Stephen Adams, a 1959 graduate of Yale College, has announced a gift of $10 million to the School of Music on behalf of himself and the Adams Family Foundation.
This gift is the largest single contribution in the school's 108-year history.
Adams's announcement coincided with the 40th reunion of the Yale College Class of 1959, and it led to a new record for a 40th reunion Class gift.
Initially the gift will establish the Adams Family Foundation Endowed Scholarship Fund in the School of Music. At a later date and in consultation with the President and Dean, Adams and his wife, Denise, may direct funds toward other purposes at the School of Music in addition to the endowed scholarship.
Adams stated: "It is a great pleasure to be able to celebrate my 40th Yale College reunion by supporting Yale, which has meant so much in my life and my personal development. Denise and I are excited about recent developments at the University, particularly in the realm of the arts. We feel that the School of Music under Dean Robert Blocker is making enormous strides and demonstrating leadership in the preparation of new generations of musicians. This is an exciting period for Yale."
President Richard C. Levin, in thanking Mr. Adams, stated that "the University owes a debt of gratitude to a distinguished alumnus who has demonstrated such enduring loyalty to his alma mater. Support for financial aid is a priority at the School of Music and a major factor in ensuring our ability to attract and retain the finest students from throughout the world. All of us at Yale appreciate the far-sightedness and wisdom with which Stephen Adams has shaped his support for Yale."
Following his graduation from Yale as a major in American studies, Adams completed a Master of Business Administration degree at Stanford University in 1962 and started a career in finance and business. He soon established his own investment firm and has served as a director of numerous companies. He is currently the chief executive officer of Affinity Group Inc., as well as chairman of Adams Outdoor Advertising Co. Previously he has served as CEO of television stations, banks and other publishing entities.
The Adamses were formally introduced to the School of Music community at its 1999 Fall Convocation. In citing Denise and Stephen Adams for their exemplary cultural leadership, Dean Robert Blocker said: "This significant gift will make an immediate impact on our School and undergird our future efforts. We are indeed fortunate to have both Denise and Steve sit on the School's Board of Visitors, giving generously of their vision, experience, and business acumen --yet another invaluable gift."
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