MONTCLAIR, NJ – A generous person awarded an anonymous gift of $20 million to Montclair State University, state university officials.

The generous gift has become the largest donation that the University has received in its 107-year history.

MSU has decided that funds from the gift will go to support the University’s School of Business and to advance its mission of transforming today’s students into tomorrow’s business leaders, successful entrepreneurs and industry innovators.

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“Montclair State is both grateful and honored to receive this extraordinary gift and the recognition that comes with it of the quality of education that this University has made available to the people of New Jersey,” said Montclair State University President Susan A. Cole in announcing the gift. “At a time when governmental funding for public higher education institutions continues to decline, we are especially grateful for the substantial support of donors who believe in our commitment to meeting the expanding educational needs of the State.”

MSU is experiencing tremendous growth and expansion with more than 20,000 graduate and undergraduate students enrolled in over 300 doctoral, master’s and baccalaureate degree programs. Enriched scholarship and research activities from a top-tier faculty have also enhanced the University’s reputation both within New Jersey and beyond. This fall, another record-setting number of qualified applicants will result in continued growth in enrollments.

In September, the University will open a new state-of-the-art facility for its School of Business, under the leadership of a new dean, Dr. Greg Cant. The 143,000 square-foot School of Business building will provide the School’s 2,500 students with a $66 million high-tech learning environment, featuring a 150-seat lecture hall, classrooms and computer labs, a hub for the Feliciano Center for Entrepreneurship as well as market research/analysis labs and a financial trading floor.

”This historic gift provides us with an extra level of support to continue developing and expanding our high demand programs in Entrepreneurship, Accounting, and Sports Events and Tourism Marketing, and our innovative new programs in Business Analytics, Forensic Accounting and Real Estate,” said Cant. “We can also sharpen our focus on dynamic partnerships with leading national companies, such as KPMG and Enterprise, which provide hands-on learning and career opportunities for our students.”

This fall, the University will also open a new Center for Environmental and Life Sciences, a 100,000 square-foot, $55 million facility, providing an array of laboratories for research in the environmental and pharmaceutical sciences, as well as advanced instructional spaces. The University will also be breaking ground in the next few weeks on a $53 million facility for its growing programs in Communications and Media.