Saint Peter’s University receives largest gift in its 150-year history

By Emily Bader
Jersey City | Oct 12, 2018 at 10:20 am
Updated

Saint Peter’s University announced Friday it has received a $10 million gift from Joseph A. Panepinto.

Panepinto is CEO and president of Jersey City-based Panepinto Properties and a member of the Saint Peter’s board of trustees.

Saint Peter’s said this gift represents the single largest philanthropic gift in its 150-year history. The gift will help advance the development of the West Campus and provide more accessible education to its student body.

“We are incredibly grateful to Joe for this extraordinary gift and for his confidence in Saint Peter’s upward ascent,” Eugene J. Cornacchia, president of Saint Peter’s, said. “Throughout his career, Joe has maintained a commitment to his beginnings – in Jersey City and at Saint Peter’s. We take great pride in the unstoppable growth of Saint Peter’s and the city alike. There is no doubt that leaders like Joe have helped to make this mutual success possible.”

Panepinto is a Jersey City native who began his career in 1971 as a criminal lawyer. He then served as counsel of Jersey City’s planning board. He then founded Panepinto Properties.

“As a fellow Jersey City business owner with a long, personal history in the city, it is impressive and encouraging to see that the positive momentum of Saint Peter’s mirrors the boom of Jersey City,” Frank L. Fekete, managing partner of Mandel, Fekete & Bloom CPAs and chair of the board of trustees for Saint Peter’s, said.

“As a native of Jersey City it has long been my aim to help in the revitalization of this city. Some of the most important parts of our community are its charitable and non-profit institutions. Education is certainly a very important one. Therefore, by supporting Saint Peter’s we are supporting the future growth of our community,” Panepinto said.

Emily Bader | ebader@roi-nj.com | emilybader