BALTIMORE (AP) — A University of Baltimore alumnus has donated a record $5 million for the school to establish a scholarship fund for students needing financial assistance to complete their degrees.
The university announced the gift from retired commercial real estate developer Samuel G. Rose on Monday. The fund is set to help undergraduate students who may not otherwise be able to complete their degrees afford tuition, officials said in a statement.
The donation marked the largest cash gift from a single donor to the school’s endowment, university President Kurt L. Schmoke said.
Rose, 84, grew up in Northwest Baltimore and graduated from the University of Baltimore's law school in 1962.
“Sam wants to help undergraduates who are lower-income like he was growing up," The Baltimore Sun quoted Schmoke as saying.
The money for the new scholarship fund came from the sale of two artworks from Rose’s personal collection, the university said. The donor sold paintings by acclaimed Black artists Jacob Lawrence and Romare Bearden to the Lucas Museum of Narrative Art. The Los Angeles gallery is currently under construction and was founded by Star Wars creator George Lucas.
Rose previously donated $1.2 million to the university for an emergency fund for students pursuing degrees during the pandemic.