MBA 50th Anniversary Gift

With the 50th Anniversary of the MBA Program, we have a unique opportunity to come together as a community and support future business leaders. We hope you will participate with a personal contribution toward MBA Scholarships. Your gift will count toward your class participation rate and the $5 million goal set for this anniversary.

William & Mary receives landmark $20 million for MBA Scholarships

As part of the largest gift in William & Mary history, the MBA Program received an anonymous commitment of $20 million for graduate student scholarships. The goal of the scholarship program is to support students who demonstrate outstanding academic achievement and a capacity and passion for leadership.

As part of their commitment, the donors have issued a matching challenge to double the size of scholarship support awarded by the School. The donors will match gifts to MBA Scholarships dollar-for-dollar to help attract the best and brightest students. This transformational gift will only be fully realized if the Mason School community comes together to surround and support the Program.

To help meet the challenge and commemorate the 50th Anniversary, the alumni committee has set an ambitious goal of $5 million for MBA Scholarships.


Dr. Deborah Hewitt '75 and Jim Hewitt

"The top schools have large endowments and provide scholarships for the best students. If you're going to get those students, you have to have scholarship money."

Deborah Hewitt loves the atmosphere that inspires advanced learning at William & Mary as much as she did when she was an undergraduate in the early 1970s. It's one reason why she and her husband, Jim, have always given back to the university.

But the international finance expert says her primary inspiration to support the Raymond A. Mason School of Business—in addition to her position as a clinical professor of economics and finance at William & Mary—is the caliber of student that routinely thrives here.

“The students are why it’s great,” says Hewitt. “To have the opportunity to continue to interact with students of this quality—it keeps you on your game. I learn something new from them every day.”

To ensure that the university continues to attract and support these promising MBA candidates, she and her husband, Jim Hewitt, have made significant contributions toward student scholarships. Deborah says the time for private support has never been more critical, given that state funding at the graduate level is so low, and competition to draw the best and brightest is so high.

“The Mason School’s MBA program has to be able to attract and support the excellent students who have multiple offers from other highly ranked schools,” she says. “Often the reason we lose them is money, but you can’t blame someone who can go to another great school and come out with less or maybe no debt.”

That's the truth and that's a shame, she says, because over the course of its 50 years, the Mason School has cultivated an MBA program that continually draws globally minded, team-oriented students set to influence the world.

"Our MBA graduates receive offers from and accept positiions at some of the top companies in the world including Amazon, Deloitte, IBM and Microsoft. We are building a strong alumni network in these and other great companies which continue to look to usto help them find and place extraordinary talent. Scholarships allow us to continue to recruit top talent which continues to build our network, our reputation, and opportunities for our future students."


Dr. Deborah Hewitt is clinical professor of economics and finance and former Assistant Dean for MBA programs at the William & Mary’s Mason School of Business and a trustee emeritus of the College of William & Mary Foundation Board. A member of Phi Beta Kappa, she earned her undergraduate degree in economics with high honors from William & Mary in 1975.

In addition to her work at the university, she is an international trade and finance expert, author and former economist for the U.S. Treasury, as well as a member of the Investment Advisory Committee of the Virginia Retirement System (VRS). She has appeared in recent years on Fox Business News, Bloomberg TV, and National Public Radio.

Previously, Hewitt taught international economics and finance at UCLA and at Claremont Graduate School. She was also president of the Claremont Economics Institute, an economics consulting and forecasting firm, and chair of the Claremont Fund, a family of mutual funds.

Having lived and worked abroad for nearly two decades, she continues her international travels by leading MBA Global Immersion classes to China, India, Brazil, South Africa and other countries.

Deborah and her husband Jim, attribute their meeting and marriage to their shared love of Williamsburg and The College. Jim grew up in Williamsburg and lived for years on Duke of Gloucester Street. They were married in the Wren Chapel, and raised their three children in the 'burg."

Jim received a B.S. in Business Administration from the University of Richmond and his MBA from the University of Virginia. He had a 25 year career in international finance with a global oil company, working in over 10 countries, particularly in Asia.

Upon retiring to Williamsburg in 1999, Jim taught Leadership in the Business School for several years, and then headed the Corporate Field Consultancy Program for eight years.


Edward T. Tokar MBA '71

"I'm happy to say that in its 50th year, this is a program that only continues to get better"

Fifty years ago, the Raymond A. Mason School of Business welcomed its first class of MBA students. And while milestone anniversaries are common cause for celebration, there’s nothing arbitrary about this one, says Edward Tokar, who earned his MBA in 1971.

“I am happy to say that in its 50th year, this is a program that continues to get better,” says the former head of investments worldwide for Honeywell and CEO of its investment subsidiary Allied Capital Management. “The leadership has never been stronger, career services have continued to improve and the program is growing and thriving. This is a 50th anniversary that should be special for all of us, whether we graduated 40 years ago or 4 years ago.”

Tokar says that, in light of the milestone and the school’s continuing outstanding progress, the most effective way to share in the celebration is for alumni to reconnect and consider making a gift in whatever way inspires them.

“This is the time to ensure we continue on the right track for the next 50 years,” he says. “Through everyone’s gifts, William & Mary can establish financial security and compete for top students. We need the best students, and we need to be able to ensure they can be placed in successful careers. The 50th anniversary marks a great opportunity to show an ongoing commitment to our success.”

Tokar’s record of generosity to the Mason School runs deep, and was recently highlighted by a $3 million gift to create an irrevocable charitable remainder trust that will eventually establish the Edward T. Tokar Professorship.

In addition, Tokar has made gifts for special projects used to recruit top speakers to the MBA program, including Honeywell CEO Dave Cote and Frank Fahrenkopf, co-founder of the Commission on General Election Presidential Debates and former chairman of the Republican National Committee.

“Business leaders with incredible skill have a great impact on our MBA students,” he says. “The lessons they share can stick with you for many years and encourage our MBAs to shoot higher and do things you didn’t consider before.”

“That’s why I work to bring speakers to the program, but everybody has different ways to help benefit the school. The point is that people focus on whatever it is they can do, and that we all focus on doing something for a school that has provided us so much.”


Edward T. Tokar received an MBA from the College of William & Mary in 1971 and recently retired as a senior managing director-investments at Beacon Trust Company in Morristown, N.J.

In addition, he serves on the Board of Directors of the GDL Fund, the Gabelli Dividend & Income Trust, and the Mason School of Business Foundation, and is an Emeritus Trustee of the College of William & Mary Foundation.

He retired as vice president of investments at Honeywell International and as CEO of its investment subsidiary Allied Capital Management. Previously, he served as a director at CH Energy Group and has also served as an advisor or director for a number of public companies and private investment partnerships.


Executive MBA Alumni

On September 10, 2016, the Raymond A. Mason School of Business celebrated the 30th Anniversary of the Executive MBA program.

To commemorate this special occasion, Jeffery R. Gardner EMBA ’97 and his wife Christine have generously committed to match gifts up to $250,000 to the Executive MBA Alumni Chair endowment.

“The tools that I learned at William & Mary have made all the difference in my career,” said Gardner. “I left better equipped to lead because of the professors and students I came to know during my time there.” Mr. Gardner is CEO of Monitronics International, one of the country’s largest home security and alarm monitoring service providers based in Dallas, Texas. Previously he was CEO of Windstream, a Fortune 500 provider of advanced network communications.

Mr. Gardner’s gift will enhance the Executive MBA Alumni Chair, an endowed fund established by alumni in 2001, and valued at $350,000 prior to Mr. and Mrs. Gardner’s gift. Since its inception the Chair has been held by Professor Larry Ring who designed the program. The program welcomed its first students in January 1986. Mr. Gardner served as guest speaker on September 11, when the program’s 30th class commenced.

Gifts to the EMBA Chair will also be recognized at the 50th Anniversary Celebration.

Class Participation Leaders

Alumni participation reflects the level of engagement of a school's students and alumni. Participation is a vote of support for the Mason School, and William & Mary boasts one of the highest alumni participation rates for public universities. You can help your class rise to the top of the competition. Give to the Mason School - any gift, regardless of size, helps your class participation rate.

The class leadership board is updated regularly. Gifts made on or after January  1, 2016 to any area of the Mason School qualify for your class participation rate. Please note that this does not reflect giving to other areas of William & Mary.

Full Time

2017 100%
2016 98%
1974 36%
1984 33%
1975 31%


2016 100%
2015 60%
2002 23%
1997 22%
1988 22%


2004 17%
1991 16%
2005 16%
1996 15%
1995 14%

Mail your gift to:

William & Mary Business School Foundation
PO Box 1693
Williamsburg, VA 23187-1693
Remember to include a note designating your gift to the MBA Scholarship Fund (3412).

If you have questions, please contact Director of Development, Kimberly Sperling, at or (757) 221-7848

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