$1 Million for Undergraduate and Graduate Financial Aid at Sanford Institute

A $1 million gift from Richard B. Lieb T’69 and Kathryn Crommelin Lieb W’69 of Valley Forge, Pa., will fund undergraduate scholarships and graduate fellowships at the Terry Sanford Institute of Public Policy, Duke University President Richard H. Brodhead announced Monday.

The gift qualifies for matching funds from the university’s Financial Aid Initiative Challenge and will establish two financial aid endowments valued at $1 million each.

“Rick and Kathy Lieb understand the importance of financial aid at Duke, and I am grateful to them for their leadership and generosity,” Brodhead said. “Their wonderful contribution creates a permanent resource to support talented students from all financial circumstances.”

In December 2005, Brodhead announced Duke’s Financial Aid Initiative, an effort to raise $300 million in endowed financial aid. A group of donors committed $100 million to match others’ gifts toward the initiative’s goal.

“Neither of us could have attended Duke without the financial aid we received as students,” said Kathryn Lieb. “We made this gift to enable other students to attend Duke and benefit from the kind of educational experience that meant so much to us.”

The Liebs are members of the development committee for Duke’s Financial Aid Initiative and the Sanford Institute’s board of visitors.

Richard Lieb is a retired executive vice president of SEI, an investment and investment processing firm in Oaks, PA, and continues to serve on its board, as well as on the boards of several other public and private organizations. Kathryn Lieb is a former editor and currently volunteers with several community groups. The Liebs have three children.

For more information, contact:
William Conescu | (919) 681-0434 | wconescu@duke.edu

November 28, 2006