UNIVERSITY PARK, Pa. — The transformational gift of Penn State alumnus James Simpson will lift up generations of talented and hardworking undergraduate and graduate students in the College of the Liberal Arts. When fully funded, his gift of nearly $5 million for scholarships will support more than 40 students each year with awards of $5,000 each.
“Jim was a dedicated supporter of the college for many years, and we were very sad to lose him over a year ago,” said Susan Welch, the Susan Welch Dean of the College of the Liberal Arts. “However, his generosity will continue to elevate the lives of our students for decades to come. The college has students at all levels of financial need, particularly in the middle, the ones who typically would fall through the cracks. Jim’s scholarship will provide crucial support as they complete their degrees.”
The Simpson-Marcher-Petersen Scholarships will be among the University’s largest in terms of dollar amount and number of student recipients. The new scholarship also allows the college to support undergraduate or graduate students, providing flexibility in a given year.
Simpson graduated from Penn State in 1949 with a bachelor's degree in recreation from the predecessor of today's College of Health and Human Development. As a student, he had the honor of giving a campus tour to U.S. President Dwight Eisenhower.
In 1951, Simpson joined RCA Corporation in the human resources department and spent 23 years serving in several executive positions. In 1975, he decided to pursue commercial real estate and investment ventures. He also established a venture capitalist partnership with several associates, funding a number of small business start-ups, and serving as a consultant to several of these companies during their early development stage.
“Jim always appreciated his Penn State education and experiences,” said Charlie Greer, trustee of the Simpson estate and a close family friend. “He was concerned about the future of our youth, and he enjoyed supporting young people who need opportunities and mentoring in their formative years.”
Charlie noted that Simpson grew up in the Depression with several brothers, and his family experienced economic hardships. He also supported The Boys and Girls Clubs of America, which provide programs and services to promote the well-being of at-risk youth.
Earlier, Simpson created the initial Simpson-Marcher-Petersen Scholarship for students with financial need and a director’s fund in the Paterno Fellows Program. He also supported the Rock Ethics Institute and a graduate endowment. In 2009, the college bestowed the Sparks Centennial Medalist Award upon him during its Centennial celebration. The award recognizes friends of the college who have provided significant leadership through their involvement and support of the college’s programs.
Private gifts from alumni and friends enrich the experiences of students both in and out of the classroom; expand the research and teaching capacity of faculty; enhance the University’s ability to recruit and retain top students and faculty; and help to ensure that students from every economic background have access to a Penn State education. Penn State’s third and most ambitious University-wide fundraising campaign, For the Future: The Campaign for Penn State Students, concluded on June, 30, 2014, with a total of $2.188 billion. The University’s colleges and campuses are now enlisting the support of alumni and friends to advance a range of unit-specific initiatives.