Alumnus to create new endowments for College of Business and Economics
Jack Acosta '75, MBA '78
- June 7, 2010
Last week Cal State East Bay announced a new campaign commitment from alumnus Jack Acosta '75, MBA '78 and his wife Susan. Their $1 million pledge to the College of Business and Economics will support faculty and student excellence with several new endowments.
"The Acostas are longtime advocates for the university and its mission," said President Mohammad Qayoumi. "Their generous support for our business program will reinforce Cal State East Bay's reputation as a university of choice for faculty and students."
This announcement comes one month after a $1.5 million, three-year commitment from Chevron Corp., bringing the fundraising total for the University of Possibilities campaign to more than $6 million, as of the end of the first year of the leadership phase.
The majority of the gift will establish endowments for three professorships, undergraduate scholarships and graduate fellowships in the business school. The balance of the donation will support faculty and students until the endowments are fully funded.
"Cal State East Bay is already known as one of the best in the west," Acosta said. "The campaign is a major step forward, a way to help the university move to the next level."
He cited President Qayoumi's energy and the new initiative for science, technology, engineering and math (STEM) education as recent positive developments. He also noted that the campaign priorities, such as increased student and faculty support, will give the university a greater competitive edge. "That's what will make this an environment that will attract more top talent."
Acosta, a longtime resident of Danville, has held a number of executive positions in the high tech industry. In addition to his most recent position as chairman and director at Sum Total Systems Inc in Mountain View, he served as vice president and chief financial officer at Portal Software, executive vice president and CFO at Sybase Inc., and president and chief operating officer at Tanon Manufacturing.
Dean Terri Swartz of CBE said faculty and students will benefit greatly from the Acostas' gift. "Through their leadership and support, the Acostas have propelled the College of Business and Economics forward with their transformational gift," she said. "Their enthusiasm and commitment to the college’s vision of being the business school of choice, offering hope and opportunity, speaks volumes. Clearly, they have set a high standard for alumni support at East Bay."
During the university's first major capital campaign, supporting construction of the Wayne & Gladys Valley Business and Technology Center, Acosta made what was at the time the largest single gift from an alumnus the university had received. He also contributed to the awareness campaign when the university was renamed California State University, East Bay. This new pledge establishes the Acostas as the University's most generous donors.
"Gifts of this significance are the result of several years of positive interactions between a donor and the university community," said Bob Burt, vice president of University Advancement. "All of us, students, faculty and staff, can take great pride in this commitment."
Acosta has been a trustee of the Cal State East Bay Educational Foundation since 2004; he serves as vice chair of the board, chairs its Audit Oversight Committee and is a member of its Executive and Finance & Investment Committee. He also sits on the advisory boards for the College of Business and Economics and the Concord campus.