$150 Million Gift to Cornell University;

Cornell SC Johnson College of Business Named

Largest Gift in History to Cornell's Ithaca Campus

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Jan 28, 2017, 13:30 ET

RACINE, Wis., Jan. 28, 2017 /PRNewswire/ -- Today, SC Johnson along with Fisk Johnson, Chairman and CEO, announced a combined donation of $150 million to Cornell University, the largest gift ever to Cornell's Ithaca campus and the second largest to name a college of business.

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The donation will support the newly-named Cornell SC Johnson College of Business, which includes the Charles H. Dyson School of Applied Economics and Management, the School of Hotel Administration, and the Samuel Curtis Johnson Graduate School of Management.

"With the newly combined College of Business and the new tech campus in New York City, Cornell is at an important inflection point," said Fisk Johnson. "It is my hope that this gift will give the business program at Cornell significant new impetus for growth, while enhancing its three individual schools and the qualities that make each exceptional. While the naming of the school by Cornell is an honor, this isn't about me or my family. It's about Cornell's future as the country's top business school, and the success of the three highly respected schools that comprise it."

The gift includes a $50 million challenge grant that will build the college's endowment for faculty, students and programs. The challenge is expected to raise an additional $150 million. Combined with the gift by SC Johnson and Fisk Johnson, the challenge will bring the full impact to $300 million, which will bolster the college's endowment.

"Cornell has been part of my family for more than a century. In 1918, my great-grandfather dispatched my grandfather to Cornell after one of the company's products wreaked havoc on the Model T radiators it was designed to protect. So, our very first graduate chemist, my grandfather, attended Cornell, and today Cornell has one of the top business schools where the company regularly recruits many talented graduates," Johnson said.

Another element of the donation is the creation of the SC Johnson Scholars Program. Undergraduate students chosen from the Dyson and Hotel Schools will have the opportunity to participate in various events hosted by the company including summer internships.

"With this gift, we can increase Cornell's competitiveness for top students and fund new interdisciplinary research initiatives in areas such as sustainability and technology," said Hunter Rawlings, interim president of Cornell. "It provides significant and permanent resources for all faculty, students and programs in the College, while supporting the unique strengths and legacies of its individual schools. It is truly a transformative opportunity."

The Johnson family has been committed to Cornell and its mission for generations. Olaf Brauner, father-in-law of Fisk Johnson's grandfather H.F. Johnson Jr., began teaching there in 1896 and founded the Department of Art where he was a professor for more than 40 years. H.F. earned his degree in 1922. His son and daughter-in-law, Sam and Gene Johnson, both graduated from Cornell in the early 1950s. All four of their children attended Cornell, including Curt Johnson, Helen Johnson-Leipold, Fisk Johnson and Winnie Johnson Marquart.

Over the years, the Johnson family has donated repeatedly to the university, including:

The Samuel Curtis Johnson Graduate School of Management
The Imogene Powers Johnson Center for Birds and Biodiversity
The Herbert F. Johnson Museum of Art
Herbert Fisk Johnson Professorship of Industrial Chemistry
Herbert Fisk Johnson Professorship of Urology
Imogene Powers Johnson Senior Scientist
Robert G. Engel Associate Dean and Director of Fraternity and Sorority Affairs
Samuel C. Johnson Chair in Sustainable Global Enterprise in the Johnson School

The naming gift for the Johnson Graduate School of Management has delivered $100 million to-date. When given in 1984, it was the largest ever from individuals to a business school.

Since 1937, SC Johnson has designated 5 percent of pretax dollars for philanthropy. The company is known for its commitment to health, environment, economic development and education. Notably, last year, the company announced a donation of at least $15 million to help protect children and pregnant women against mosquito-borne diseases like Zika.

Education has always been a priority for the company. To name a few:

$12.3 million to create 21^st Century Preparatory School, a K-8 charter school focused on economically-disadvantaged children in Racine, Wis. Last year, this school earned a state report card rating 20 points higher than the local public school district.
$15 million in matched donations to educational institutions by the company and SC Johnson people in the last 20 years.
$10 million in scholarships for SC Johnson people and their families since 1959.
$3.5 million to Gateway Technical College (Racine, Kenosha and Walworth Counties, Wis.) for technical certificate bootcamps and other initiatives for chronically unemployed people.

About SC Johnson
SC Johnson is a family company dedicated to innovative, high-quality products, excellence in the workplace and a long-term commitment to the environment and the communities in which it operates. Based in the USA, the company is one of the world's leading manufacturers of household cleaning products and products for home storage, air care, pest control and shoe care, as well as professional products. It markets such well-known brands as GLADE®, KIWI®, OFF!®, PLEDGE®, RAID®, SCRUBBING BUBBLES®, SHOUT®, WINDEX® and ZIPLOC® in the U.S. and beyond, with brands marketed outside the U.S. including AUTAN®, TANA®, BAMA®, BAYGON®, BRISE®, KABIKILLER®, KLEAR®, MR MUSCLE® and RIDSECT®. The 131-year-old company, which generates $10 billion in sales, employs approximately 13,000 people globally and sells products in virtually every country around the world. www.scjohnson.com

SOURCE SC Johnson