Hobart and William Smith Colleges

18 February 2025 • Alums Largest Gift in HWS History: $70 Million from L. Thomas Melly ’52 and Judith Hershey Melly

A transformative $70 million gift from Trustee Chair Emeritus L. Thomas Melly ’52, L.H.D. ’02 and Judith Hershey Melly L.H.D. ’16 will significantly impact HWS, enhancing student access, supporting academic excellence and fostering innovation.

President Mark D. Gearan has announced an unprecedented $70 million gift to Hobart and William Smith from longtime Trustee L. Thomas Melly ’52, L.H.D. ’02 and Judith Hershey Melly L.H.D. ’16. The gift is the largest donation in HWS history and will impact generations of students, faculty and staff, driving academic innovation, expanding access and affordability for students, and supporting strategic initiatives. It also marks one of the largest contributions to a college or university in 2024.

The $70 million gift was concluded last fall in meetings between the Mellys, Gearan and Vice President and Senior Philanthropic Advisor Bob O’Connor P’22, P’23. As a Trustee and Board Chair, Melly had long championed HWS’ growth and progress.

“It is my hope that this gift will make the future bright for Hobart and William Smith,” said Tom Melly in an interview in December. “I want to put this money to good use to benefit students who need it. I believe in the leadership of Hobart and William Smith and in the vision that Mark Gearan has created. That kind of leadership warrants our support.”

The Mellys’ generosity will fund the core priorities of “Further Together: The Campaign for Our Third Century.” This includes increased student access and affordability; expanded academic offerings such as the establishment of the Melly Institute for Business, Innovation and Leadership; strategic investments in innovation and creativity across campus; and prudent stewardship of the endowment – all priorities that firmly align with HWS’ mission to prepare students to lead lives of consequence in the liberal arts and sciences tradition.

Sadly, Tom Melly passed away in late December, but Gearan said the Colleges will honor Tom’s intent, recognize the commitment that he and his wife Judy made, and celebrate Tom’s lifetime commitment to his alma mater.

“It is my hope that this gift will make the future bright for Hobart and William Smith,” said Tom Melly in an interview in December. “I want to put this money to good use to benefit students who need it."

Gearan highlighted the Mellys’ enduring impact on HWS, noting: “In a sea of accomplishments and a lifetime of service, what inspired me most about Tom was his ambition for Hobart and William Smith. He urged me to ‘think big’ and prepare the Colleges for the future. He wanted our students to enjoy the opportunities he had as a result of his education. On behalf of our entire community, I thank Tom and Judy for their investment in our future.”

Judy Melly shared her hopes for the gift’s influence: “I trust that our action will inspire others to expand their ideas of their own philanthropy. Being part of the Hobart and William Smith community has brought joy to both of our lives, and we are very happy to return that joy.”

Tom Melly’s connection to HWS spanned decades. At Hobart, where he graduated with a degree in economics in 1952, he excelled as a student-athlete, playing football and lacrosse. After earning an MBA from New York University’s Stern School of Business and serving in the U.S. Marine Corps, he built a distinguished career at Goldman Sachs, retiring in 1984.

Appointed to the HWS Board of Trustees in 1981, Melly led numerous committees and capital campaigns and served as Chair for a decade. His contributions earned him recognition as the only Trustee Chair Emeritus in HWS history, a testament to his profound impact on HWS governance and advancement.

Melly’s philanthropic efforts were extensive, funding the Melly Academic Center, scholarships, and the Gearan Center for the Performing Arts. For his service, he received numerous honors, including an Alumni Citation, an honorary degree, and the Hobart Medal of Excellence.

The Mellys’ latest generosity will fuel a transformative era for Hobart and William Smith, advancing the institution’s mission to provide a world-class liberal arts and sciences education.

The gift will be structured to deliver maximum impact across three key initiatives:

Access and Financial Aid: An endowed fund will provide need-based financial aid to attract the most talented students to Hobart and William Smith, funding up to 100 scholarships of $10,000 each year.

Innovation and Creativity: Unrestricted support will create the Melly Strategic Innovation Fund, empowering HWS leadership to address immediate needs and drive initiatives that enhance campus culture, professional development and operational excellence.

Expanded Academic and Co-Curricular Programs: Funding will enhance HWS’ academic program, developing faculty in key programmatic areas and funding strategic initiatives that will differentiate the Colleges. This includes establishing the Melly Institute for Business, Innovation and Leadership, designed to integrate the values of an HWS liberal arts and sciences education with the skills and opportunities students need to be competitive when seeking career and graduate school opportunities.

“I look forward to working with faculty and staff colleagues to bring the Mellys’ vision to life as we carefully steward this extraordinary investment in Hobart and William Smith,” says Gearan. “This gift is without precedent in our history and comes at a pivotal moment in higher education. It underscores the enduring impact of Tom and Judy’s vision and generosity, paving the way for a vibrant future for HWS. Their legacy will be felt for generations, inspiring students and the broader community to dream bigger, achieve more, and make meaningful contributions to the world.”