Your Lasting Impact

THE COLUMBIA ENDOWMENT YOUR FISCAL YEAR 2018 LASTING IMPACT

giving.columbia.edu COMMITTED TO ACTION

ith a reported investment return of nine percent for “BY DEVELOPING OUR CAMPUSES, the 2018 fiscal year, the value of Columbia University’s FOSTERING INNOVATIVE W endowment has reached a record $10.9 billion. Such sustained growth in the endowment allows the University to PROGRAMS, AND EXPANDING OUR build out its leadership, from discoveries in the classroom and the PRESENCE AROUND THE GLOBE, laboratory to breakthrough projects taking on some of the world’s COLUMBIA HAS SET THE STAGE FOR most urgent and complex challenges. That leadership is made possible by the University’s endowment donors, and we thank you GREATER IMPACT.” again for your lasting impact.

This fall we opened The Forum, a gleaming conference center that investments in people. Endowment gifts ensure that we are growing completes the first set of three buildings on our new Manhattanville in ways beyond just buildings and campuses, that we are not only an campus, all designed by Renzo Piano. With a 437-seat auditorium institution, but a global community sharing a commitment to do more and open design, it is our first-ever building dedicated to academic for our students and the world. conference and public discussion. Like the entire new campus, with its through streets and public spaces, it is designed to connect to Gifts to Columbia’s endowment support some of the world’s most the city and world around us, and to foster ideas that lead to action. talented students and faculty, energized by the promise of a Columbia It’s in the very name. As President Lee C. Bollinger remarked at the that is building for the future. Architect Renzo Piano has said of opening, “a forum also indicates the making of decisions, the making Manhattanville, “This is not like the campus of earlier centuries…it of choices, and a commitment to action.” is a new story.” The University’s endowment donors are helping to write that next chapter. The Forum houses Columbia World Projects, a new institution applying the University’s research knowledge through creative partnerships to address problems on a scale of years, not decades. Sincerely, Columbia World Projects and The Forum are also home to The Obama Foundation Scholars at Columbia University, whose inaugural cohort arrived this fall to further their skills as leaders already transforming their societies around the globe. Amelia J. Alverson Executive Vice President for University Development In recent decades, Columbia has been able to build new structures, and Alumni Relations whether physical or organizational, to carry our mission forward. That progress is in no small part thanks to the generosity and vision of philanthropic partners. By developing our campuses, fostering innovative programs, and expanding our presence around the globe, Columbia has set the stage for greater impact. But, as the stories in this report reflect, we have also grown in less visible ways. Because of the generosity of endowment donors, we can make critical

JEANNETTE M. WING, PHD AVANESSIANS DIRECTOR OF THE DATA SCIENCE INSTITUTE AND PROFESSOR OF COMPUTER SCIENCE COMMITTED TO TRANSFORMATION

hile pursuing a degree in electrical engineering professions, Columbia is ideally positioned to lead and promote this at MIT in the 1970s, Jeannette Wing got her first transformation. W exposure to the then-young field of computer Wing is also a strong advocate of multidisciplinary, collaborative science. “It just blew me away,” she recalls, “specifically lambda research. To this end, she is drawing on more than 300 affiliated calculus, which I found beautiful and elegant and appealed to my faculty in 12 schools at Columbia to expand the Data Science mathematical sensibilities.” Institute’s impact on research and education, from precision Before switching her major, though, she called her father, at the medicine and public policy to the humanities and the arts. “By time a professor of electrical engineering at Columbia. “I wanted working together and across disciplines, we can aspire to achieve his take on whether computer science was just a fad,” she says. “He more than we can by working alone,” she says. assured me it was not, so I went with it and never looked back.” As an example, she cites a group of faculty from several schools After earning her that she has organized to bachelor’s, master’s, work on what she calls and doctoral degrees “THE EMERGING FIELD OF DATA SCIENCE “trustworthy artificial in computer science HAS THE POTENTIAL TO TRANSFORM ALL intelligence.” She explains: from MIT, Wing taught FIELDS OF INQUIRY. WE ARE PROUD TO “The question is, can at Carnegie Mellon we build tools that can University and served ADVANCE THIS INITIATIVE AT COLUMBIA BY automatically determine twice as head of its SUPPORTING JEANNETTE’S LEADERSHIP.” whether a model that renowned computer —ARMEN A. AVANESSIANS has been produced by a science department. machine-learned algorithm Her influential 2006 is fair or not. This would essay, “Computational Thinking,” helped breathe new life into the involve new verification techniques, new specification languages, field. She later held executive positions at the National Science and even formally defining what a given notion of fairness is.” Foundation and Microsoft Research, where she became known for These are the sorts of challenging, nuanced problems Wing embracing bold ideas. believes only an institution like Columbia is prepared to tackle. Wing now serves as the inaugural Avanessians Director “In many ways, data science is where computer science was in the of the Data Science Institute and Professor of Computer 1970s,” she says. “Fortunately, Columbia has been developing a Science at Columbia. Established in 2017 with a gift from Armen foundation for years and has a head start in defining this new field.” A. Avanessians, a 1983 Fu Foundation School of Engineering and As a teenager, Wing once asked her father to explain to her what Applied Science graduate and current University Trustee, and engineering is. He told her that it is applying mathematics to solve his wife Janette, the directorship represents what Wing sees as a real-world problems. That answer, which first sparked her interest once-in-a-lifetime opportunity to help define a new academic field. decades ago, remains central to the value system that drives her Central to that effort is the philosophy of “Data for Good.” work to this day. “At Columbia, we are harnessing the power of data science to “I am a hopeless academic at heart,” says Wing. “Discovering new transform all disciplines, drive exploration, provide insights, and knowledge, teaching the next generation of scholars and leaders, make predictions to inform better decisions,” says Wing. “‘Data doing things that impact society and our communities, while having for Good’ means using that power responsibly and ethically to the freedom to pursue big ideas—it’s exciting. It’s like being an tackle society’s greatest challenges.” She believes that, as a full- entrepreneur all the time.” fledged university with excellence in all fields, disciplines, and

3 COLUMBIA INVESTMENT MANAGEMENT COMPANY (IMC)

he Columbia Investment Management Company (IMC) management arenas, Wall Street, and the corporate sector. On a is a wholly owned subsidiary of Columbia University. The day-to-day basis, the IMC is run by its management team, headed TIMC is charged with managing the bulk of the University’s by the IMC CEO. endowment, known as Managed Assets. Managed Assets do not include the University’s real estate holdings, certain charitable giving The goal of the IMC is to generate attractive long-term risk- vehicles, or a variety of other gifts that have investment restrictions. adjusted returns, subject to the risk and return objectives of the University. The IMC’s approach is long term and not based upon The IMC is governed by a Board consisting of University quarterly or even annual market movements. Therefore, while Trustees, non-Trustee members, the President of the University, the IMC actively manages and evaluates investment strategy and the Executive Vice President for Finance and Information performance on an ongoing basis, meaningful evaluation of its Technology, and the CEO of the IMC. Both Trustee and non- performance and efforts can be made only on a multiyear basis. Trustee members are highly distinguished professionals from a The IMC believes that such an approach is the most reliable variety of financial backgrounds, including various investment manner of generating strong long-term risk-adjusted returns.

CURRENT IMC BOARD

Andrew Barth ’83CC, ’85BUS—Chair, University Trustee Shaiza Rizavi ’96BUS Mark T. Gallogly ’86BUS—Vice Chair, University Trustee V-Nee Yeh ’84LAW Mark E. Kingdon ’71CC—University Trustee Emeritus Lee C. Bollinger ’71LAW—President of the University* Jonathan Lavine ’88CC—University Trustee Anne Sullivan—Executive Vice President for Finance and Information Technology of the University** Larry Lawrence ’69GS, ’71BUS Peter Holland—CEO of Columbia IMC** Alexander Navab ’87CC—University Trustee

*ex officio

**ex officio and nonvoting

4 MANAGING COLUMBIA’S ENDOWMENT HOW IS IT DONE?

olumbia manages almost 100 percent of its endowment assets through one commingled pool. This pool is DISTRIBUTIONS FROM C governed by investment policies approved by the Board of THE ENDOWMENT the Columbia Investment Management Company (see “Columbia Investment Management Company” opposite). Some 5,500 FACULTY AND UNRESTRICTED individual Columbia endowment funds (except those required by RESEARCH law or donor restriction to be maintained separately) are invested by unit and shared in one aggregated body of funds. This enables the University to take advantage of different investment styles and vehicles to provide a higher total return over time while 25% 30% maintaining an acceptable level of risk. In sum, pooling these funds together spreads the benefits of asset diversification among all appropriate endowment funds. 24% 21% The income distributed for programmatic spending from endowment funds is determined by multiplying a lagged market value by the annual spending rate established by the Trustees MULTIPURPOSE/ STUDENT of the University. In Fiscal Year 2018, the actual distributions OTHER SUPPORT from the endowment for ongoing operations, excluding internal management fees, were $503.5 million, effectively 5.5% of Fiscal Unrestricted endowments allow the University flexibility Year 2018 beginning market value. to address the most pressing challenges and opportunities as they arise. Multipurpose/Other endowments include, For more information relating to the University’s among many other priorities, funds for University libraries, prizes, and centers. spending policies, please contact the Office of Strategic Donor Relations and Stewardship at [email protected].

COLUMBIA UNIVERSITY LONG-TERM ENDOWMENT GROWTH (MARKET VALUE AS OF JUNE 30)

Over the past ten years, steady investment performance has helped Columbia’s endowment continue to grow and has ensured the University is well positioned to withstand economic downturns.

2018

5 JELANI COBB, PHD IRA A. LIPMAN PROFESSOR OF JOURNALISM

6 JELANI COBB, PHD IRA A. LIPMAN PROFESSOR OF JOURNALISM COMMITTED TO DEMOCRACY

rowing up in south Queens, Jelani Cobb knew well the Cobb encourages his students and readers to confront America’s stories of his parents, both of whom had fled the racism shortcomings and to address them. G of the Jim Crow South. They taught him to engage with In the classroom, that means bringing social science tools to a ideas and to be diligent about the world around him. new generation of journalists. “I tell my students, if you’re reporting “One of the things my family did for fun was debate,” he recalls. on Congress, you need to know the ins and outs of the Senate “The way some families might enjoy hiking or playing board games, rules,” he says. “If you’re writing about the economy, you need to we delighted in argumentation.” Cobb remembers fondly how his understand all the variables that go into the GDP. So if your subject mother would gather the family around the television to watch 60 involves race or civil rights, you need to approach it with that same Minutes and how he shared her sort of clarity and rigor.” appreciation for Mike Wallace’s In conjunction with his tough interviewing style. “QUESTIONS OF RACE AND CIVIL teaching, Cobb also serves as As Cobb began to learn more RIGHTS ARE DEAD CENTER director of the Ira A. Lipman about history, he says it was Center for Journalism and IN AMERICAN SOCIETY RIGHT like a floodlight switched on, Civil and Human Rights, illuminating the connections NOW. JOURNALISM PLAYS A KEY established in 2017 through between past and present—the ROLE IN SPARKING OUR MORAL an additional gift from Ira Great Migration that brought A. Lipman to support the CONSCIOUSNESS AND GIVING US his parents to New York, the vital role of journalism in changes in immigration law that THE INFORMATION WE NEED TO democracy. “It’s an exciting had shaped the character of his DETERMINE HOW OUR DEMOCRACY time to be doing this work,” neighborhood, the battles around SHOULD FUNCTION.” says Cobb. “Questions of race education, and the development and civil rights are dead center of middle-class communities to —JELANI COBB in American society right now. which African Americans are still They always have been, of trying to gain access. course, but I think we’ve had the luxury of ignoring them in other “History held this explanatory power about my own life,” times that we don’t have today.” Cobb says. “I’ve never stopped being fascinated by it.” That The urgency, says Cobb, stems from the current polarization in fascination comes through in his journalistic writing for The American politics and from the increasing tendency of people to New Yorker, where he covers race, politics, and culture. It also believe only the news they agree with. At the same time, the issues animates his teaching as the inaugural Ira A. Lipman Professor arising around civil and human rights are closely connected to of Journalism at Columbia, a position created in 2010 through a the struggles that defined much of the 20th century. “Journalism gift from Ira A. Lipman, a philanthropist and founder of one of the is one of the most crucial bulwarks of American democracy right world’s most esteemed security services firms, Guardsmark. The now,” he says. “We’ve never had a more pressing need for keen professorship has allowed Cobb to do exactly the kind of work he minds working in the service of an informed public.” has always wanted to do. Cobb says he is most gratified by seeing his students take what “We have this dismissiveness in our society around questions they learn at Columbia and move into their professions. “We get to of race,” Cobb says. “The general disposition is to ‘just be done teach some really talented journalists, people whose reporting will with it.’ In other fields, if we want to be done with something—like help inform discussions and decisions about the kind of society we recessions or disease, for instance—we actually recognize that want to have,” he says. “It’s a responsibility that they and we can the phenomenon exists and work to understand it.” To this end, never take lightly.”

7 ANGELA M. CHRISTIANO, PHD RICHARD AND MILDRED RHODEBECK PROFESSOR OF DERMATOLOGY AND GENETICS AND DEVELOPMENT

8 COMMITTED TO DISCOVERY

hen Angela Christiano arrived at Columbia in 1995, autoimmunity might also have relevance to other diseases such as she had just completed her postdoctoral research cancer. “Cancer is very good at keeping immune cells out,” she says. W in dermatology and was looking for a new research “In autoimmune diseases, the opposite is the case—immune cells direction for her lab. Six months in, her hair began to fall out. The are recruited into organs where they then do damage.” diagnosis: alopecia areata, a genetic autoimmune skin disease that Christiano and researchers from the Columbia University damages hair follicles. Irving Medical Center were able to harness a gene that recruits “At the time, there wasn’t much known about what caused immune cells into the hair follicle in alopecia areata and put it into it,” says Christiano, now the Richard and Mildred Rhodebeck melanoma cells. The results were promising. “By turning that gene Professor of Dermatology and Genetics and Development and back on, we were able to make the cancer vulnerable to the immune one of the world’s leading hair loss researchers. “I remember reeling response,” she says, “and that in turn improved the benefit of cancer between panic and shock, immunotherapy in mouse but as I read more about the models of cancer.” disease, I thought this might “AT THE BEGINNING, RESEARCHING Collaborative, groundbreaking just be the topic I’d been research like this exemplifies A DISEASE IS OFTEN ABOUT looking for.” Columbia’s Precision Medicine She got to work, and in FINDING THE RIGHT QUESTIONS Initiative, the goal of which 2010 her team was the first to TO ASK. GIFTS THAT ALLOW FOR is to spur development of identify the genes involved in individualized, targeted, and THE FREEDOM TO DO THIS KIND OF alopecia areata, a discovery more effective therapies for a that also cleared up an EXPLORATORY WORK—DEVELOPING wide range of diseases. essential misconception about AND TESTING NEW HYPOTHESES— This research is still quite the disease. Their research CAN OPEN THE DOOR TO THE MOST personal for Christiano. showed that alopecia areata “Studying a disease that I suffer shares few, if any, genes REVOLUTIONARY DISCOVERIES.” from firsthand certainly keeps with psoriasis or eczema, as —ANGELA M. CHRISTIANO me focused,” she says, “but what previously thought. Instead, it really motivates me now is what is more closely related to Type I hear from other patients— 1 diabetes, rheumatoid arthritis, and celiac disease. people who can stop wearing a wig for the first time in twenty “That realignment in the understanding of the genetics years, or have hair on their wedding day, or feel confident at a job positioned alopecia areata within a group of diseases that had the interview. This is life changing for them.” benefit of many years of research and drug development,” she says. The first in her family to go to college and graduate school, That meant a newly FDA-approved drug for rheumatoid arthritis Christiano adds that she was drawn to Columbia because of the could be tested quickly in mice and then in human patients with opportunity to work with and mentor students in science and alopecia areata. In human open label studies, the drug led to medicine, particularly young women. significant hair growth in around 65 percent of patients. “There is still a scarcity of senior women in science,” she says. “I “The success of these studies created a lot of excitement and had an early experience in high school working in a research lab, awareness both in the pharmaceutical industry and the patient and it changed my life. So it’s incumbent on those of us in senior community,” says Christiano. “Hopefully, we’ll see drugs approved roles to reach back and help the next generation come forward. You for this disease in the next three to five years.” never know when you’re going to light a fire in someone that’s going Building on their discoveries, Christiano and colleagues to last a lifetime.” wondered whether the lessons they were learning about

9 TYPES OF ENDOWMENT FUNDS

Scholarships, Fellowships, and Internships Endowments strengthen our ability to attract and retain the most talented students, regardless of their ability to pay. Endowed financial support enables Columbia to educate one of the most diverse and selective student bodies among our peers.

Professorships Endowed professorships are a powerful vehicle to recognize and invest in groundbreaking research, exemplary teaching, and faculty leadership, as well as recruit and retain preeminent scholars.

Institutes, Centers, and Programs Columbia’s institutes, centers, and programs foster environments that encourage new areas for interdisciplinary thinking and collaboration and advance innovative research and teaching. Endowed program funds provide ongoing support that allows our faculty, across a range of disciplines, to combine their unique expertise to tackle some of the world’s most pressing challenges.

Visiting Scholars and Lectureships These endowments create opportunities for the University to bring leading scholars and public figures to campus to foster innovative collaboration, further cutting-edge research, enrich the educational experience for students, and enhance the expertise of our faculty.

Unrestricted Endowments Endowments designated to support the general purposes of the University enhance our agility in addressing top priorities and responding to emerging opportunities in curriculum, research, global engagement, and the student experience.

10 ENDOWMENT FUND PERFORMANCE FISCAL YEAR 2018 (JULY 1, 2017–JUNE 30, 2018)

ver the past ten completed fiscal years, the IMC has generated an annualized net return of 8.0% O (after outside manager fees) on the managed assets component of the endowment. This compares to a ten-year annualized return of the MSCI All Country World Equity Index of 5.8% and 3.7% for the Barclays Aggregate Bond Index.

For the five-year period ending June 30, 2018, the total annualized net return (after manager fees) on the managed assets component of the endowment was 9.2%. This compares to an annualized 9.4% return for the MSCI All Country World Equity Index and 2.3% for the Barclays Aggregate Bond Index over the same period. For the one-year period ending June 30, 2018, the total net return (after manager fees) on the managed assets component of the endowment was 9.0%. This compares to a 10.7% return for the MSCI All Country World Equity Index and -0.4% for the Barclays Aggregate Bond Index during the same period. The value of the endowment is affected by returns, spending, and donations. As of June 30, 2018, the value of the endowment stood at $10.9 billion.

The asset allocation as of June 30, 2018, for the managed assets component was: global equities, 23%; private equity, 19%; absolute return strategy funds, 34%; real assets, 19%; fixed income, 3%, and cash, 2%.

11 COACH AL BAGNOLI PATRICIA AND SHEPARD ALEXANDER HEAD COACH OF FOOTBALL COMMITTED TO RESULTS

inning is not about any one big thing, but a made possible by loyal Lions fans Shepard ’21CC and Patricia combination of little things. This is the philosophy Alexander, who included Columbia Athletics in their estate W of Al Bagnoli, Patricia and Shepard Alexander plans. During their lifetime, the Alexanders were honored Head Coach of Football at Columbia. So when he took the reins by the University as members of the 1754 Society, which of the Lions in 2015, he started chipping away at the little things. recognizes generous donors who support Columbia through The results have been astounding. planned gifts. The endowed position their bequest made His first season, the Lions broke a 23-game losing streak. The possible is a step toward staying competitive with peer athletic next season, they won three of ten games. In 2017, they won departments, where such support is the norm. eight of ten, tying for second Then there is Bagnoli place in the Ivy League. To put himself and his drive to teach “THE IVY LEAGUE, COLUMBIA, AND this success in context, in the and compete. Before coming four seasons prior to Bagnoli’s OUR STUDENT-ATHLETES REPRESENT to Columbia, he served for arrival, the team had won a total TO ME THE VERY BEST OF COLLEGE 23 years as head football of only four games. ATHLETICS. TO BE PART OF THAT coach at the University of “It’s been a whirlwind,” says Pennsylvania, where he Bagnoli, who was named Ivy KIND OF EXCELLENCE HAS BEEN guided that program to nine League Coach of the Year in TREMENDOUSLY GRATIFYING.” Ivy League titles. He then 2017. “We’ll continue to be a —AL BAGNOLI moved into an administrative work in progress, but I think role, where he lasted, by his people can see the strides we’ve made from lots of different count, exactly 92 days. He says stepping away from coaching perspectives—win-loss record, player retention, recruitment, rekindled his appreciation for the competition and conflict, alumni involvement.” the highs and lows, and for what it means to represent a great To understand what has gone into this transformation, one institution on the field. has to look at those “little” things. Take recruitment: Bagnoli “I don’t take the opportunity to coach for granted,” he says. has made sure that everyone on his staff understands the “There are so many impressive players and such creativity in this academic performance, financial aid, and the personal habits league, and it’s better now than it has ever been.” and characteristics that make a student a good fit for both the Now with more than 250 career wins under his belt, Bagnoli University and the team. “We’re looking for young men who can reflect on his career from a vantage point few others ever want to compete and get better,” he says. “I have so much attain. “I was fortunate to start my head coaching career early,” respect for what they have to accomplish even to be accepted to he says. “Coincidentally, the athletic director who gave me my Columbia, and then once they get here, all they have to do to be first head coaching opportunity at the tender age of 28 was a successful in the classroom and on the field. Our job is to help Columbia graduate, so I owe a lot to this tradition.” them grow into their potential.” On that note, and with a game to prepare for, Bagnoli turns his Of course, there are some not-so-little things as well that attention to the task at hand. “Fans get to enjoy things a lot longer,” have helped Bagnoli focus on revamping the program. One of he says. “Coaches don’t have that luxury. We always have to worry those is his endowed head coachship, the first-ever endowed about the upcoming opponent and keeping our players focused. position in Columbia Athletics. The endowed position was No matter what, you’ve got to be ready for what lies ahead.”

13 JACINTA JAMES ’19BUS LEON G. COOPERMAN SCHOLAR

14 COMMITTED TO OPPORTUNITY

acinta James ’19BUS grew up in the Bronx, a daughter of Leon ’67BUS and Toby Cooperman in 2000, this award supports immigrants. Her father worked construction; her mother, Columbia Business School students who attended New York City J nights, as a nursing assistant, sacrificing sleep to be public schools. Leon is founder, chairman, and CEO of Omega available for her children during the day. They were intent on Advisors and a member of Columbia Business School’s Board giving her and her brother opportunities that they themselves of Overseers. In 2007, the couple also established the Leon G. never had—piano, swimming, track and field. Keeping their Cooperman ’67 Scholarship Challenge to incentivize others children focused on school and activities had the added benefit to make scholarship gifts, leading to the creation of 40 new, of keeping them out of trouble. endowed scholarships. Few of James’s childhood “To have people who came friends went on to college, yet “TOBY AND I ARE COMMITTED TO from the same environment, who for her, attending was never a HELPING STUDENTS GET A GREAT know the strife and the journey, question. She was driven and EDUCATION SO THEY CAN DO support my education has meant wanted to make her parents a lot to me,” she says. “They have proud. Her mother insisted WHAT THEY LOVE. WE HOPE OUR given back so that I can be an she go into medicine, but after GIFTS INSPIRE GENEROSITY IN example to others.” taking freshman biology, James OTHERS AS WELL.” For years, James has welcomed switched her major to finance. the chance to be that example, —LEON G. COOPERMAN To make ends meet, she worked dedicated to the idea of “lifting any job she could, even staying as you climb.” At Columbia, she on campus during the summers to drive the campus shuttle bus is active in the Black Business Students Association and other while her friends were in the city doing internships and building student-led groups, and she serves as both a career fellow and their networks. peer adviser, helping guide and support first-year students. Graduating at the depth of the financial crisis, James was At the same time, she remains focused on her goals. One relieved to get a few job offers. She chose a job in advisory semester, she interned at a startup that creates footwear for consulting, which offered the security and clear path her parents women of color, an experience she says helped her better valued so highly. For four years, she worked across multiple understand both the startup world and the importance of industries, traveled extensively, and rose through the ranks. Still, delivering products people really need and want. This past something was missing. summer, she interned at Nike, which she says was a perfect fit, “I longed to be in an industry I was passionate about,” she says, given her lifelong interest in sports and business. She recently “to one day help lead a large brand or possibly create something of accepted an offer to work there full time after graduation. my own.” So she followed her heart to the retail apparel industry, While James was at Nike for the summer, her mother flew and a few years later, to Columbia Business School. out to Oregon for a visit. As they walked the company’s campus Pursuing an MBA when she did took courage, as did committing together, James could sense her mother’s pride. “My mom has this to Columbia by applying for early decision. “I was supporting stoic Caribbean nature, so she’s not going to say it,” she says, “but myself, and my parents were approaching retirement,” she says. I can tell there’s no doubt in her mind about where I can go. I am “Columbia was exactly where I wanted to be, but I knew that so grateful for the sacrifices she and my dad made, and glad I can without scholarships, I simply wouldn’t be able to go. It was a show them now that their hard work has paid off.” huge leap of faith.” Ultimately, she received the funding she needed, including the Leon G. Cooperman Scholarship. Established with a gift from

COMMITTED TO ACTION

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