The University of Chicago has received a $20 million donation from the Gracias Family Foundation to advance faculty research and student opportunities. The contribution will benefit the Gracias Family Center for Human Sciences and Wellbeing and the Gracias Family Research Fund, both located at the Becker Friedman Institute for Economics.
Part of the gift will be used to endow two professorships in economics and one in quantum science and engineering at the Pritzker School of Molecular Engineering. These professorships are the final appointments in a group of 30 endowed chairs established through the Wallman Fellows Initiative, which aims to strengthen research capacity at the university by increasing resources for faculty. Additionally, the donation will support student programs such as the Formula Society of Automotive Engineers (Formula SAE) Fund at UChicago PME.
President Paul Alivisatos commented on the significance of the gift: “This generous gift will empower our faculty and students to explore new frontiers of knowledge across a range of disciplines, including quantum science, engineering and economics. We’re grateful to the Gracias Family Foundation for their support.”
The Becker Friedman Institute plans to use this funding to expand on its approach pioneered by the Kenneth C. Griffin Applied Economics Incubator, which fosters new initiatives and policy innovation. John List, BFI’s faculty director and Kenneth C. Griffin Distinguished Service Professor, stated: “The Gracias Center for Human Sciences and Wellbeing will advance our economic understanding of beliefs and the science of scaling. Using the proven incubator model, we will focus resources on one critical issue at a time, thus accelerating actionable, data-driven solutions to the most pressing societal challenges. This gift will truly help us change the world.”
The three new endowed professorships reinforce UChicago’s standing as an international research leader. When appointed, these professors will join the Wallman Society of Fellows, which honors faculty who contribute significantly to research and teaching.
Nadya Mason, dean of the Pritzker School of Molecular Engineering and interim vice president for Science, Innovation and Partnerships, highlighted the impact on both research and student experiences: “The gift of an endowed professorship in quantum science and engineering will help UChicago PME continue to lead research and education in this cutting-edge field. At the same time, the gift enables key experiential and multi-disciplinary learning for students in the College through the Gracias Family Formula SAE Fund. This unique program challenges students to design and build their own formula-style vehicles—developing their engineering, creative and collaborative skills.”
Antonio Gracias, founder of Valor Equity Partners and University Trustee, emphasized his connection to the institution: “As a University Trustee and a proud graduate of the UChicago Law School, I am well aware of the positive impact that UChicago scholarship has on the world, and I am proud that the Gracias Family Foundation will play such an important role in that effort. I cannot wait to see what UChicago’s brilliant scholars are able to accomplish.”