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Ubbens commit $20 million for financial aid endowment
DePauw University alumni Timothy H. and Sharon W. Ubben have committed a $20 million gift to the university's endowment to provide financial aid for DePauw students.
The gift was formally accepted by the university's Board of Trustees, which met over the weekend, President Brian W. Casey announced.
"This gift further establishes the remarkable legacy that Tim and Sharon Ubben will leave on this campus," Casey said.
"Their love for this university is clear and their willingness to support its future is humbling," the president added. "I cannot fully express the depth of my gratitude for all that they do, and have done, for DePauw."
The Ubbens' commitment is the latest in a lengthy history of gifts that have provided the foundation for the university's significant commitment to supporting students, which began with the establishment of the Rector endowment and the Rector Scholars Program in 1919.
Gifts such as that have made a DePauw education possible for generations of students who might not otherwise have been able to attend the school.
"This university has been a part of our lives for many years, and it is a privilege to be part of its future," Tim Ubben said. "Sharon and I have always believed that the opportunity to see the impact of your gift is one of the most rewarding experiences, which is why this gift means so much to both of us.
"We have been so impressed with the many DePauw students we have come to know over the years and we believe it is essential that we ensure that all well-qualified students have an opportunity to attend this university," Ubben added.
Timothy H. and Sharon Williams Ubben are 1958 graduates of DePauw. After graduating, Tim Ubben received his MBA from Northwestern University and served in the U.S. Army while Sharon taught school in Elkhart and Tampa, Fla.
Tim Ubben founded Lincoln Capital Management, a Chicago-based investment firm, in 1967. When he retired in 1999 as chairman, Lincoln had more than $50 billion in assets under management. Sharon Ubben owned a tour company, Hearts Desire, from 1983-90.
The couple's many gifts to DePauw have established numerous endowed professorships, in addition to the Timothy and Sharon Ubben Lecture Series.
Designed to "bring the world to Greencastle," the Ubben Series has nearly 100 programs to campus, featuring world leaders such as Bill Clinton, Mikhail Gorbachev, Margaret Thatcher, Shimon Peres, Benazir Bhutto and Tony Blair. Upcoming speakers include Carl Bernstein and Jane Goodall.
Tim Ubben co-chaired DePauw's Board of Trustees from 1998 to 2001 and continues his service as an advisory trustee; he was a member of the Alumni Association Board from 1983-87 and served as chairman from 1985-87; chaired The Campaign for DePauw: Leadership for a New Century; was a member of the presidential search committee in 2007-08; and was awarded DePauw's Old Gold Goblet for "eminence in life's work and service to alma mater" in 1993.
Sharon Ubben served on the Alumni Association Board from 1988-94. In 2012, the Tim and Sharon Ubben were each awarded honorary Doctor of Public Service degrees.
Over the years, the Ubbens have been active in the lives of their community and in supporting important causes, including their alma mater.
Sharon Ubben served as director and president of the University of Chicago Cancer Research Auxiliary Board; as a trustee of the University of Chicago Cancer Research Foundation; and as mentor for the Boys and Girls Club of Collier County, Fla.
Tim Ubben has served on the national board of directors of the Posse Foundation since 2004, founded the Chicago Posse in 1999, and was honored as a "Posse Star" in 2009; as a director of the Boys and Girls Club of Collier County, Fla.; and as director of the Philharmonic Center for the Arts in Naples, Fla.