- The New York University’s Stern School of Business announced that it received a $5 million gift from Liz Elting, which is the single largest gift from a self-made woman in the history of the school
The New York University’s Stern School of Business recently announced that it received a $5 million gift from alumna Liz Elting (MBA ’92), which is the single largest gift from a self-made woman in the school’s history. Through the donation, Elting is aiming to champion the next-generation of talented and entrepreneurial women affiliated with her alma mater, which aligns with the goals of the Elizabeth Elting Foundation.
Prior to launching the Elizabeth Elting Foundation, she launched a multi-million dollar global translation business company called TransPerfect starting out of her dorm room at NYU in 1992. Last year, TransPerfect hit $705 million in revenue. And effective on October 1, Elting is going to join NYU Stern’s Board of Overseers.
“Liz is a self-made entrepreneurial success story and a tireless advocate for women,” said NYU Stern dean Raghu Sundaram. “She is a superb role model for aspiring entrepreneurs and exemplifies how business and philanthropy need not be mutually exclusive, but rather mutually reinforcing. We are so grateful to Liz for her support of Stern through a meaningful commitment that inextricably links her with innovation at the School.”
Over the next 10 years, the gift will be used to support 40 female MBA students who demonstrate extraordinary academic merit and strong leadership experience through the new Elizabeth Elting Women’s Leadership Fellowship. And it will provide seed capital to an additional 20 women-led businesses through the Elizabeth Elting Venture Fund in association with the School’s Endless Frontier Labs program, which is designed for helping the most promising early-stage science- and technology-based startups from around the world scale. Plus it will be used for a large-scale convening space for classes, lectures, and guest speakers in the graduate building will be named The Elizabeth Elting Lecture Hall in recognition of Elting’s significant commitment.
“Starting my own business is the best and most rewarding decision I ever made for my life,” explained Elting. “It gave me the resources I needed to provide for my family and influence the world for the better. That’s why I’m so excited to provide this gift to NYU Stern. This money will not only make Stern accessible to a greater number of ambitious young women eager to create their own futures, but will also help the best and brightest launch new enterprises and carry out visions that could transform the world. As an NYU Stern alumna that has received so much from this school, I wanted to give back and do my part in lifting up the next generation of forward-thinking women leaders.”
Earlier this year, NYU Stern honored Elting at its annual Haskins Giving Society Award Dinner with an award named after Stern’s founding dean Charles Waldo Haskins.