Page 30 - BusinessWest Sept. 29, 2021

UMass
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support the Commonwealth is to sup- port the UMass campuses and UMass students.”
The $50 million gift from the Man- nings is a transformational moment for the UMass system and would represent the largest-ever commitment received by the university even if it were not an upfront, cash gift.
“The significance of this gift can- not be overstated,” UMass President Marty Meehan said. “Rob and Donna are two of our own. As first-generation college graduates, they experienced the transformational impact UMass has on students’ lives. Rob and Donna have always led by example in their philan- thropy, and this remarkable gift is a call to action to the philanthropic com- munity. It says that UMass is a good investment and an opportunity to
have direct and immediate impact on the future of the Commonwealth. On behalf of the five campuses, we thank the Mannings for their incredible gen- erosity and commitment to students.”
The Mannings are Methuen natives and were high-school sweethearts. They both commuted to UMass Low- ell, with Robert receiving a degree in information systems management from UMass Lowell in 1984 and Donna receiving a nursing degree in 1985 and an MBA from UMass Lowell in 1991. They each received an honorary doc-
torate of humane letters from UMass Lowell in 2011.
Immediately after graduating from UMass Lowell, Robert Manning began working at MFS Investment Man- agement as a research analyst in its high-yield bond group, and credits
his UMass education with giving him a competitive edge. Over his career
at MFS, he rose to become president, CEO, and then chair. Under his leader- ship, MFS has grown to manage more than $670 billion in assets annually. He will retire this year. Donna Manning retired from Boston Medical Center in 2018. The couple plans to be heavily engaged in the UMass programs their gifts will support.
The Mannings were already among UMass’ greatest supporters, having committed more than $11 million
to UMass Lowell, where the Man- ning School of Business bears their name. On the Lowell campus, they have endowed several faculty chairs, sponsored a nursing-simulation lab, and established the Robert and Donna Manning Endowed Scholarship Fund. The Manning Prize for Excellence in Teaching is awarded to faculty on all five UMass campuses for high-impact teaching. u
Square One
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monthly sessions.
“Given that we’re still dealing with
COVID and that everyone has busy lives, I’m excited about 14 sign-ups,” DiStefano said. “The program will be here when they’re ready. It’s not a one-and-done.”
Far from it. Peter has committed his
“Those who grew up
in a family where they worried about how they were going to eat and get
to school often end up creating that same unstable environment for themselves when they are adults.”
firm to running the financial-literacy program for the next 30 to 50 years.
“That’s how long it’s going to take to make real change in the financial well- being of our community,” he said. “You have to be on the ground and commit to the long term.”
Changing the Narrative
This kind of commitment is neces- sary to break what DiStefano called
a self-fulfilling prophecy of bad outcomes.
“Those who grew up in a family where they worried about how they were going to eat and get to school often end up creating that same unsta- ble environment for themselves when they are adults,” she said. “They’re not surprised when they lose an apartment or don’t care about their credit score because they feel they couldn’t buy a car anyway.”
Just like savings, tough situations also have a way of compounding and growing. DiStefano gave an example of someone who lost a job, and in order to receive housing assistance, they had to be in arrears on their rent, which would then negatively affect their cred- it score. “This is what people are deal- ing with,” she said.
Melissa Blissett, vice president of Family Support Services at Square One, asks people what’s going on that pro- hibits them from living a better life and uses a tool called the family-goal plan to help them.
“The FR folks speak the same lan- guage we use with our families, and we both use the SMART goal approach,” Blissett said. SMART, a popular goal-
Square One
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