Hofstra scores $35M gift for business school

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A Hofstra University alumnus has left $35 million to fund undergraduate scholarships for students attending the Frank G. Zarb School of Business, the university announced Friday.

The gift is from Charles Frei, from the university’s class of 1955, who died in October of 2022. It marks the largest gift towards undergraduate education, and the second largest gift in Hofstra’s history, according to a news release.

Hofstra will endow Zarb scholarships in Frei’s name, supporting students in perpetuity beginning in the 2025-2026 academic year.

“We are deeply honored and profoundly grateful for the generosity of our distinguished alumnus Mr. Charles C Frei,” Hofstra University President Susan Poser said in the news release.

“This gift marks a transformative moment in Hofstra’s history, and Mr. Frei’s legacy will shape the futures of countless students,” Poser added.

Frei earned his BBA in marketing at Hofstra, where he was also a member of Gamma Rho Epsilon fraternity. While details were not immediately available about his career, Frei was a businessman who left his gift, “which expresses his gratitude to Hofstra for providing him with a well-rounded education,” according to the university.

“Mr. Frei’s generous gift solidifies the Frank G. Zarb School of Business as a global leader in business education,” Janet Lenaghan, dean of the Zarb School of Business, said in the news release.

“The Frei endowment will further empower our students with enhanced resources and opportunities, supporting their preparation  as the next generation of business leaders and enabling them to pursue their academic and professional aspirations with greater ease and confidence,” Lenaghan added.