W. P. Carey Foundation

Presented by the ASU Foundation, the Philanthropist of the Year Award celebrates those whose generosity and philanthropic leadership further Arizona State University’s mission. Those recognized by this honor are exemplars of how individual giving can have a meaningful impact on social issues and people’s lives.

The W. P. Carey Foundation, committed to educational leadership and philanthropy, is this year’s recipient of the 2025 Philanthropist of the Year Award.

• Established in 1990 by William Polk Carey.
• Dedicated to supporting educational institutions with the overarching goal of enhancing America’s global competitiveness.
• In 2003, the Foundation generously donated $50 million to ASU’s business school (renamed the W. P. Carey School of Business).

The W. P. Carey Foundation, established in 1990 by William Polk Carey, is dedicated to supporting educational institutions with the overarching goal of enhancing America’s global competitiveness. The Foundation is guided by Carey’s strong belief that education is the most powerful tool to improve the lives of people and society. With a giving philosophy deeply rooted in the Carey family’s multi-generational legacy of educational leadership and philanthropy, it focuses on results-driven institutions with a proven track record of success and exceptional leadership. This reflects William Polk Carey’s core beliefs: Doing Good While Doing Well and Investing for the Long Run, both of which continue to guide the W. P. Carey Foundation and W. P. Carey Inc., the publicly traded REIT (NYSE: WPC) he founded in 1973.

Much of the W. P. Carey Foundation’s giving is directed to organizations with longstanding ties to the Carey family, including Arizona State University. In 2003, the Foundation generously donated $50 million to ASU’s business school (renamed the W. P. Carey School of Business) in honor of William Polk Carey’s grandfather, John Samuel Armstrong. Armstrong played a pivotal role in establishing an institution of higher learning in Arizona in 1885, which later became Arizona State University.

The W. P. Carey Foundation’s mission comes to life at Arizona State University, with an enduring dedication that has significantly bolstered ASU’s ability to provide top tier learning opportunities and foster excellence in business education. Its contributions have ensured both students and faculty have access to the resources and opportunities needed to succeed. Over two decades, philanthropic investments exceeding $100 million have endowed faculty positions, expanded career services for students and alumni, catalyzed the launch of an innovative undergraduate real estate degree program, elevated the W. P. Carey Center for Real Estate and Finance and introduced an experiential learning lab devoted to real estate.

The Foundation’s impact on education extends beyond Arizona State University with significant gifts to institutions including University of Pennsylvania, Johns Hopkins University, University of Maryland, and New York-Presbyterian Hospital. Additionally, the Foundation contributes to Carey-affiliated primary and secondary schools and community organizations.