Major Gift Will Create Two Endowed Chairs, Support Athletics

Richard and Tara Wood give $4.5 million to Washington to further academic offerings in leadership and business and boost tennis and sailing.

Richard ’91 and Tara Wood P’27 have made a substantial gift to Washington College that will fund endowed chairs in leadership and international business, as well as improvements to the College's tennis and sailing initiatives. 

The $4.5 million multi-year contribution aligns with Washington’s strategic priorities and will be divided into several initiatives with $2.5 million allocated to the creation of the Wood Director of Leadership. This role will attract top-tier leadership experts to campus for special programs, oversee leadership program development, and support students in their leadership journeys.   

“This new role will allow us to expand our co-curricular offerings and provide dynamic leadership development experiences that will benefit our students greatly,” said President Mike Sosulski. “We are incredibly grateful to the Wood family for their commitment to enhancing the distinctive opportunities we provide our students and for their visionary leadership in supporting the College’s historic mission to prepare the next generation of citizen leaders.” 

The gift from Mr. and Mrs. Wood also includes funding for: 

• $750,000 for the establishment of the Wood Family Chair within the Business Management Department for International Business. The gift is a match extending the capabilities made possible from a $5 million gift from the JHC Foundation, a Warehime family foundation, made in 2024 to support Business Management programming;  

• A $1 million challenge grant to support the construction of an indoor tennis facility; 

• And $250,000 to support the Washington College Sailing Program. 

These initiatives aim to advance the mission of the College and position it for long-term sustainability and growth as well as enhancing the student experience.    

"Tara and I are deeply committed to Washington College's enduring mission of cultivating well-rounded citizen leaders," said Wood. "It is our sincere hope that these endowed chairs in leadership and international business, along with the support for athletics, will empower generations of students to develop the knowledge, skills, and character necessary to make meaningful contributions to the ever-evolving world. This investment will not only enhance the academic and co-curricular experiences at Washington, but also ensure its continued success in shaping principled and impactful individuals for many years to come." 

- Dominique Ellis Falcon