Albright Endowments and the Donors Who Made Them Possible

Every time someone makes a major contribution to Albright College, the story behind the gift is unique. Some donors are alumni. Some are friends who attended other colleges or never went to college. Nevertheless, they feel such a commitment to liberal arts education and to the role that Albright has played in so many people’s lives that they decide to help. Here are a couple of the stories behind recent endowed gifts.

“…Just for the Joy of It!”

In 1999, P. Kenneth Nase, M.D., a local ophthalmologist who graduated from Albright in 1955, gave $1.5 million – the largest gift from a living donor in the history of the College – to create the Dr. P. Kenneth Nase Endowed Chair in Biology. Really, it should have come as no surprise that Ken Nase, who died in 2000, should be the one to make this extraordinary gift. He had been committed to the College for years. He called the school a “significant and critical stepping stone” on his road to success. He mentored many Albright students interested in medical careers, and he had served the College as a Trustee since 1992.

Jane Masters Nase, his wife, was another influence. Although she attended Bucknell, she grew up at Albright, the daughter of Harry V. Masters, president of Albright for many years. “I feel a strong allegiance to Albright,” Jane Nase says. “It was an easy thing to do to contribute this gift because we’re both so committed to the future of Albright.”

Jane Nase ticks off several reasons for her late husband’s support. He wanted to return a debt he felt he owed the College. He wanted to help today’s students, particularly pre-med students. He was intent on setting an example for others to follow.

“Endowment is a sort of security blanket for Albright,” she adds. “It’s the base for financial aid and operating support. Also, endowment is part of the equation when colleges are ranked. It affects the standing of a school like Albright in US News & World Report and other rankings.”

Then she turns back to talking about Ken Nase. In the end, she says, he gave “…just for the joy of it.”

“…Because I Wanted to Help.”

John H. Broadbent Jr. helped to found Arrow International where he was chief financial officer until his retirement. He earned his undergraduate degree at Rensselaer Polytechnic Institute, but his step-daughter, Janel A. Grabarek ’98, graduated from Albright. So when a friend asked him to help by joining the Board, Broadbent agreed. He figured he could bring his experience serving on Rensselaer’s board to the table. Today, Broadbent is vice chairman of the Board of Trustees at Albright.

A few years back, Broadbent established an endowed scholarship at Albright to be awarded to a financially needy student “who is a member of an underrepresented minority group” from the city of Reading. If no one from Reading fits the criteria, then the scholarship is awarded to a student from Berks County.

Broadbent had been giving scholarships every year to students graduating from Governor Mifflin High School where two of his children had attended. “We found that a very rewarding experience,” he says. “Providing funds to a financially needy student who shows great promise is very worthwhile. Of course, the most desirable endowment is unrestricted because the administration can use the earnings to offset expenses in the operating budget. Still, by endowing a scholarship, I’m ensuring that funds for this purpose are available in perpetuity. To the extent that there are endowed scholarships, the school doesn’t have to find other sources of funds to provide grants to desirable students.

“A private college or university needs to have as large an endowment as it can possibly raise,” Broadbent continues. “I would encourage Albright’s alumni to provide as much support as they can either annually or in terms of endowed funds. Albright deserves their support.”