Penn Trustee George Weiss gave University President Amy Gutmann a very unexpected gift last Thursday night -- $14 million.
At the annual University-sponsored dinner for scholarship donors and recipients, Weiss, a 1965 Wharton graduate and namesake of the Weiss Tech House, presented Gutmann with an envelope that read, "Have a nice day, Amy."
Inside was a check for $14 million, to be used for financial aid.
"It really speaks for itself. ... It's really the greatest leadership gift that George Weiss could possibly give," Gutmann said. "It is a ringing endorsement of how important financial aid is."
Weiss said he had promised Gutmann that Penn's football team would beat Princeton University at Homecoming the previous weekend. But since the team lost, he has made the donation to compensate her.
And according to Gutmann, the gift was just as much of a surprise as Weiss had hoped.
"I had to use every bit of my will power not to just burst out and cry," Gutmann said. "It was the greatest surprise in my life to date."
When Weiss announced his donation, the 600-person audience at the Inn at Penn erupted into applause.
"I always kid [Gutmann] and say she looks like a cheerleader and she acts like a cheerleader," Weiss said. When he presented the check, "she was jumping up and down. She was very excited."
Weiss is no novice when it comes to educational philanthropy.
He founded and endowed the Say Yes to Education program, which offers selected inner-city students college scholarships, as well as tutoring and guidance.
Weiss decided to make his recent donation after being convinced by a friend last Wednesday night when they met for dinner in New York City. The choice was so spontaneous, he said, that he did not even have a check on hand -- he had to have one shipped from home so he could write out the $14 million gift.
Now, Weiss has challenged 100 donors to give $2 million each to endow financial-aid scholarships at Penn.
As one of the trustees leading the University's upcoming capital campaign -- which is currently in its "quiet phase" but will officially kick off in the next two years -- Weiss wants to raise $400 million in the next six or seven years.
"When George Weiss [donates] so early on, before we're actually in the campaign ... it says that we all have the same vision," Gutmann said.
Improving Penn's student financial-aid packages is one of the three main priorities Gutmann put forth in her inauguration address one year ago.
Weiss said that Gutmann's goal is one that resonates with many donors, which is why he is so optimistic about the upcoming capital campaign.
"I'm saying to myself, 'Why don't I really step up to the plate?'" Weiss said. "I think the greatest gift you can give is to give to others. ... To me, that's a much greater gift than having your name on a building."
