University of Rochester receives $17 million from Wegman estate

by | Apr 16, 2014 | Estate Planning |

The University of Rochester recently accepted a $17 million gift from The Wegman Family Charitable Foundation. $10 million has been earmarked for the University of Rochester’s Institute for Data Science. Another $7 million will go directly to the Golisano Children’s Hospital.

The WFCF has existed since 1991 and is funded by Robert Wegman’s estate. The WFCF focuses its work on heath care, workforce development and education.

The $7 million to the children’s hospital represents the hospital’s second largest gift and is just a part of the $45 million that has already been raised for a new facility.

The new children’s hospital should open in 2015. It will include a larger Neonatal Intensive Care Unit and more than 50 private patient rooms. The hospital’s focus will be on patient and family-centered care with rooms for families to connect, a healing garden and even a special area where family members can do laundry, shower or enjoy home-cooked meals while their loved ones are patients in the hospital.

The $10 million for the Institute for Data Science is the fourth largest gift to the University’s giving campaign, The Meliora Challenge. It will be used to build a facility to house faculty in the data science research disciplines, including science, medicine, computer, science, engineering, education, business, education and other subjects.

The Wegman name will be prominently featured in the new Institute for Data Science. The new landmark building will be named after the Wegman family.

The gifts from the WFCF are made possible through thoughtful estate planning by the late Robert Wegman. In addition to the $17 million donated recently, the WFCF has also gifted $3 million throughout the University of Rochester’s many programs.

While not everyone has the assets to gift $20 million to an organization such the University of Rochester, everyone can benefit from an estate plan.

Source: The University of Rochester, “The Wegman Family Charitable Foundation Gives $17 Million to University of Rochester” Sara Miller, Apr. 01, 2014