Centennial drive gets 4M donation

The 'kid from Struthers' believes YSU will play a vital role in the area's rebirth.
By HAROLD GWIN
VINDICATOR EDUCATION WRITER
YOUNGSTOWN -- Tony Lariccia says Youngstown State University holds a very special place in his heart, and he'll do all he can to support it.
On Wednesday, the 1966 YSU graduate and vice president of Merrill Lynch in Canfield, showed just how special the university really is to him.
He and his wife, Mary, donated 4 million to YSU's Centennial Capital Campaign. The announcement came during the university's kick off for the public portion of the 43 million fund drive set to end with the 2008 centennial celebration.
Lariccia, flanked by his wife and two daughters, Natalie and Dana, said he and his family believe the university will continue to play a vital role in the resurgence of Youngstown and the Mahoning Valley. That's something the Lariccia family wants to support, he said.
In addition to the gift, Lariccia has agreed to serve as chairman of the Centennial Capital Campaign.
With his donation, the drive has already reached the 23.6 million mark.
It isn't the Lariccias first gift to YSU. They've given more than 1 million more to various campus campaigns over the past four years.
Dr. David C. Sweet, YSU president, said their generosity is a signal that people believe in YSU, Youngstown, its people and its future.
"YSU and the Mahoning Valley are fortunate to have the Lariccias as friends," he said.
Their gift will establish the Lariccia School of Accounting and Finance in the university's Williamson College of Business Administration.
Lariccia said he is confident the campaign will meet its 43 million goal.
"But we need the support of everyone in the community, everyone on campus and from our more than 70,000 alums across the world," he said.
Struthers native
Lariccia, 61, of Boardman, calls himself "just a kid from Struthers." He's the son of an Italian immigrant and got interested in the stock market while just a 10th-grader at Struthers High School.
He graduated from YSU with a degree in finance and said he bugged Merrill Lynch for four years before the company finally agreed to give him a chance to prove what he could do.
Lariccia said he decided to carve out a niche for himself in the business by specializing in large block transactions, often buying blocks of stock as large as 100,000 shares on borrowed money.
It was a plan he calls "The Flying Wallendas," named after the famed circus aerial troupe.
It was very high risk with the possibility of large returns, he explained.
It hasn't always been good.
"I must have died a thousand deaths," he said of the ups and downs he's experienced during his 36 years in the business.
It was in 1987 that the stock market crashed on his birthday, Oct. 19, a blow from which it took him three years to recover, Lariccia recalled.
He said he and his wife began concentrating on philanthropic endeavors, especially after the death of an infant son in 1984. To date, the couple has donated nearly 10 million to various causes in the Mahoning Valley.
"God gave us all this goodness, and if we don't pass it on, something's wrong," he said, adding that he intends to continue giving back until the day he dies.
Sweet said the capital campaign is vital to YSU's future, especially in light of declining state support for higher education. State funds for YSU have declined from 46 million to 38 million a year during his six years here, he said.
A breakdown of where the campaign money will go shows:
15 million to help build the new Williamson College of Business Administration building to be built off the south edge of campus.
12 million to establish endowments at the YSU Foundation for programs, faculty chairs, professorships, research and more at YSU's six colleges.
7 million to create endowments for need-based and academic-excellence scholarships.
3 million for new engineering and science labs.
3 million for a new indoor practice facility for men's and women's outdoor sports as well as campus and community events.
3 million for the YSU Annual Fund.