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Towson University gets $5.3 million gift from alumnus

December 2, 2020 GMT

TOWSON, Md. (AP) — A Towson University alum has given a $5.3 million donation to the school, the largest single donation from an alum in the institution’s 154 years, school officials said.

The gift is from Fran Soistman Jr., a 1979 graduate who went on to found Healthcare Management & Transformation Advisory Services and to serve in several other health care leadership roles, The Baltimore Sun reported.

The school said the gift is intended to be used for athletics, the College of Health Professions, the College of Business & Economics and programming to advance equity, diversity and inclusion.

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The school also said the gift makes up nearly half of the university’s total donations in fiscal 2020, when it raised $12.4 million. It also marks the first time that Towson, a member of the University System of Maryland, raised more than $10 million annually for three consecutive years.

An avid supporter of Towson men’s basketball, football and lacrosse teams, Soistman also is putting part of his donation toward building a new Athletic Academic Achievement Center for college athletes in the field house at Johnny Unitas Stadium that will accommodate over 520 athletes and support onsite technology for projects, tutoring and academic advising, according to the university.