$55 million gift from alumnus Stephen Ashley establishes historic Ashley School of Global Development and the Environment at university
In a landmark act of philanthropy that highlights a lifelong dedication to education, innovation, and community impact, Cornell University alumnus Stephen B. Ashley has donated $55 million to his alma mater’s College of Agriculture and Life Sciences (CALS).
The gift establishes the Cornell CALS Ashley School of Global Development and the Environment, the largest donation in the college’s history.
The new school merges the Department of Global Development and the Department of Natural Resources and the Environment, creating an integrated entity dedicated to tackling interconnected global issues such as climate change, food security, biodiversity loss, poverty, migration, and sustainable resource management.
By combining strengths in agricultural sciences, environmental studies, social sciences, economics, and community outreach, the Ashley School advances transdisciplinary research, teaching, and extension aligned with Cornell’s land-grant mission to deliver practical benefits to New York State and communities around the world.
Stephen B. Ashley earned his bachelor’s degree from Cornell in 1962 and his MBA in 1964. He has maintained an extraordinary level of involvement with the university for over half a century, including 55 years on the University Council, 16 years on the Cornell Board of Trustees, and 10 years as co-chair of the Far Above capital campaign, which raised $6.3 billion. In recognition of his exceptional service, he received the Frank H.T. Rhodes Exemplary Alumni Service Award in 2016, Cornell’s highest honor for alumni contributions.
Sources from Cornell University, including official announcements and profiles, describe him as an emeritus trustee and a key figure in university governance and fundraising efforts.
A Rochester, New York-based business leader, Ashley is the founder, chairman, and CEO of The Ashley Companies (also known as The Ashley Group or Ashley Management Corporation), a family of firms specializing in property management, brokerage, financing, and real estate investment.
With more than 50 years of experience in the real estate and financing industries, he has focused on managing residential and commercial properties, primarily in the Greater Rochester area and suburban Buffalo.
His career also includes leadership roles such as president of the Mortgage Bankers Association of America, chairman of Fannie Mae (Federal National Mortgage Association), and positions with entities like Sibley Mortgage Corporation and Genesee Corporation.
He has served on boards including Manning & Napier Advisors, Inc., and the George Eastman Museum (as emeritus trustee).
Ashley’s ties to Cornell are deeply personal and multigenerational. He met his wife, Janice, while studying at the university, and they were married in Anabel Taylor Chapel.
In statements from Cornell’s official announcements, he has expressed profound gratitude: “My family has had a strong, multigenerational relationship with Cornell. Over the years, Cornell has influenced much of my personal and professional life. I am delighted to be able to support this initiative, which has been so thoughtfully framed and structured. I appreciate how it creates even stronger collaborations between agriculture, environmental science, economics and research to positively impact communities.”
The endowment supports substantial expansion for the new school, including the addition of at least 10 new faculty members. This includes three economists with joint appointments in CALS and the Cornell SC Johnson College of Business, specializing in agricultural, development, and environmental economics through the Charles H. Dyson School of Applied Economics and Management.
The structure bridges ecological, economic, and social perspectives to enhance problem-solving. Richard Stedman, professor of natural resources and the environment and former department chair, serves as interim director and has begun engaging faculty, staff, and students to shape the school’s path forward.
Cornell President Michael I. Kotlikoff highlighted Ashley’s enduring influence: “Steve Ashley’s decades of leadership, advocacy and support for Cornell have had a profound impact on the university. This investment to create the Ashley School is both timely and visionary, allowing us to bring together the expertise in agricultural, life, environmental and social sciences that underpin environmental and human well-being locally and globally. We are so grateful to Steve for his generosity, partnership, and friendship.”
Benjamin Houlton, the Ronald P. Lynch Dean of CALS, underscored the gift’s transformative potential: “The Ashley School will create a dynamic ecosystem for discovery, experiential learning and innovation, transcending disciplines to spark scientific breakthroughs and real-world economic benefits for New York state and the world. Strengthened by our world-class expertise, global leadership and land-grant mission, CALS is uniquely positioned to work with our partners to train the next generation and support a sustainable planet for all.”
The donation has garnered attention in higher education and regional media for exemplifying how dedicated alumni leadership and philanthropy can drive institutional progress.
As the Ashley School develops under interim guidance and expands its faculty, it stands as a lasting tribute to Stephen B. Ashley’s belief in education’s power to address global challenges through collaborative, evidence-based approaches.