Matching fund expands Pritzker scholarships, inspires additional investment
Larry Gilbert, MBA’01, shared the story behind the gift he and his family made to establish and support the Pritzker School of Medicine Centennial Scholarship Fund, the matching funds it generated, and the additional gifts it inspired.
Can you talk about your connection to UChicago? When did you join the board, and how were you first introduced?
I view the University of Chicago and the Booth School of Business as the foundation and launching pad for my career. Talking to Andy Alper one day, I asked how he would recommend getting involved. He told me that the UCMC Board was a place where I could roll up my sleeves and really make an impact.
My wife, Marla, and I were active in a charity called the Starlight Children’s Foundation. So we’ve been involved in healthcare, but mostly around children’s causes and never on the board of an academic medical center.
With Andy’s guidance, I joined in 2023 and currently serve on the Governance Committee; the Government and Community Relations Committee; and the Audit, Compliance, and Technology Committee.
Can you explain more about the scholarship fund, why you chose a matching structure, and what the response has been?
When Marla and I met with the development team, we were thinking about this cause and the idea of a matching fund emerged as a way to maximize our gift. The matching fund was a way to welcome new donors, incentivize them to make gifts, and elevate those gifts to fund a full scholarship. At the same time, the Centennial provided a moment in time to highlight and add urgency to this campaign priority.
Our lead gift launched a 1:1 matching pool, which both amplified our contribution and encouraged others to invest in scholarships. It was not an idea I thought of, but I appreciated thinking together about how to turbocharge the gift and bring in other gifts.
We have already met our goal of securing eight new scholarship endowments to match. We have also seen another trustee join us to provide additional matching funds to the Centennial Challenge. A second trustee established their own family scholarship. A member of the Division of the Biological Sciences and the Pritzker School of Medicine Council set up a similar matching fund. More opportunities exist and people find the cause compelling.
What impact do you hope this fund will have on students? How do you think easing the financial burden of medical school shapes the kinds of physicians Pritzker is able to train?
These scholarships expand access for talented students with significant financial need—students who may be admitted to Pritzker but are uncertain whether they can afford to enroll. At the same time, reducing debt frees students to choose specialties based on their passion and drive.
This way we can be sure that when Pritzker admits the best and the brightest, they won’t feel they have to turn us down because of the cost. We want them to come here and train to be the next generation of physician leaders and innovators.