April 21, 2014 | Read Time: 1 minute
How much: $50-million pledge
Who got it: Posse Foundation, an organization that works to help ensure that minority and low-income students graduate
Who gave it: Timothy Ubben, retired chairman of Lincoln Capital Management, in Chicago, and his son, Jeff, founder and managing partner of ValueAct Capital, an investment firm in San Francisco
Donors’ connection to beneficiary: Jeff Ubben is chair of the group’s national board; his father is also a board member and co-founded the group’s Chicago chapter in 1999.
Where the money will go: To increase the group’s endowment
How the gift came about: Deborah Bial, Posse’s founder and president, approached the Ubbens about making a gift to coincide with the organization’s 25th anniversary.
Why he gave: Timothy Ubben first became familiar with Posse when he was board chairman at his alma mater, DePauw University, which has a group of students enrolled in the Posse program. “Posse is a simple but very elegant concept: You recruit kids from inner cities and put them in a posse of 10 kids and you send them to the same college, where they act as a support system for one another. Posse is making it work very well.”
