In Hoboken: Stevens Institute Gets $15M, Record-Setting Donation

HOBOKEN, NJ — “Underrepresented” engineering students will get a boost at Stevens Institute of Technology in Hoboken thanks to a $15 million endowment from the A. James and Alice B. Clark Foundation, the largest endowed scholarship gift in the school's history.

The university announced the record-setting donation and the creation of the “A. James Clark Scholars Program” on Wednesday.

The $15 million donation will “provide financial support and enhanced learning opportunities for exceptional undergraduate students who are underrepresented in the engineering field,” Stevens Institute administrators stated.

Learn more here.

According to the university:

“The gift honors the legacy of the late A. James Clark, a noted engineer, philanthropist and president of the Maryland-based Clark Construction Group LLC, one of the nation’s leading privately-held construction companies. Through dedication and tenacity, Mr. Clark grew a local construction company into a national success, but he never forgot that his business success began with an engineering scholarship. This has guided the Clark family’s longstanding investments in engineering education that continues in his name today. As part of its commitment to build a pipeline of future engineers, the Clark Foundation has partnered with some of the nation’s foremost engineering institutions to financially support promising engineering students.”

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Photo: A. James and Alice B. Clark Foundation