Mixing Business and Altruism Nets Gifts From College Alumni

Barry Friedman, a home-mortgage consultant in California, Md., and a sailing enthusiast, wanted to lend his professional services to raise money for a new boathouse at his alma mater, St. Mary’s College of Maryland. Beginning last fall, he looked to other St. Mary’s graduates and fellow sailors to join him by creating a network of alumni who donate a portion of their fees when they provide services to other graduates or employees of St. Mary’s. The effort has raised $6,000 toward its goal of $30,000 over the next three years.

Each time Mr. Friedman helps get a loan for alumni or employees of St. Mary’s, he gives $300 of his fee to the college. And each time Mr. Friedman collaborates on a deal with Jacki Meiser, a lawyer who previously worked at St. Mary’s, she donates $100 of her fee for any transaction involving alumni and employees. Two other local alumni and friends of Mr. Friedman — an automobile-insurance provider and a real-estate agent — have also agreed to donate a percentage of their fees every time they work with a supporter of the college. Their clients receive a thank-you letter from St. Mary’s.

Mr. Friedman says he hopes the network will expand further once more people learn about it through advertising at campus events and a mass mailing St. Mary’s is preparing to send this month. Eventually, he wants St. Mary’s alumni in other states to take an approach similar to the one he developed in Maryland.

Torre Meringolo, vice president of development, says the college worked closely with Mr. Friedman to make sure the effort would not be seen as promoting individual businesses. “We wanted to create a model that was adaptable enough so others could use it,” he says. Real-estate agents, lawyers, insurance agents, or anyone else who provides services can participate and decide what percentage of their fees they will give to the college.

For more information, contact Torre Meringolo, Office of Development, St. Mary’s College, 18952 East Fisher Road, St. Mary’s City, Md. 20686; (240) 895-2000.