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February 13, 2002
Feinberg
Gifts Total $103 Million; Medical School Gets New Name
CHICAGO --- Northwestern
University has received gifts totaling more than $103 million from
the Joseph and Bessie Feinberg Foundation, a Chicago philanthropic
organization, including a new gift of $75 million. Northwestern
will name its medical school the Feinberg School of Medicine, University
officials announced today.
Northwestern will name
the school in honor of the Feinberg Foundation, which was created
by four brothers: Bernard, Louis, Reuben and Samuel Feinberg. The
foundation’s president, Reuben Feinberg, is a leader in Chicago-area
real estate, banking and philanthropy arenas. Northwestern’s
Board of Trustees unanimously approved the new name at a board meeting
Saturday.
The $75 million gift
is the largest single donation to a Chicago-area university, according
to a list of major gifts compiled by The Chronicle of Higher Education.
The funds will be designated for the medical school’s endowment
and will be used to help support teaching and research.
Northwestern University
President Henry S. Bienen said, "The Foundation and Reuben
Feinberg have been loyal and generous supporters of Northwestern
University and its medical school for more than a decade. The University
is extremely pleased to receive this magnificent donation and extends
its appreciation to Mr. Feinberg and the Feinberg Foundation."
The foundation has been
a major contributor to Northwestern, donating more than $28.5 million
in recent years to create the Feinberg Cardiovascular Research Institute,
the Louis Feinberg M.D. Chair in Ophthalmology and the Frances Evelyn
Feinberg Clinical Neurosciences Institute.
"These monumental
gifts will help transform medical education and research at Northwestern,"
said Dr. Lewis Landsberg, dean of the medical school and University
vice president for medical affairs. "Both the teaching and
research missions of the medical school will be enhanced significantly
as the result of these generous gifts from the Feinberg Foundation."
Reuben Feinberg is the
former president of the Jefferson State Bank in Chicago and presently
vice chairman of the board of Parkway Bank and Trust, Harwood Heights.
He has been president of the Feinberg Foundation since its inception
in 1969. In 1996 he received an honorary Doctor of Laws degree from
Northwestern.
Established in 1969
and solely supported by the four Feinberg brothers, the Joseph and
Bessie Feinberg Foundation was created to honor the memory of their
parents through contributions to religious, charitable and educational
activities. The family, involved in real estate development in and
near Chicago’s Loop, was a pioneer developer of the West Loop
as well as other shopping centers and office buildings.
"I am very pleased
to make this gift to Northwestern and the medical school,"
said Reuben Feinberg. "The work done by the medical school
in research and teaching is critically important to the future of
health care, both in the Chicago area and nationally. I know that
my brothers who helped create the foundation would be honored, as
I am, to have our name associated with the Northwestern University
Medical School."
Mr. Feinberg’s
initial interest in medical philanthropy began in 1987 when he was
a patient at Northwestern Memorial Hospital and was treated by three
doctors who are on the faculty of the medical school. A year later,
through the Foundation, he made a $17 million gift to create the
Feinberg Cardiovascular Research Institute headed by Dr. Francis
Klocke. Researchers affiliated with the institute are at the forefront
of national efforts to treat and cure cardiovascular disease.
In 1996, the Foundation
made a $10 million gift to establish as part of the medical school
the Frances Evelyn Feinberg Clinical Neurosciences Institute. The
institute is under the leadership of Dr. John A. Kessler. Named
for Mr. Feinberg’s late wife, the institute conducts research
on the causes of strokes and related neurological disorders and
helps develop interventional treatment to lessen brain damage caused
by strokes.
In addition to the gifts
to the medical school, the foundation also has been a major contributor
to Northwestern Memorial Hospital, including a $15 million gift
for the inpatient care facility that is the centerpiece of the hospital’s
new medical center. The Feinberg Pavilion houses 492 private patient
rooms, cutting-edge technology and equipment.
The gift from the Feinberg
Foundation pushes the total amount raised in Campaign Northwestern
to $1.28 billion. The campaign is a five-year, $1.4 billion comprehensive
fundraising effort to support facilities, endowment and operational
support at Northwestern University. The campaign ends on Aug. 31,
2003.
Northwestern’s
medical school has approximately 1,200 full-time faculty members
and 700 full-time students, along with approximately 900 residents
and fellows. With a long tradition of excellence in education and
patient care, the medical school also is nationally recognized for
its research in such areas as cancer, Alzheimer’s disease and
AIDS.
Founded in 1851, Northwestern
University is a private research and teaching university with an
enrollment of approximately 7,500 full-time undergraduate students
and approximately 7,000 full-time graduate and professional students
on campuses in Evanston and Chicago.
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