E. Philip Saunders gifts $7.5 million to RIT
Transformational gift to help fund Saunders College of Business expansion, brings his total giving to the university to more than $25 million
At an Oct. 29 celebration at Rochester Institute of Technology, E. Philip Saunders announced a $7.5 million gift to the business college that bears his name. Saunders, president and CEO of Saunders Management Co. and a longtime supporter of RIT, has gifted more than $25 million to the university. The latest transformational gift will be used to help fund a major renovation and expansion of the facilities in Max Lowenthal Hall, home of Saunders College of Business.
The gift will help add much-needed space to the college for innovative research in business disciplines, multidisciplinary student and faculty work, and experiential learning projects. The expansion will include learning laboratories, collaborative student spaces and room for the addition of the hospitality and service innovation programs to Saunders College. Plans are also underway to construct event spaces that will accommodate business conferences and speakers.
In July, majors in hospitality and tourism management and graduate majors in hospitality and tourism management, service leadership and innovation, and human resource development, as well as advanced certificates in organizational learning and service leadership and innovation, transitioned into Saunders College from the College of Engineering Technology. As a result of the transition, the programs contribute to a 10 percent growth in enrollment for Saunders College.
“My love for RIT goes back many years,” said Saunders. “I feel so good about the college. I am pleased that we are going to make another expansion here. This money is going to a good cause and will take Saunders College of Business and move it to the next level.”
RIT President David Munson thanked Saunders for his confidence in RIT’s work and for helping to craft the vision for Saunders College of Business.
“Phil Saunders has helped set this college on a great path for almost 20 years, and we’re here to celebrate another leap forward for the Saunders College of Business,” said Munson. “Phil’s dedication to RIT and to this college has had a profound effect on our capacity to prepare the business leaders of tomorrow. We are grateful for his confidence in our work at RIT and in the Saunders College of Business, and I would like to call on the entire RIT community to join me in thanking Phil Saunders.”
Dean Jacqueline Mozrall thanked Saunders for his commitment and the impact that he continues to make on the university and its students.
“Saunders College has made significant strides over the past decade,” said Mozrall. “E. Philip Saunders helped initiate this unprecedented period of progress when he placed his trust in us by attaching his name to our business college in 2006. Phil invested in us, but has also committed his time and energy. He is an inspiration to us and this community. His spirit is a driving force in everything we do, and we cherish the active role he takes in helping us to pursue our mission and engage with our students, alumni, faculty and staff. It is truly an honor for us to be part of this amazing college that bestows his name.”
In 2006, Saunders’ $13 million gift to the university boosted the visionary plans of RIT’s Saunders College. In 2010, he enhanced his support with an additional $5 million and a challenge to all Saunders College alumni and friends to raise $15 million to support future endeavors.
He also funded the E. Philip Saunders Endowed Business Scholarship, which has supported more than 85 undergraduate students since it was first awarded, and recently created a graduate endowed scholarship to expand graduate student learning and career potential. RIT student Kate Ferguson, a fourth-year finance and international business double major from Dansville, N.Y., and RIT alumna Rebecca Ward ’14 (accounting), ’15 (MBA), a senior accountant at Insero & Co., thanked Saunders and said the scholarship made their educations possible.
Saunders was named RIT’s 2017 Volunteer of the Year and also received the Herbert W. Vanden Brul Entrepreneurial Award in 2005 and the Nathaniel Rochester Society award in 2011.
A trustee emeritus of the university, Saunders created an empire of truck stops known as the TravelCenters of America Inc., which led to a lifetime of diversified interests in energy, auto and truck rental, recreation and tourism, packaged foods, property management, banking and business ventures.
Today, Saunders College enrolls more than 2,300 undergraduate and graduate students enrolled in programs across RIT global campuses in Rochester, N.Y.; Croatia; Dubai; and China. Saunders College works in partnership with RIT’s entrepreneurial Venture Creations incubator and top-ranked Albert J. Simone Center for Innovation and Entrepreneurship to integrate business education with RIT’s world-leading technical and creative programs. With more than 25,000 alumni worldwide, Saunders College offers undergraduate, master’s, Master of Business Administration, and Executive MBA programs where students gain real-world business experiences through a tradition of applied learning, internships and capstone programs.
Saunders College’s online Executive MBA program was named the top online Executive MBA program in the country and in the top 10 online MBA programs in the nation by Poets&Quants, a leading resource for coverage of graduate business education. Saunders College undergraduate programs were recently ranked No. 66 in the nation in the 2020 edition of U.S. News and World Report Best Colleges, making it the top undergraduate business program in western New York.
This gift is another contribution to Transforming RIT: The Campaign for Greatness, a $1 billion university fundraising effort.