Class Act
The Class of ’71 Scholarship Fund
Each year, there is a student at Peddie who knows, as they walk through the halls, that the Class of 1971 has their back!
Established by members of the Class of 1971 as they prepared for their 50th reunion, the Class of 1971 Scholarship Fund provides financial assistance to students who would otherwise be unable to attend Peddie.
The first person to respond to the invitation to contribute was Richard “Richie” Sachs, a world-renowned maker of high-end bicycles. Sachs referenced a bike racing term in describing his gift: “When a rider takes the lead in a group so that others can draft behind him, he is said to be pulling the group. I think of this gift as taking my turn at the pull.”
Inspired by his example, several classmates followed with significant gifts. That same year, the Fund surpassed $100,000 and was officially established.
In the following fiscal year, the first student to be named in honor of the Class of 1971 Scholarship Fund was Ardanley Then ’27. Deeply grateful to the Class of 1971 for the opportunity to attend Peddie, Then shared: ”Your support pushes me every day to be worthy of your investment. Please know that your gifts are appreciated and that I am grateful.”
“Your support pushes me every day to be worthy of your investment. Please know that your gifts are appreciated and that I am grateful.”
— Ardanley Then ’27
Three years later, there was a second major “pull.” This time, it wasn’t from Sachs; it was from Howard Stein ’71. His bold initiative, soon known as the Stein Challenge, further galvanized support and strengthened class bonds. Stein pledged $71,000 if two conditions were met: The class had to collectively match that amount, and at least 25% of the class needed to contribute at any level.
Peddie, in turn, committed to adding another $71,000 if the challenge succeeded.
And it did. The Class of 1971 not only met but exceeded the goal, with 32% participation and $88,885 in new gifts and pledges. The result: $230,885 in new funding was added to a growing endowed fund that had already surpassed $100,000.
The Class of 1971 Scholarship Fund stands as a powerful testament to five decades of friendship, shared values and unwavering belief in the transformational power of the Peddie experience. Through their endowed fund, the members of the Class of 1971 continue to “take the pull”— lifting up future generations of students and helping to ensure an educational community where passion for learning grows.