PSU: “Fuller family offers $23.3 million gift, stewardship of historic property”

BobPSU92

Well-known member
Oct 12, 2021
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355 acres, long safeguarded by sustainability and regenerative agriculture advocates Mortimer B. Fuller III and Susan Fuller, will facilitate multidisciplinary research, hands-on learning and collaboration with external partners

”WAVERLY, Pa. — Citing the urgent need for sustainability research, innovation and engagement, Mort and Sue Fuller, longtime philanthropists and advocates for ecological restoration, have initiated a transfer of Overlook, their 355-acre estate in North Abington, Pennsylvania, to the ownership and stewardship of Penn State. The Fullers’ gift, which also includes a monetary commitment, has a total valuation of $23.3 million and inaugurates a new era as "Penn State Fullers Overlook." The property will provide opportunities for cutting-edge research, facilitate on-site learning and enable collaborative partnerships with sustainability-oriented organizations.

“With this extraordinary gift, Mort and Sue are making a commitment not just to our institution, but to Pennsylvania and the future generations who will benefit from the education and discovery that will unfold at Fullers Overlook,” said Penn State President Neeli Bendapudi. “Their generosity will serve as a cornerstone of Penn State’s work to advance sustainability and resilience in our commonwealth and beyond, serve as a responsible steward of our commonwealth’s natural beauty and resources and drive innovation in sustainability through world-class academic and research opportunities. I extend my heartfelt gratitude to the Fullers for their visionary leadership and their commitment to sustainability, education and innovation.”

The University will administer Fullers Overlook through Penn State Sustainability, which will facilitate faculty research, student engagement, curriculum development and community and external partnerships. Corey Gracie-Griffin, professor of architecture and director for research, will serve as the inaugural director.”



$23.3 MM not for football. How does this help us beat T™️osu? For f*ck’s sake.
 

TheBigUglies

Well-known member
Oct 26, 2021
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How long will it take for someone on the BOT to snatch this up and use it for a private real estate development? Sort of like they did with Circleville Farm when that couple donated it to PSU but now contains a Dr's office and private apartment buildings??
 

BobPSU92

Well-known member
Oct 12, 2021
16,252
24,886
113
How long will it take for someone on the BOT to snatch this up and use it for a private real estate development? Sort of like they did with Circleville Farm when that couple donated it to PSU but now contains a Dr's office and private apartment buildings??

Future headline:

PSU trustees burn Fullers Overlook sustainability research site down to the ground, pave the way for Ira Lubert to build casino

😞
 

psuro

Well-known member
Oct 12, 2021
7,272
16,047
113
355 acres, long safeguarded by sustainability and regenerative agriculture advocates Mortimer B. Fuller III and Susan Fuller, will facilitate multidisciplinary research, hands-on learning and collaboration with external partners

”WAVERLY, Pa. — Citing the urgent need for sustainability research, innovation and engagement, Mort and Sue Fuller, longtime philanthropists and advocates for ecological restoration, have initiated a transfer of Overlook, their 355-acre estate in North Abington, Pennsylvania, to the ownership and stewardship of Penn State. The Fullers’ gift, which also includes a monetary commitment, has a total valuation of $23.3 million and inaugurates a new era as "Penn State Fullers Overlook." The property will provide opportunities for cutting-edge research, facilitate on-site learning and enable collaborative partnerships with sustainability-oriented organizations.

“With this extraordinary gift, Mort and Sue are making a commitment not just to our institution, but to Pennsylvania and the future generations who will benefit from the education and discovery that will unfold at Fullers Overlook,” said Penn State President Neeli Bendapudi. “Their generosity will serve as a cornerstone of Penn State’s work to advance sustainability and resilience in our commonwealth and beyond, serve as a responsible steward of our commonwealth’s natural beauty and resources and drive innovation in sustainability through world-class academic and research opportunities. I extend my heartfelt gratitude to the Fullers for their visionary leadership and their commitment to sustainability, education and innovation.”

The University will administer Fullers Overlook through Penn State Sustainability, which will facilitate faculty research, student engagement, curriculum development and community and external partnerships. Corey Gracie-Griffin, professor of architecture and director for research, will serve as the inaugural director.”



$23.3 MM not for football. How does this help us beat T™️osu? For f*ck’s sake.
$23.3 MM is a lot just by selling brushes door to door.
 

psuro

Well-known member
Oct 12, 2021
7,272
16,047
113
Medical Doctor Touch Down Student Government Association?


Confused What The GIF by Sesame Street
 

BobPSU92

Well-known member
Oct 12, 2021
16,252
24,886
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PSUJam

Well-known member
Oct 7, 2021
9,816
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So this is way up in Northeast PA so it has a chance to stay the way it is instead of being sold off because it seems to be out in the middle of nowhere: https://www.fullersoverlook.org/
It won't be snatched up by anyone because the land lies amongst the most powerful people in NEPA and possibly the entire state of PA. @rudedude can testify to that. Used to be great crappie fishing at the pond on the property, btw.
 

WestSideLion

Well-known member
Oct 6, 2021
3,018
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How much of the gift was in cash vs. land? A quick search showed another listing in Waverly, PA at $11k per acre. That would put the value of this land at a minimum of $4M. My hunch is for tax purposes, Overlook if valued at 3x that. So another $10M to $12M in money. That may actually pay the cost of upkeep on Overlook. Otherwise, it's a brilliant move by the Fullers to gain tax benefit and shed a big annual upkeep cost.
 
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