The 16th annual Georgetown University Wall Street Alliance Scholarship Dinner raised a record-breaking $1.8 million to provide scholarships to undergraduate students. Guided by the philanthropic leadership of the evening’s honorees, John D. Idol (Parent’14) and Jay Jacobs (MBA’98), the assembled community gave generously, surpassing the event’s fundraising goal.
Both of the evening’s honorees understand the crucial and ongoing need for scholarship support at Georgetown. In a video shown at the event, Idol explained how supporting undergraduate scholarships has been key to his family’s connection to Georgetown since his daughter Christina (C’14) arrived on campus. “Our family decided we wanted to touch the lives of students who might not otherwise be able to attend Georgetown,” he said.
Idol believes that scholarship support is an important way to provide access to Georgetown for qualified students, especially first-generation college students. For him, participating in the Wall Street Alliance is one significant way to contribute. “Since more than 50% of the students who attend Georgetown today are receiving some type of financial aid, the Wall Street Alliance Scholarship Dinner is a very important opportunity,” he said. “This is what will continue the legacy of Georgetown.”
Jacobs, the other honoree of the evening, echoed these sentiments. He shared that he received a scholarship award with his admissions letter to Georgetown McDonough’s graduate program. “I had not been expecting the scholarship, and I knew two things at that moment: that I’d be going to Georgetown, and that it would be extremely important for me to pay that scholarship back some day.”
“My wife, Kelly, and I are so grateful for the opportunity to be philanthropic partners with Georgetown, and with the Wall Street Alliance,” he said, underscoring the importance WSA’s work, both professionally and philanthropically. “From the moment I arrived on campus, it became clear to me that the connection between Georgetown and Wall Street is a very tight bond, due in large part to the Wall Street Alliance. Everyone has done great work together to build those networks, and people have given generously to provide scholarships for kids to come to Georgetown.”
About the Wall Street Alliance
The Georgetown University Wall Street Alliance brings together more than 8,000 Georgetown alumni, parents, and friends in the business community. Its objectives include: raising Georgetown’s profile and that of its alumni, parents, and friends in business; creating and participating in networking opportunities for business professionals; providing networking, mentoring, and scholarship support to current and future Georgetown students, and building relationships between members’ firms and the university for the mutually beneficial exchange of resources.
In 1993, William P. Frank (C’63), Victor R. Wright (Parent’96,’99), and James F. Higgins (B’70) independently proposed that the university develop a Wall Street affinity group. Each had seen similar groups at peer institutions and recognized the benefits of such an alliance, both for individual members and for universities and their students. In 1995, the Wall Street Alliance was founded. It sponsors several events annually featuring prominent speakers.
The alliance also helps Georgetown students explore careers in business through connections with alliance members and by providing ongoing assistance to the Main Campus, MBA, SFS, and Law Center career centers.
About the Scholarship Dinner
In 2000, the alliance established The Wall Street Alliance Scholarship Fund for undergraduate students. The Fund was inaugurated at the first annual Wall Street Alliance Scholarship Dinner in March 2001. Since then, the Scholarship Fund has grown to more than $10 million and supported 72 students.
In addition to honoring Idol and Jacobs for all they do for Georgetown, this year’s event also recognized the wonderful career of Lois Benedetto (Parent’93,’96,’00), who was instrumental in the early formation of the Wall Street Alliance.
“This year’s Wall Street Alliance Scholarship Dinner was extraordinary,” concluded John D. Wooters (C’75), director of professional alliances at Georgetown. “The dinner was a huge success and raised a remarkable amount to add to the WSA Scholarship Fund, which will assist qualified students for many years to come.”