estate developer.

The $125 million gift will be spent on these six priorities:

  • Strengthen and expand cross-disciplinary legal studies
  • Increase student financial support and resources
  • Recruit and retain the most preeminent and diverse faculty
  • Continue to grow the diversity and inclusivity of our community
  • Innovate and lead in the transforming legal profession
  • Expand pathways to public service

Media coverage:

https://taxprof.typepad.com/taxprof_blog/2019/11/penn-receives-125-million-naming-gift-largest-gift-ever-to-a-law-school-.html

Legal Ed News, Legal Education | Permalink

Comments

So, now even entire Ivy League professional schools can be effectively bought and re-named. Fascinating. I can't wait for the next logical step, when higher education follows the lead of sports teams' stadiums and begins selling "naming rights": Welcome to "AT&T Duke University School of Law".

Posted by: Rob T. | Nov 9, 2019 7:55:55 AM

Can donors also pay law professors to change their names? Asking for a friend.

These naming rights donations give me hope that prostitution will be legalized just about any day now.

Posted by: Anon | Nov 9, 2019 8:06:21 AM

It won't change their ranking significantly

Posted by: Mike Livingston | Nov 10, 2019 6:14:27 AM

Yeah... in real dollars that $115 million gift in 1998 is worth around $185 million in today's dollars but whatevs.

Posted by: Unemployed Northeastern | Nov 10, 2019 2:01:36 PM

Just imagine what would have happened had Jeffery Epstein bought naming rights to a law school.

Posted by: Bill | Nov 11, 2019 7:32:34 AM

From the "six priorities" that were enumerated, it is quite clear that Penn has no need for this money. They should have just kept the name.

Also, can someone explain to me why "diversity" has become the sole purpose of higher education?

Posted by: JM | Nov 13, 2019 8:22:42 AM

@JM.

Penn law students could certainly use more financial support. The cost of attendance is just shy of $100,000 per year. (I repeat, PER YEAR). Per their latest 509, 47% of the student body pays sticker. Of the 53% that get tuition discounting, the median discount is barely over $20k, meaning they still fork over nearly $80k/year. Heck, the people receiving the 75th percentile tuition discount still have a shortfall north of $60k per year!

Posted by: Unemployed Northeastern | Nov 13, 2019 11:44:03 AM