Stevens Institute Receives Historic $21 Million Gift

Stevens Institute of Technology has received the largest philanthropic investment in its history: a $21 million gift from the A. James & Alice B. Clark Foundation. The donation will support the Clark Scholars Program, which provides scholarships, mentorship, and leadership opportunities to engineering students, and will also establish the Clark Scholars Philanthropy Challenge Endowed Fund to expand future student support. One of the University Center Complex towers will be named the A. James Clark Residential Tower in recognition of the gift.

The Clark Foundation was established by A. James and Alice B. Clark to invest in the communities and causes closest to them. A. James Clark, who transformed Washington, D.C.’s skyline as the longtime leader of Clark Construction Group, built a legacy of integrity, family, and generosity. Before his passing in 2015, he directed that the vast majority of his estate be spent down within 10 years, ensuring immediate and lasting impact. The Foundation will sunset in December 2025, making the Stevens investment one of its final and most significant commitments.

University President Nariman Farvardin called the donation a transformative moment, saying it will “ensure that future Clark Scholars have the resources and opportunities to excel not only academically and personally, but also in their ability to serve society.” He emphasized that the gift represents more than financial support — it is an investment in leadership, innovation, and the values that A. James Clark embodied. The commitment secures long-term scholarships and programs while placing Stevens among a select group of institutions recognized by the Clark Foundation for excellence in engineering education.