Cornell alumnus Edwin "Ed" Baum and his wife, Holly Wallace, have committed $10 million to establish an endowment supporting the ILR School's High Road New York City program.
The contribution is the largest one-time gift commitment in the school's history and will fund student stipends, subsidized housing and program operations, Cornell announced Wednesday.
High Road New York City places students in eight-week summer internships with organizations focused on civic engagement, leadership, public policy and strategic development. Participants also attend workshops on reflection, collaboration and professional networking.
Baum, a 1981 ILR graduate, said he wanted to expand access for students who cannot afford unpaid internships. He worked several jobs while attending Cornell, including as a dishwasher and short-order cook.
Baum is a partner at Ashurst Perkins Coie, and Wallace is a managing director and senior financial adviser at Merrill Lynch. The couple previously supported the New York City program.
Cornell said the endowment is intended to make the program more accessible to working- and middle-class students, including first-generation students and those from immigrant families.
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