The Wharton School of the University of Pennsylvania is delighted to announce a leadership gift from Barry R. Lipman, W’70 to enhance the Lipman Family Prize, an annual global prize that celebrates leadership and innovation among organizations creating positive social impact. Mr. Lipman’s gift will raise the award amounts for the esteemed Lipman Prize from $125,000 to $250,000 for first place recipients and from $12,500 to $25,000 to each of the second and third place recipients, providing even more generous support to the grateful recipients.

“Barry and Marie’s generosity has an incredible impact, not only on students here at Wharton but on the entire world,” said Wharton Dean Geoff Garrett. “By establishing this fund and continuing to expand upon it in amazing ways, they are providing life-changing support to recipients and to the communities that they serve through their innovative projects. We are extremely grateful for their generosity.”

This marks a second supplemental gift from Mr. Lipman since he originally established the fund with his wife Marie in 2011. In 2013, Mr. Lipman made an additional gift to the prize, increasing the award for winning organizations from $100,000 to $125,000 and providing an award of $12,500 to finalists.

“Our objectives in creating and enlarging this prize are threefold. First, to assist organizations to improve their operations and impact through a competitive process, which leads to collaboration with Penn and Wharton. Second, to encourage students to join the social impact sector. Lastly, to facilitate the transfer of successful elements of the finalist organizations’ models and practices across geography and need,” said Mr. Lipman. “After witnessing the success and impact of past recipients, it is our pleasure to grow the resources and opportunities. We have enjoyed being a part of this prize and look forward to many future positive experiences.”

The Lipman Family Prize has received applications from hundreds of organizations dedicated to a range of global causes including economic development, education, environmental sustainability, human rights, disaster preparedness, and poverty alleviation since it was first established. Finalists are selected through a rigorous evaluation conducted by a committee of faculty, students, and staff from across the University. In spring 2015, the Wharton School announced the recipient of the fourth annual Lipman Family Prize: Riders for Health, an international social enterprise bringing public health care services to rural communities in sub-Saharan Africa. The 2015 finalists included CareMessage, a social enterprise that provides mobile technologies to improve health literacy and self-health management, and Innovation: Africa, an organization bringing Israeli innovation to African villages through infrastructure projects. The new cycle of applications will be open from July 31-August 31, and the 2016 winner and finalists will be announced in early 2016.

Mr. Lipman is a co-founder of Goldfarb & Lipman—now Goldfarb Lipman—a leading California law firm. He is a 1970 graduate of Wharton’s Undergraduate Program.

About the Lipman Family Prize

The Lipman Family Prize at the University of Pennsylvania is an annual global prize that celebrates leadership and innovation among organizations creating positive social impact. Governed by a steering committee comprised of University faculty, staff, and Lipman family representatives, the Lipman Family Prize is administered by the Wharton School on behalf of the University of Pennsylvania.

About the Wharton School

Founded in 1881 as the first collegiate business school, the Wharton School of the University of Pennsylvania is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. With a broad global community and one of the most published business school faculties, Wharton creates economic and social value around the world. The School has 5,000 undergraduate, MBA, executive MBA, and doctoral students; more than 9,000 participants in executive education programs annually and a powerful alumni network of 94,000 graduates.