Loeb Family Pledges $75 Million to University

The University announced today that the Loeb family has made a $70.5 million gift, the largest donation to Harvard ever from a living benefactor and the ninth largest in the history of higher education.

More than half the gift, which was made by John L. Loeb '24 and Frances L. Loeb, is designated for Harvard College.

Other groups benefiting from the gift include the Graduate School of Design (GSD), the School of Public Health (SPH), the Loeb Drama Center and Memorial Church.

"My reaction is it's incredible...a sense of something quite remarkable," President Neil L. Rudenstine said in a phone interview yesterday.

"On one level it speaks to two people who have thought a lot about philanthropy and society's needs and decided education was central to them," he said. "They decided to invest their resources in the highest quality investment that they knew would last indefinitely."


In recognition of the gift, 17 Quincy Street--the official home of University Presidents until 1971 and the present offices of the University's governing boards--will be renamed the John Langeloth and Frances Lehman Loeb House.

This gift raised the total to date in the University's on-going $2.1 billion fund-drive to $861.5 million. The University has raised approximately $200 million since last year's May 13 kick-off.

Rudenstine said he hopes this gift will encourage other people to consider giving large gifts to the capital campaign. The campaign needs four $50 million plus gifts in order to succeed, according to the projected gift break-down from its announcement brochure. This is the first such gift it has received.

Paul M. Weissman '52, head of the Harvard College Fund, said this gift puts the Faculty of Arts and Sciences at about $350 million towards its total campaign goal of $965 million.

"John and Frances Loeb have made a magnificent statement of confidence in the catalytic effect of supporting undergraduate education in Harvard College," said Dean of FAS Jeremy R. Knowles in a fax to

Who gets the Money

The Loeb's record $70.5 million gift will go to five different parts of the University. $ 39.2 million  Faculty of Arts and Sciences $ 17.2 million  Harvard Graduate School of Design $ 11.8 million  Harvard School of Public Health $ 1.5 million  Loeb Drama Center $ 0.8 million  Memorial Church

Source: Harvard News Office The Crimson yesterday.

"I think it's very exciting," Weissman said ina telephone interview yesterday. "I think this isa marvelous example they're setting for all alumniat Harvard."

William H. Boardman, associate director ofdevelopment for capital giving, said thediscussions began as long as two-and-a-half tothree years ago with some preliminary ideas aboutwhat the Loeb's wanted to do with their estate.

"We knew the relevant size of the gift morethan a year ago and the kind of general areaswhere it was divided. He wanted to talk with thedeans and the president [about his ideas and theirpriorities]," Boardman said.