2019 - 2020 Annual Report

ONEBABSON The Impact of Your Philanthropy FISCAL YEAR 2020 JULY 1, 2019 TO JUNE 30, 2020

BABSON COLLEGE A

B B A B S O N C O LLEGE

DEAR FRIENDS, If there’s anything I’ve learned about the Babson community this year, it’s that we stick together.

Fiscal year 2020 began during our Centennial Celebration. As we commemorated 100 years of leading the world in entrepreneurship education, you were right alongside us, celebrating all that we have achieved over the past century. We broke records in alumni participation, partied at Back to Babson, learned with our centers and institutes, and received our largest gift ever.

Then things took a turn. When the COVID-19 crisis hit, we quickly sent our students home to protect their health and safety and that of our faculty and staff, and transitioned to a virtual learning and working environment. Our College faced unprecedented challenges, but through the tenacity, compassion and leadership of our community, we remained strong as One Babson.

One Babson encapsulates the spirit of the Babson community. We are entrepreneurial.

We are innovative problem-solvers. We change the world for the better. And most importantly, we have each other’s backs.

Throughout this year’s challenges, you still remained by our side, offering support like never before. It has been both astonishing and inspiring to have a record fundraising year in the middle of a global health crisis.

Despite the difficulties we faced this year, Babson stayed strong. And we have you to thank for that. The ingenuity and resilience of the Babson community has kept us moving forward. The generosity of our donors has made that possible.

As we look forward, we give you a look back at all that you helped our College accomplish this past fiscal year.

With immense gratitude,

Edward Chiu GOVERNOR CRAIG R. BENSON ENDOWED SENIOR VICE PRESIDENT FOR ADVANCEMENT

The Babson College fiscal year 2019-2020 (FY20) is from July 1, 2019 to June 30, 2020.

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ONE YEAR FOR THE RECORD BOOKS In a year full of uncertainty and seismic shifts, the Babson community stepped up like never before, helping fuel record giving that topped $91 million in commitments to the College during FY20.

2,178

DONORS GAVE DURING MAKE YOUR MARK, OUR ANNUAL GIVING DAY, THE MOST GIFTS EVER IN A SINGLE DAY

12,330

PEOPLE MADE A GIFT TO BABSON

32.4%

AN ALUMNI PARTICIPATION RATE THAT WAS THE HIGHEST IN COLLEGE HISTORY, AND AN INCREDIBLE LEAP FROM JUST 13% IN 2013

$50 MILLION

FROM THE ARTHUR M. BLANK FAMILY FOUNDATION, THE SINGLE LARGEST GIFT BABSON HAS EVER RECEIVED

19,009

GUESTS ATTENDED 312 IN-PERSON OR VIRTUAL EVENTS

FY20 dates: July 1, 2019 to June 30, 2020

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JULY 1, 2019

GRADUATE SCHOOL FOR ENTREPRENEURSHIP, 27 CONSECUTIVE YEARS – U.S. NEWS & WORLD REPORT

#2 Stanford University #3 Massachusetts Institute of Technology #4 University of California – Berkeley #5 Harvard University AHEAD OF:

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UNDERGRADUATE SCHOOL FOR ENTREPRENEURSHIP, 24 CONSECUTIVE YEARS – U.S. NEWS & WORLD REPORT

TOP BUSINESS SCHOOL FOR SALARY POTENTIAL, 5 CONSECUTIVE YEARS

FROM DAY ONE On the first day of FY20, Babson alumnus Stephen Spinelli Jr. MBA’92, PhD returned to his alma mater to officially begin his tenure as the College’s 14th president. Wasting no time, he addressed the Babson community at midnight during a Facebook Live event.

A successful entrepreneur, academic leader and scholar, he immediately engaged the Babson community in a strategic plan to ensure that Babson would excel in the everevolving education landscape as the College embarked on our second century. Overall, more than 4,400 inputs helped guide and inform strategic planning.

– PAYSCALE

Over the past three decades I have held many Babson titles: student, alum, faculty member and leader. I am honored and energized to add president to that list. It is clear that while much has changed—including our newly transformed campus—the College remains dedicated to teaching and learning, and committed to excellence.”

PRESIDENT STEPHEN SPINELLI JR. MBA’92, PHD

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JULY 1, 2019

ONE STREET THAT HAS IT ALL Thousands of Babson alumni have founded successful businesses all around the world. A virtual thoroughfare was launched to give alumni the opportunity to support other Babson-owned and founded businesses. Babson Street opened in July 2019. Shoppers can now find their next vacation resort, dinner reservation or real estate agent, and shop for everything from fancy dog collars and Jamaican BBQ sauce to shoes and cars. The marketplace is searchable by industry, region and business type (women-led, LGBTQ-owned, Black-owned, family business and sustainable/social impact) and over half of them offer an exclusive Babson discount. Set up shop or window browse at Babson.edu/BabsonStreet.

207

BUSINESSES FROM EVERY CONTINENT EXCEPT ANTARCTICA, OPENED UP SHOP ON BABSON STREET DURING FY20

SANDY PERISH, BERMUDA

NEWPORT, RI

BANGKOK, THAILAND

SUMMER, 2019

ONE TRIP AROUND THE WORLD

With alumni in 125 countries and 69 regional alumni clubs across the world, Babson hosted 15 Summer Receptions from Washington DC to Bangkok, and Miami to Bermuda to help us usher in our Centennial year, welcome our new president, and engage alumni, parents and friends.

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COME ONE, COME ALL

AUGUST 29, 2019

MOVE-IN DAY Arriving from 35 states and 41 countries, 600 members of the Class of 2023 began their journey at Babson.

Their diverse makeup:

44%

44%

WOMEN

U.S. MINORITY

18%

29%

FIRST GENERATION

INTERNATIONAL

In FY20, donors assisted more than 1,500 students with $27 million in scholarships and financial aid. Babson proudly uses a need-blind admissions policy; students cannot be admitted or denied based on their ability to pay tuition. Through donor support, Babson is able to meet 100 percent of the demonstrated need of all U.S. undergraduates, ensuring a vibrant community that is home to the most talented and deserving students and entrepreneurial leaders, regardless of their financial capacity.

APPROXIMATELY HALF OF ALL BABSON UNDERGRADUATE STUDENTS RECEIVE FINANCIAL ASSISTANCE $1,814,955 WAS RAISED IN SUPPORT OF BABSON’S GLOBAL SCHOLARS

DONORS PAVE THE WAY In honor of Babson’s 100th year, alumni, staff, students and friends helped etch our future in brick—5,161 bricks were purchased and installed in Kerry Murphy Healey Park, providing more than $500,000 in unrestricted support.

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ONE DAY TO CHANGE THE YEAR

SEPTEMBER 5, 2019

MAKE YOUR MARK During Make Your Mark, Babson’s annual giving day, donors helped us surpass our goal of 1,919 donors in 2,019 minutes. It was a recordbreaking day, with donors giving from 37 countries, 43 states, and 342 people donating to the College for the first time. The overwhelming support pushed the total amount given during Make Your Mark since it began in FY17 past the $1 million mark.

MAKE YOUR MARK 2019-2020 DONORS: 2,178 TOTAL GIVEN: $330,850 RECORD-BREAKER: THE MOST GIFTS EVER MADE TO BABSON IN A SINGLE DAY

On that same day, we celebrated our Centennial Founder’s Day— a tradition since 1947 to honor the opening of the College and Roger Babson’s passion for entrepreneurship, education and philanthropy. On the Quad, students enjoyed music, games, food and memories, and many even supported with their own gifts to the Make Your Mark campaign.

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SEPTEMBER 19, 2019

ONE HUNDRED YEARS OLD Babson Institute opened its doors on September 19, 1919 with just 27 students in the former home of Roger and Grace Babson in Wellesley Hills. Over the past century, Babson has changed in name and size, but not in purpose.

We’ve grown, evolved and transformed the education of entrepreneurship, which has become more important and relevant than ever before.

One thing that hasn’t changed is the spirit of philanthropy that Roger Babson not only believed in, but practiced. He saw it as his duty to give back to others, financially supporting endeavors that would benefit humanity, while also dedicating his time and expertise to uplifting the community. Roger Babson invested in companies designed to improve public health, such as manufacturers of paper towels and other hygienic products, fire alarm call boxes, fire sprinklers and traffic signals. He also took an interest in the community’s financial welfare, expanding on his investment practice to include financial counseling. Roger Babson’s primary philosophy was that individuals and society could and should change for the better— a Babson value that remains today.

The photos show the metamorphosis of our College and campus—with donors championing the Babson student experience in all its variations.

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SEPTEMBER 18-22, 2019

ONE EXTRAORDINARY CELEBRATION CENTENNIAL CELEBRATION

A college only turns 100 once, and we closed out the last century with a bang.

Babson celebrated our history, collective achievements and one another in Wellesley, downtown Boston and around the world. It was a once-in-a-century fête with 3,891 people from around the globe returning for one extraordinary week that included 75 (yes, you read that right) conferences, events and activities.

Babson took over Copley Square in downtown Boston for our annual Babson Connect: Worldwide. Shining for all to see was a tent displaying every inductee of our Academy of Distinguished Entrepreneurs®, the Babson flag flying above the square, and the top of the Prudential Building and Zakim Bridge illuminated in Babson green. Even the ducks in the famed Make Way for Ducklings sculpture in Boston’s Public Garden were demonstrating Babson pride.

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CENTENNIAL CELEBRATION Babson’s Academy of Distinguished Entrepreneurs® Global Summit Gala Babson alumnus Eric G. Johnson ’72, P’08, president and CEO of Baldwin Richardson Foods, and co-founders of Wayfair, Steve Conine and Niraj Shah, were inducted into Babson’s Academy of Distinguished Entrepreneurs®, the world’s first entrepreneurship hall of fame. These esteemed entrepreneurs joined the more than 100 internationally renowned entrepreneurial leaders who have been recognized by the Academy over the past 41 years for their significant contributions to the development of free enterprise throughout the world.

Babson Connect: Worldwide Babson’s premiere entrepreneurship summit, the fifth annual Babson Connect: Worldwide was held at the Fairmont Copley Hotel in downtown Boston where guests networked and exchanged ideas with business leaders from around the world. Speakers and panelists included Arthur M. Blank ’63, H’98, ADE 1995, philanthropist and chair of the Arthur M. Blank Family of Businesses, Diane von Fürstenberg, ADE 1979, founder and chair of Diane von Fürstenberg, Geoff Molson MBA’96, ADE 2007, director of Molson Coors and owner of the Montreal Canadiens, Phillip Castellini ’92, president and COO of the Cincinnati Reds, Linda Pizzuti Henry ’00, H’19 managing director of Boston Globe Media Partners, Jason Feifer, editor-in-chief of Entrepreneur magazine, Charlie Baker, governor of Massachusetts, Marty Walsh, mayor of Boston and many more.

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Regional Centennial Celebrations The milestone was also celebrated from New York City to London, and San Francisco to Hong Kong, with more than 10 Regional Centennial Receptions where more than 400 members of the Babson community caught up with old friends, made new connections and toasted to the next 100 years.

COSTA RICA

HONG KONG

Back to Babson On the Wellesley campus, the celebration continued with Back to Babson weekend where 1,800 alumni from the classes of 1949 to 2019 reconnected and reminisced.

On display: the Globe’s new forever home in Kerry Murphy Healey Park, the new Babson Recreation and Athletics Complex, Babson Commons at Horn Library and the Weissman Foundry. The fan-favorite Back to Babson tent was transformed into a clambake with custom Babson lobster bibs, live music, games, food and fun for all ages.

45 ALUMNI-FOUNDED BUSINESSES WERE FEATURED THROUGHOUT THE CELEBRATION AS SPONSORS AND CONTRIBUTORS B A B S O N C O L L E G E 13

CENTENNIAL CELEBRATION

REUNION RECORD RECAP: The undergraduate Class of 1989 set an attendance record for a 30th Reunion class party.

The graduate Class of 2014 had the highest 5th Reunion attendance in more than 10 years.

The Class of 1989 achieved a record Fund for Babson participation rate.

The first-ever Half-Century Club Committee (representing the Classes of 1949 – 1969) brought back more than 100 attendees—a record attendance.

Babson ePitch: Second Century Challenge Step aside Shark Tank. One of the most exciting moments during the Centennial Celebration was the inaugural Babson ePitch: Second Century Challenge, the College’s biggest pitch competition to date.

Nearly 80 startups within the Babson community applied to compete for cash and in-kind prizes, which was organized in partnership with eTower. Three finalists were chosen to compete: Renee Fry, founder of Gentreo and an alumna of Babson’s Women Innovating Now (WIN) Lab®, Ryan Laverty ’20, co-founder of Arist, and Joanna Geisinger MBA’17, founder of TORq Interface. After their invigorating pitches to the well-known judges (Jamie Siminoff ’99, Tim Chae ‘13, Diane Hessan MP’02, Fred Kiang ’70, MBA’75, H’19, Alicia Castillo Holley MBA’96, and faculty member Edward Marram) the big winner was TORq Interface, capturing the $100,000 winning prize and title.

But the crowd cheered (and gasped) when the judges decided to collectively invest $300,000 in each of the final startups pitched.

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Pioneering Women Luncheon The Pioneering Women Luncheon celebrated the first decade of women who attended Babson and the important role they play in our history. Starting with just over 600 alumnae between 1968 and 1979, these trailblazers helped pave the way for female students at Babson, which now celebrates classes with a majority of women who stand on the foundation of strength and tenacity of the ones who came before them.

Among those honored: The first woman editor of the yearbook (The Babsonian), Paula Kreiser Velluto ‘72

The first woman editor of the Babson Free Press, Elizabeth Tidyman ‘78

The first woman recipient of the Roger Babson Award, June Cohen ‘71

Member of the first varsity women’s basketball team, Maria Serpentino ‘78, P’05

The first woman Babson Alumni Association president, Janet Roberts ‘89, MBA’95

Babson’s first female Chair of the Board of Trustees, Marla Capozzi MBA’96

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ALL FOR ONE, ONE FOR ALL

During the 2019 Recognition Brunch, volunteer standouts who had gone above and beyond to support our students were honored:

HONORING OUR VOLUNTEERS Giving comes in many forms, and 2,931 volunteers generously gave Babson their time and talent in FY20. Alumni, parents and friends of Babson were guest speakers in classrooms and panelists for inperson and virtual events. Volunteers served on advisory boards and as mentors. They sponsored and hosted events, provided career support and built strong connections between alumni and students.

In short, our volunteers made Babson better.

Giving Back • 375+ volunteers supported our undergraduate and graduate admission efforts.

• 260+ alumni, parents and friends helped students navigate and secure jobs and internships.

• 240+ alumni orchestrated our global alumni events.

• Nearly 175 served as reunion committee and class agent volunteers.

• Nearly 500 alumni, parents and friends volunteered for the Coaching for Leadership and Teamwork Program.

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Jeffrey J. McLane ’96 The Cruickshank Alumni Leadership Award John (Jack) F. Dewey, Sr. ‘49 MP’80 * The Richard J. Snyder Distinguished Service to the College Award Shatiek Jamal Gatlin ‘16 Anna Ivashko ’11, MBA’20 Narumon Lertkangwanklai MBA’13 The Distinguished Recent Alumni Award Jon Anderson ’75, P’04, P’08, P’13, P’13 The Joseph R. Weintraub Alumni Award for Distinguished Faculty/Administrator Service Steven Bandel P’16 The John H. Muller Jr. Parent Leadership Award * Jack Dewey (top photo, fifth from left) passed away in October 2019, shortly after receiving this award. He was one of Babson’s most beloved volunteers, staunchest allies, and helped establish the Class of ’49 scholarship that has been awarded to nearly 250 students.

SEPTEMBER 26, 2019 In September 2019, BabsonARTS welcomed Jamie Kent ’09 for a 3-day residency. The recording artist, songwriter and entrepreneur, who refers to his fusion of music and entrepreneurship as “artrepreneurship,” led an arts and business panel, headlined a music concert with Babson’s talented student musicians, co-hosted a creative/artistic-based rocket pitch competition, and met with students in classrooms.

Sorenson Center for the Arts/BabsonARTS The diverse programming of BabsonARTS includes theater, dance, music, film, literary and visual arts to expand perspectives, promote empathy and infuse creative thinking into the entrepreneurial mindset.

Significant to its mission is supporting the creativity of Babson students and organizations on campus as a collaborator, advocate and enthusiast.

In FY20, 133 donors supported the Sorenson Center for the Arts.

YOUR IMPACT • 4 student clubs held 8 performances in fall 2019 with 797 attendees.

• 25 BabsonARTS events were held.

• 656 people attended The Empty Space Theater’s production of The Intelligent Design of Jenny Chow.

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OCTOBER 17, 2019

THE CUTLER CENTER FINANCE LAB OPENS It was a landmark year for the Stephen D. Cutler Center for Investments and Finance, which celebrated its 20th anniversary in FY20. In October 2019, the new state-of-the-art Finance Lab opened in the heart of campus. Equipped with Bloomberg, FactSet and other tools used by industry professionals, the Finance Lab provides Babson students with unique opportunities to learn and lead through experiences designed to prepare them for successful careers in financial services. The Cutler Center was founded with a generous gift from Stephen D. Cutler MBA’61 and his wife, Alice. In FY20, 223 donors supported the Cutler Center with nearly $180,000 in contributions.

25%

OF BABSON STUDENTS PURSUE A DEGREE IN FINANCE

YOUR IMPACT

• Stock Picking Competition: Over eight weeks, students, faculty and alumni competed against one another for various cash prizes. Portfolios were issued $1 million of simulated currency through the platform Wall Street Survivor.

• Rotman International Trading Competition: This annual event brings teams of students and their faculty advisors from universities worldwide to participate in a unique, three-day simulated market challenge. Babson College placed, with the best overall finish since 2010. Babson also won the Liquidity Risk case, winning a $1,000 prize for first place.

• The Babson College Fund is a two-semester course where students manage a $3 million portion of the Babson College endowment.

• The Center offers Finance Fridays, a weekly webinar series that focuses on the financial impact of COVID-19, featuring Babson faculty and alumni thought leaders.

• Sponsored by Fidelity, the 10th annual Babson Trading Competition brought more than 50 students to the Cutler Center Finance Lab for a sales and trading competition.

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ONE TRANSFORMATIONAL GIFT

NOVEMBER 19, 2019 Arthur M. Blank ’63, H’98, ADE 1995 is an entrepreneur, leader and philanthropist. Best known as co-founder of the Home Depot, owner of the Atlanta Falcons and chairman of the Arthur M. Blank Family of Businesses, he’s a proud alumnus who believes in the power of giving back. In November 2019, he made the largest gift in Babson’s history. His $50 million investment through the Arthur M. Blank Family Foundation (also their largest gift ever made at that time) enabled the College to establish the Arthur M. Blank School for Entrepreneurial Leadership, which will advance and amplify values-driven entrepreneurial leadership on a global scale.

The Blank School is home to Babson’s entrepreneurial centers and institutes, where learners gain real-life experience to put into practice what they learn in the classroom.

When you come together as a community, you see that there is a greater capability than you imagined.”

ARTHUR M. BLANK ’63, H’98, ADE 1995

The Arthur M. Blank Center for Entrepreneurship The Arthur M. Blank Center for Entrepreneurship, which resides under the new Blank School, provides learning experiences designed to develop students’ entrepreneurial leadership skills and connect them with the resources, opportunities and connections they need to move forward towards their goals.

YOUR IMPACT • In April 2020, the Blank Center presented the B.E.T.A. (Babson Entrepreneurial Thought & Action®) Challenge live online.

The competition brought the global Babson community together to watch the pitches and to celebrate as three remarkable Babson entrepreneurs—Aakaanksh Pothukutchi ’13, Vaidehi Tembhekar MBA’21, and Noah Doris ’20—each won $20,000 for their ventures.

• The Blank Center engaged with more than 215 Babson alumni and friends who contributed their time and expertise to our community.

• More than 100 events were held, serving student and alumni entrepreneurs.

• Nearly $400,000 in funding and in-kind services assisted student and alumni ventures.

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Center for Women’s Entrepreneurial Leadership In 2020, the Center for Women’s Entrepreneurial Leadership (CWEL) celebrated its 20th anniversary with 335 donors providing nearly $240,000 in support of award-winning programs and thought leadership that empowers women to create social and economic impact for themselves and their communities. It was a year of innovation that resulted in reengineering existing programs and launching new ones, ultimately increasing access for students, alumni and the global community.

YOUR IMPACT

• 3,597 people participated in 50 CWEL programs and events.

• 127 mentor relationships were facilitated.

• The Babson Women’s Leadership Academy: A new program for women-identifying high school students that empowers them to develop confidence, communication and leadership skills using Entrepreneurial Thought and Action®.

• The Women Innovating Now (WIN) Growth Lab: Taking the best of the successful 5-month residential WIN Lab accelerator, it’s now a scalable, 12-week, online experience accessible to women entrepreneurs everywhere.

• Mentoring for the Entrepreneurial Leader: A new 2-credit course that pairs students with professionals for a one-to-one mentoring experience, while teaching them about the purpose and practice of mentoring programs in inclusive workplaces.

• The Inclusive Entrepreneurial Leadership Badge: A new program based on the highlycurated CWEL Scholar experience, now open to all undergraduates, providing rigorous education, thoughtful reflection and experience-based learning to develop their ability to lead with inclusion aptitude.

The Lewis Institute for Social Innovation Founded in 2010 with a generous gift from Alan and Harriet Lewis of Grand Circle Corporation, the Lewis Institute empowers its business students and stakeholders to take action on advancing U.N. Global Goals—challenges like poverty, climate action and inequalities. In FY20, 92 generous donors gave more than $1.3 million to the Institute, enabling the co-creation of powerful opportunities to amplify positive impact.

YOUR IMPACT

• The FutureLab on Mobility: A collaboration between Babson and the Toyota Mobility Foundation, this multisector experiential program focused on multigenerational, inclusive mobility during the inaugural year, with student teams developing innovative solutions for their partner organizations to immediately implement and test.

• Babson Youth Impact Lab: Advancing their mission to democratize youth entrepreneurial education, the Institute trained more than 250 K-12 educators, and taught over 350 youth from more than 25 countries, giving young people the entrepreneurial skills and

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mindset to create change for themselves, their communities and the world.

• Social Innovation Inventureships: Through this first-of-its-kind program, students invent their own semester-long experience, working at a strategic level with a sponsoring organization to address a real and current social impact challenge.

• Entrepreneurial Leadership in the Social Sector: An executive certificate program for philanthropists, social sector leaders and boards to learn how to use Entrepreneurial Thought & Action® (ET&A™) to navigate critical moments of uncertainty, transition and growth.

Institute for Family Entrepreneurship The Institute for Family Entrepreneurship’s (IFE) mission is to amplify the capacity of entrepreneurial families to create economic and social value on a foundation of stronger family relationships. Since the IFE’s launch, more than 400 students and their families have engaged in the Institute’s signature Family Entrepreneurship Amplifier Course and other programs. In FY20, 170 donors contributed more than $1.7 million, helping to expand offerings, build student courses and programs, and amplify the IFE’s impact through programs for alumni and parents.

YOUR IMPACT

• The Family Entrepreneurship Amplifier: An immersive, three-year, creditbearing program that engages both students and their families, building their capacity to create a shared vision for value creation and impact. More than 100 families have participated in this program to date.

• Family Entrepreneurship Peer Forum: A unique course that builds the students’ emotional intelligence capacity required for success in family entrepreneurship.

Nearly 100 students have participated in this program to date.

• Global Mentoring Program: Connects students with mentors from family business backgrounds in specific industries or geographic regions, providing an

APPROXIMATELY

50%

OF BABSON STUDENTS COME FROM A FAMILY BUSINESS

opportunity for students to learn from global family entrepreneurship leaders.

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MARCH 11, 2020 Students packed their belongings, gathered for photos in front of the Babson World Globe, and said their temporary goodbyes after it was announced that classes would be transitioning online for the remainder of the semester due to the burgeoning COVID-19 global health crisis.

ONE DEFINING MOMENT

B A B S O N C O L L E G E 25

ONE DEFINING MOMENT

It was amazing to see the lengths people would go to make sure our students were taken care of.�

EDWARD CHIU GOVERNOR CRAIG R. BENSON ENDOWED SENIOR VICE PRESIDENT FOR ADVANCEMENT

Hundreds of guests were expected to arrive in Panama City, Panama on March 19 for the 6th annual Babson Connect: Worldwide. But as more COVID-19 cases were confirmed in North and Central America, it was clear the pandemic was spreading rapidly. With much thought and deliberation, the event was canceled. But that was only the beginning.

Far more difficult decisions would need to be made as the weeks wore on. Top of mind was safeguarding the health and well-being of the entire Babson community. On March 10, President Spinelli announced that students would need to return home, classes would be taught virtually for the remainder of the semester and staff would begin working remotely.

It was a herculean effort to simultaneously tackle the massive logistical and financial challenges of moving students off campus, while transitioning to a fully online learning experience. Staff worked round-the-clock, but they weren’t the only ones who stepped up during a time like no other.

The Emergency Fund was quickly established to assist students.

In just over a week, nearly $23,000 in donations had already been made to the Fund. In true Babson fashion, alumni also found other creative solutions, purchasing flights for students, offering them jobs and even opening their homes. As we know now, it was only the beginning of a long-enduring health crisis that would significantly impact everyone in the Babson family. Yet incredibly, it was also the beginning of an outpouring of support for our students and College, the likes of which we had never seen before.

To all of you who gave, and called to offer your support of our students and each other, please know that you inspired us, you kept our students safe, you allowed learning to continue even under the most challenging of circumstances, and we are forever grateful.

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Emergency Fund (FY20) $280,000 raised | 183 students assisted Donations to the Emergency Fund have been used to help students most affected by the pandemic, providing support for essential needs: • Purchase of flights home in March, or fees to change previously booked flights.

• Costs associated with canceling study abroad programs, such as unexpected fees for airfare and non-reimbursed housing costs.

• Housing costs for graduate students forced to move off campus and those required to stay in the U.S. longer than planned if they could not travel home after graduation.

• Storage costs for students who couldn’t make other arrangements for their belongings on short notice.

• Providing or upgrading internet access at home for online learning.

• Food costs for students who could not return home and remained on campus through May. • Necessary office supplies like printers, laptops and webcams.

BABSON WAS ONE OF THE FIRST SCHOOLS TO GO FULLY ONLINE, WITH THE INFORMATION TECHNOLOGY SERVICES DEPARTMENT TEAM QUICKLY TRANSITIONING 650 COURSES ONLINE IN JUST ONE WEEK, AND TRAINING NEARLY 200 FACULTY TO TEACH REMOTELY.

• Help with the cost of quarantining for students who returned home, but were required to quarantine separately from their families.

• Car rentals for students able to drive home.

The Healey Center for Global Healthcare Entrepreneurship Claire Cecile Pierre, MD, executive director of the Healey Center for Global Healthcare Entrepreneurship, arrived on campus just two days before Babson transitioned online. Little did she know she’d be at the very epicenter of the pandemic.

Pierre quickly mobilized the entire Babson ecosystem to do what our College does best: use an entrepreneurial mindset to tackle complex, real-world challenges.

The Healey Center was directly involved with the early COVID-19 response in Massachusetts by working with community health partners in transitioning to telehealth care, and addressing the needs of remote patients in Massachusetts and those most vulnerable to the coronavirus. The Center also brought together healthcare practitioners and entrepreneurs from multiple countries with the goal of finding solutions to immediate needs by scaling and pivoting technologies, resources and organizations.

The Center is now preparing students to be the global health problem solvers of the future. Students are already studying the impact of COVID-19 in their classes, researching entrepreneurial opportunities and business models for emergency responses, preparing to help healthcare workers in providing virtual care, and looking for more opportunities to engage in independent studies and special internships to create positive impact around this pandemic.

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ONE DEFINING MOMENT

ONE STEP AHEAD As the COVID-19 pandemic quickly moved to the U.S. and Massachusetts, President Stephen Spinelli Jr. MBA’92, PhD was faced with the enormous task of responding to an unprecedented global crisis. Taking swift action in an effort to safeguard the health of our students and community, he made the early decision to send students home and move classes and most business operations online. Below he talks about what those early days of the pandemic were like for him, and how he proudly watched the community come together as One Babson.

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This has been quite a year for you. From assuming the role of president in July, to our Centennial Celebration, to a worldwide pandemic. Summarize it in three words.

Entrepreneurial, strategic and urgent.

How difficult was it to make the decision to send students home due to COVID-19?

The decision to close the physical campus was intellectually straightforward and emotionally fraught. In the very first crisis management meeting we established two overarching decision-making principles: safeguard the health and safety of the community and ensure academic continuity for our students.

The science indicated decisive and immediate action was required…and it broke my heart.

How were you feeling the day they left?

I stayed awake the entire night we made the decision to close the campus. I knew it was the right thing to do, but also recognized the gross disruption of lives it would have.

Since a global health crisis like this is unprecedented in our time, how did you make decisions as the pandemic took hold, especially with sometimes limited outside information and guidance?

An “entrepreneurial leader,” often discussed at Babson, makes decisions by identifying key variables (often through the counsel of experts) and developing options depending on the strength, interaction and directions of those variables. An ability to pivot is achieved through a disciplined process of obtaining knowledge and a bias toward action.

What was the most challenging aspect of our transition to remote learning?

The integration of delivery systems with the capabilities of the faculty, and matching that with student expectations.

Is there anything you wish you had done differently?

I wish we had invested earlier in digital infrastructure and teacher training.

It’s easy to forget that we held our Centennial Celebration in this same fiscal year. Describe what that week felt like.

Babson has always been, and remains, an aspirational community. We strive to be better, have more impact and create greater value.

The Centennial Celebration was a proof point that our cultures persists across time, generations, industries and geographies.

What motivates you?

People.

What is your hope for Babson in the coming year?

To impact higher education, change business education and revolutionize entrepreneurship education.

Where do you see Babson in 5 years?

As the epicenter of entrepreneurial leadership.

How important is philanthropy right now, and why?

People give to causes they believe in. Having those beliefs embodied in an organization engenders confidence that the impact will be longstanding. Without the kind of multigenerational institutional leadership like Babson College has, the stress of this pandemic might cause some people to despair. With Babson there is hope, aspiration and a bright future.

What have you learned most this year?

Babson is a font of hope and achievement.

We have become an increasingly diverse community bound by the belief that we can— and must—improve the human condition.

B A B S O N C O L L E G E 29

ONE DEFINING MOMENT

MARCH 26, 2020 While alumni and friends of Babson came together to support the College, Babson wanted to ensure that everyone in the Babson community had the support they needed as well. The BabsonDiscover and Babson Connect: Online webinar series were launched in March 2019 to help the Babson community discover innovative ways to solve the unique challenges faced during the pandemic and beyond. In just three months, more than 50 faculty and alumni thought leaders shared their expertise in 52 webinars that engaged more than 3,000 alumni, students and friends.

For more information on continuing resources and events visit Babson.edu/Events and Babson.edu/AlumniResources.

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MARCH 30, 2020 In the midst of the global pandemic, Robert Weissman ’64, H’94, P’87 ’90, G’20 didn’t hesitate to help the College when we needed it most, making a $1 million unrestricted gift for leadership to use to address head-on whatever Babson was about to face. Weissman’s gift was another in a long line of generous contributions that he and his wife, Jan P’87 ’90, G’20, have made to the College. They have supported projects that radically changed the look and feel of campus: the relocation of the Babson World Globe and the openings of both the Weissman Foundry and Babson Commons at Horn Library. Over the course of their lives, they have committed more than $100 million to the College.

Extraordinary times call for extraordinary action. I want to ensure the well-being of Babson students, faculty, and staff.” ROBERT WEISSMAN ’64, H’94, P’87 ’90, G’20

Weissman Foundry The Weissman Foundry—a 10,000-squarefoot makerspace—provides individuals and teams with the space and equipment needed to bring creative projects to life.

Doors opened in the fall of 2019. Since then it has been a place for innovation and transdisciplinary collaboration across Babson, Olin and Wellesley Colleges.

The Fund for Babson The Fund for Babson is a critical means of support for the College. During the COVID-19 crisis, it was invaluable. This unrestricted giving allows the College to quickly and decisively take advantage of opportunities and meet critical emergency needs as they arise.

In FY20, more than $6.5 million was given through the Fund for Babson, and more than $300,000 through the Fund for Babson-Graduate Programs.

B A B S O N C O L L E G E 31

ONE DEFINING MOMENT

APRIL 22, 2020 The #OneBabson campaign was perhaps the most important and meaningful show of support our College has witnessed. Even as the pandemic began to surge across the U.S., and many in the Babson community faced their own personal and professional challenges, 400 individuals donated more than $140,000 in just two days. A time of challenge became a time of coming together—a testament to the strength and compassion of the Babson community.

Our students now grapple with what their future may hold.

But Babson has always been about preparing students to create a new and different future. We must plan for more uncertainty, address the changing needs of learners, and ensure a vibrant future for our institution. Working together, we will make Babson stronger than ever.�

LAWRENCE P. WARD, ED.D. VICE PRESIDENT FOR LEARNER SUCCESS AND DEAN OF CAMPUS LIFE

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MAY 13, 2020 During the annual Barefoot Challenge, 1,173 donors gave $126,197 in support of our student-athletes, many of whom had their season cut short. It was the sixth year that former Babson President Brian Barefoot ’66, H’09, MP’01 challenged his fellow alumni athletes and parents of student-athletes to give to their favorite Babson team.

For many of our students, sports are an essential part of the Babson experience, offering a strong sense of community and life-long connections, while teaching valuable lessons about work ethic and collaboration. Our donors are an integral part of making this possible.

• 2,248 total donors generously gave $1,588,441 to Babson Athletics.

YOUR IMPACT

• $133,012 donated to the Athletics Excellence Fund (supporting everything from technology enhancements and on-court coaching to team trips and partnering with a sports psychology group).

• 45 donors gave $372,304 to the Baseball Field Renovation Fund.

The Babson Recreation and Athletics Complex (BRAC) opened in September 2019 thanks to donors who collectively gave more than $2.5 million in support of this facility.

BRAC is open not only to our teams, but to the entire campus—all students, faculty and staff benefit from this communal space every day.

B A B S O N C O L L E G E 33

ONE DEFINING MOMENT

The world is different now than it was just a few months ago, with higher risk, bigger opportunities, more value to be created. You are prepared for this moment. You are ready, and we can’t wait to see what you will do next.”

MAY 16, 2020

PRESIDENT STEPHEN SPINELLI JR. MBA’92, PHD

One of a Kind With 2,800 viewers from around the world watching the virtual degree conferral, nearly 1,200 graduate and undergraduate students earned their Babson College degrees. It was also the moment that students from the Class of 2020 were warmly welcomed into the global community of more than 43,000 fellow alumni.

YOUR IMPACT

FOR MORE THAN 25 YEARS, GRADUATING SENIORS HAVE COME TOGETHER TO SUPPORT BABSON. THE LAST THREE CLASSES HAVE GIVEN A COMBINED $111,000.

I had the honor of not only graduating from my dream school, Babson College, but also of celebrating my graduation with the people that matter the most: my family.

This day meant celebration, personal achievement, and extreme gratitude with my family, friends, professors and mentors.”

Nothing about graduating in 2020 was normal, but seeing the Babson community come together in a time of such uncertainty was the perfect bittersweet end to the best four years of my life.

The Degree Conferral gave me the chance to celebrate with my family and reflect on all of the accomplishments I made alongside one of the most resilient classes Babson has seen.”

BAILEY NEBEN ‘20

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MARIA CRISTINA GOMEZ ‘20

As the first on my father’s side to attend a fouryear institution of higher learning, graduating #2 in my class was a very special moment for me and my family. Thanks to Babson, I have gained selfconfidence and esteem, the courage to be different, and once-in-a-lifetime mentors and friends – and nothing, not even a global pandemic, can minimize that!”

ADDIE RODRIGUES ‘20

ONE COMMUNITY

Conversations and action around racial justice do not stop here. We plan to build on this unity from this point forward. This initiative is bigger than Babson, and we believe that with the right initiatives and structures, Babson can build a community of effective, dedicated allies.”

BRITNEY AGUAYO ’21, JAYLEN BELL ’21, YSBELY SANTOS ’23, MOTOLANI OSINOWO ’21, AND ANDREA LINDNER ’22 OF THE FUNDRAISER’S LEADERSHIP COMMITTEE

JUNE 12, 2020 United by a shared vision to create positive change in the world, students from 81 Babson College organizations and athletics teams came together to stand up for justice through the Babson Students for Black Lives Matter fundraiser. The student groups, which included Babson’s Black Student Union, African Student Organization, Student Government Association, and Origins of Necessary Equality, collaborated to support the Black community by raising $42,548 for the NAACP Legal Defense and Educational Fund, the Equal Justice Initiative, and 100 Black Men of America. More than 475 donors supported the fundraiser that ran through July 2020, in honor of the 50th anniversary of Babson’s Black Student Union.

There is a mandate from the world for Babson to lead the change we envision. We must do better.”

KEN MATSUNO VICE PRESIDENT OF ACADEMIC AFFAIRS AND DEAN OF THE COLLEGE B A B S O N C O L L E G E 35

ONE GENEROUS COMMITMENT Donors like you make it possible to educate the next generation of entrepreneurial leaders. This year has shown how important contributions are at all levels to keep our College strong. We are enormously grateful for your combined generosity.

Circle of Distinction The Circle of Distinction recognizes the extraordinary commitment to the College by donors who contribute more than $1 million during their lifetime. Launched in 2019 with 83 individuals, we were pleased to welcome 8 new members in FY20.

President’s Society Through an annual gift of $1,919 or more, President’s Society members strengthen Babson by funding the College’s most urgent needs, making an immediate difference in the lives of students and faculty, while providing a stable source of income. In FY20, 1,396 President’s Society members contributed more than $83 million in support, and 460 young alumni joined the President’s Society Green Club.

Babson Legacy Society The Babson Legacy Society comprises alumni, parents and friends who have expressed their loyalty and gratitude to the College by including a gift to Babson in their estate plans.

These gifts offer important financial sustainability that helps secure Babson’s long-term success. To date, 249 donors have made formal estate commitments to the College.

Cornerstone Club The Cornerstone Club comprises thousands of Babson alumni, parents and friends who have made a gift to Babson for five or more consecutive years. In FY20, 2,935 individuals had given for at least five consecutive years. Among them is Robert S. Brewster ’63, who has been a steadfast donor to the College for more than 50 consecutive years.

Founder’s Fund Launched by Timothy DeMello ’81, the Founder’s Fund allows donors to contribute a percentage of their future equity position in their business to the College. At the time of the company’s sale, initial public offering or other liquidity event, the contribution is transferred to Babson. Depending on the size of the contribution, it may be applied to a range of current use or endowed funds at Babson. A total of 38 donors have supported the Founder’s Fund to date.

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ONE ENORMOUS THANK YOU In a year marked by both celebration and challenge, you stood by our students through your support and generosity. You came together as One Babson, demonstrating your commitment to ensuring Babson remains the gold standard for entrepreneurial leadership, and showing your compassion for our students and global community at a time when you were facing your own challenges. There is no better way to say what we all know to be true: You make what we do possible. You make Babson better.

If this report has sparked new ideas, you want more information on the programs and initiatives referenced, or you just want to reconnect with the College, we hope you’ll let us know.

Office of Advancement 231 Forest Street Babson Park, MA 02457 781-239-4800 giving@babson.edu Babson.edu/giving