STATEN ISLAND, N.Y. -- The School of Business at the College of Staten Island (CSI) has received a $7.5 million cash gift by Class of 1965 alumni and philanthropists Lucille and Jay Chazanoff of Todt Hill.

The $7.5 million will be used to support the Lucille and Jay Chazanoff School of Business, including accreditation pursuant to the Association to Advance Collegiate Schools of Business (AACSB).

The City University of New York approved naming it the Lucille and Jay Chazanoff School of Business at the College of Staten Island on Monday night.

President of CSI William J. Fritz said, “The fund will greatly augment the effectiveness, impact, and reach of our School of Business, providing levels of instruction and excellence that were once only imagined.”

“In addition, it exemplifies the power of personal legacy through private philanthropy, which strengthens our college and, ultimately, our community by giving us an opportunity to ascend consistent with our strategic plan. Lucille and Jay are part of the fabric of this Island, and we are deeply grateful for their support of the School of Business and the College of Staten Island,” Fritz said.

The Chazanoffs said it’s an honor to support a school that gave them the foundation for their futures.

“We met at Staten Island Community College and the education we received there gave us the foundation to launch successful careers and lives. We are proud to pay it forward to future students with the hope of giving them greatly enhanced career opportunities so that they may follow in our footsteps,” the Chazanoffs said.

Founding Dean of the School of Business Susan L. Holak called the gift “transformational” and said it will support faculty hiring, retention, and scholarships at school, as well as experiential learning and student success.

“The Chazanoff CUNY Fund demonstrates confidence in our school’s mission and programs, while affording us the flexibility and capacity to innovate at a faster pace. Lucille and Jay are exemplary alumni, exceptional members of our community, and generous philanthropists. We are immensely proud that our school will bear their name,” Holak said.

Income generated by the fund will support a wide range of objectives, including retaining faculty, many of whom have garnered national recognition as Fulbright Scholars, National Science Foundation grant recipients, and National Academy of Science expert panel members. CSI Business faculty hold positions on journal editorial boards, occupy leadership roles in professional organizations, and consult to federal, state, and local governmental agencies.

CHAZANOFFS’ HISTORY HELPING STATEN ISLAND

The Chazanoffs previously established the $100,000 Jay and Lucille Chazanoff ’65 Endowed Scholarship Fund, which supports full-time business majors at CSI.

In 2004, the couple established the family-run Carmine and Robert DeSantis Charitable Foundation – named after Lucille’s late brothers – which assists children with special needs. To-date, the Foundation has provided more than $1 million.

The Chazanoffs are also the lead benefactors of the JCC of Staten Island-sponsored Lucille and Jay Chazanoff Sunrise Day Camp, a free camp for children affected by cancer and their siblings.

Lucille, a Staten Island Advance Woman of Achievement in 1994, has worked with non-profits including the Visiting Nurses Association and Meals on Wheels. She also served on the CSI Foundation Board of Directors for 12 years, including as the Founding President of the Board of Directors.

She remains active on the boards of the Northfield Bank Foundation and the Richmond University Medical Center Foundation.

Jay was a representative and former board member of the former St. Vincent’s Hospital of Staten Island and was a part of the team that brought cardiac surgery to Staten Island. He also served as the Vice Chair of the Board of Directors of the Heart Institute for two years.

Since 2013, he has served as a member of the Board of Directors of the College of Staten Island. Next month, he is slated to join the UJA-Federation of New York Board of Directors.

Currently, he is also the vice president of the Jewish Community Center on Staten Island.

The $7.5 million gift is one of the largest known donations of its kind to a Staten Island non-profit institution. In 2007, Wagner College alumni Michael and Margaret Nicolais, class of 1949, donated $10 million to the Grymes Hill school.