New College receives largest donation in its history

J. Robert “Bob” Peterson and Pasqualina “Lee” Peterson were mainstays in Sarasota's philanthropy scene for years.

Their generosity has continued since their respective passings in 2012 and 2017. Most recently, the Petersons' estate gifted $4 million to the New College of Florida — the largest donation in the college's 61-year-history. 

“We are thrilled and humbled by the extraordinary gift from Bob and Lee Peterson, as well as the support of their children,” said New College President Donal O’Shea in a statement. “This is a game-changer for New College and will make all the difference in the way that we can support our students.”'

“We were stunned by the Petersons’ generosity," said MaryAnne Young, executive director for the New College Foundation. "Through the Petersons’ foresight, they made a transformational gift to New College, which will serve generations of students in the future. It couldn’t have come at a better time, as our students’ needs increase in every regard. We are so grateful to the whole Peterson family.”

Young said the funds will likely be used for endowments and supporting New College students, as per the wishes of the Peterson family. 

The donation is the latest in a series of contributions from the Petersons.

Bob Peterson served on the New College Board of Trustees for many years, and the Lee & Bob Peterson Residence Hall on New College Campus was named in their honor.  Jeffrey Peterson, president of the Lee and Bob Peterson Foundation, said his father was a strong believer in philanthropy being a requirement of success. 

"(My father) believed that education was transformative," Jeffrey Peterson said. " He liked quality education and thought that New College offered that."