Accelerating impact: matching fund expands Pritzker scholarships

Larry Gilbert, MBA’01, spoke to the UCMC Board of Trustees on April 16, 2026 about the gift he and his family made to establish and support the Pritzker School of Medicine Centennial Scholarship Fund.

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.

How did you begin investigating opportunities at UChicago Medicine as you thought about how to shape your impact as a trustee?

Marla and I typically approach philanthropy with the philosophy of providing unrestricted support, because if we believe in an organization, we don’t want to tell the organization how to spend those dollars. However, I had an opportunity to learn about the institution’s priority areas and champion one that was meaningful to our family. I met with Dean Arora and I was compelled by her vision of reducing the burden of debt—particularly the idea of ensuring that support reaches students who might otherwise be unable to attend Pritzker. So, I would encourage new trustees to take the time to understand what UChicago Medicine does, because it’s vast, and to use your liaison in the development office to shepherd you through the system. Doing so will educate you about what we do and where you can be impactful as a board member. But there may also be an area of interest that you have no idea exists—that was my experience.

Based on your conversations with Dean Arora, your family made a gift to establish and support the Pritzker School of Medicine Centennial Challenge Scholarship Fund. What drew you to this area?

We have a daughter in medical school who is currently preparing for her board exams. Her journey gave us a firsthand view of the time and monetary commitment required. Having that kind of debt hanging over a student creates a dynamic where they may decide they can’t afford medical school or they can’t pursue certain fields in medicine. We have to incentivize kids to go into fields where they are needed and they’re passionate about, rather than having them feel forced to choose based on monetary considerations.

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.

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.