Hofstra receives $35M donation, second largest gift in its history


Hofstra University announced today that 1955 graduate Charles C. Frei has bequeathed $35 million to the university.

The record-setting gift from Frei, a successful businessman who died in 2022, will fund undergraduate scholarships for students within the Frank G. Zarb School of Business. The donation marks the largest gift toward undergraduate education and the second largest gift in the Hofstra’s’s history.

Beginning in the academic year 2025-2026, Hofstra University will endow Zarb scholarships in Frei’s name to provide perpetual support to students, the Hempstead school said.

Hofstra President Susan Poser expressed gratitude, stating, “We are deeply honored and profoundly grateful for the generosity of our alumnus Charles C Frei. This gift marks a transformative moment in Hofstra’s history and Frei’s legacy will shape the futures of countless students.”

Frei earned a BBA in marketing at Hofstra University and was a member of the Gamma Rho Epsilon fraternity.

Janet Lenaghan, dean of the Zarb School of Business, emphasized the significance of Frei’s gift.

“Frei’s generous gift solidifies the Frank G. Zarb School of Business as a global leader in business education,” she said. “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.”

The Frank G. Zarb School of Business offers undergraduate majors and minors, as well as graduate degree programs through five departments, covering various disciplines of business.

Top photo: Courtesy, Hofstra University.

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