Finn Michael Westby Caspersen Sr. (October 27, 1941 – September 7, 2009) was an American financier and philanthropist. A graduate of the Peddie School,

Brown University Brown University is a Private university, private Ivy League research university in Providence, Rhode Island, United States. It is the List of colonial colleges, seventh-oldest institution of higher education in the US, founded in 1764 as the ' ...

and

Harvard Law School Harvard Law School (HLS) is the law school of Harvard University, a Private university, private research university in Cambridge, Massachusetts. Founded in 1817, Harvard Law School is the oldest law school in continuous operation in the United ...

, he was chairman and chief executive of

Beneficial Corporation Beneficial Corporation was one of the largest consumer finance companies in the United States, prior to its acquisition by Household International, Inc. in 1998. Beneficial began as the Beneficial Loan Society in 1914 in Elizabeth, New Jersey, ...

, one of the largest

consumer finance Personal finance is the financial management that an individual or a family unit performs to budget, save, and spend monetary resources in a controlled manner, taking into account various financial risks and future life events. When planning ...

companies in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

. After an $8.6 billion acquisition of Beneficial by Household International in 1998, Caspersen ran Knickerbocker Management, a private financial firm overseeing the assets of trusts and foundations. As a philanthropist, Caspersen donated tens of millions of dollars to the Peddie School, Brown, Harvard, and

Drew University Drew University is a private university in Madison, New Jersey, United States. It has a wooded campus. As of fall 2020, more than 2,200 students were pursuing degrees at the university's three schools. While affiliated with the Methodism, Me ...

, while overseeing the Hodson Trust, which benefitted four institutions in Maryland. He described education as his "particular love" and regarded it as "an investment in the future—an investment in human capital."Harvard Law School
"Recent News and Spotlights: Finn M.W. Caspersen '66 (1941–2009)"
(September 9, 2009). Retrieved October 28, 2013. Buildings and endowed professorships have been named in his honor. Caspersen's philanthropy extended to rowing and equestrian sports, and service to the United States Equestrian Team Foundation, Princeton National Rowing Association, and the National Rowing Foundation. Caspersen was an influential donor to Republican candidates at the state and national level. In the 1980s, he was a major supporter of former New Jersey governor Thomas Kean. He served as a town commissioner in Jupiter Island, Florida, an exclusive upper-class enclave, for four years, resigning a few weeks before his suicide in September 2009. News reports linked Caspersen with financial problems and accusations of alleged large-scale tax evasion that were discovered in the course of federal investigations into offshore tax shelters managed by financial firms UBS and LGT Bank, and used by wealthy American clients. Near the end of his life, Caspersen was subjected to an IRS audit with a possible focus on alleged offshore accounts.Cohan, William D.
"The Shot Heard 'Round the Clubs"
''Vanity Fair'', February 2010. Retrieved October 28, 2013.Victoria E
"Uncorroborated: The Dangers of Anonymous Sources in Journalism"
(blog post), ''Newsvine'', August 20, 2015. Retrieved October 1, 2015. An attorney for Caspersen's estate claimed that in 2013 the IRS effectively exonerated Caspersen posthumously—with no penalties or fines for offshore accounts or anything else.

Biography

Early life and education

Caspersen was born on October 27, 1941, in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

. He was one of two sons of Olaus Westby Caspersen (1896–1971), and Freda Resika (1909–1991) thought to be of Russian or Polish descent.Lovoll, Odd Sverre, ''The Promise Fulfilled: A Portrait of Norwegian Americans Today'' (Minneapolis: University of Minnesota Press, 1998), 162–164. Olaus's widowed mother and siblings had emigrated to the United States earlier, leaving Olaus in Norway to complete his education. Olaus came to the United States in 1912 at age 16, settling in

Weehawken, New Jersey Weehawken is a township in the northern part of Hudson County, in the U.S. state of New Jersey. It is located on the Hudson Waterfront and Hudson Palisades overlooking the Hudson River. As of the 2020 United States census, the township's po ...

. Caspersen's mother, Freda, was a non-practicing Jew, and his father thought that his sons needed a religious upbringing. Finn attended a

congregational church Congregationalism (also Congregational Churches or Congregationalist Churches) is a Reformed Christian (Calvinist) tradition of Protestant Christianity in which churches practice congregational government. Each congregation independently a ...

near the family home in his youth. He later reflected that "being Protestant was important. There was a kind of anti-Catholicism in the family." The family moved to homes in Andover, New Jersey, and Venice, Florida. Caspersen frequently visited Norway as a child, vacationing there during summers after 1947. Caspersen attended private schools until the ninth grade. He attended the Peddie School, a private preparatory school in

Hightstown, New Jersey Hightstown is a Borough (New Jersey), borough in Mercer County, New Jersey, Mercer County, in the U.S. state of New Jersey. Nestled within the Raritan River, Raritan Valley region, Hightstown is an historic, commercial, and cultural hub of Cent ...

, and was graduated in 1959. Peddie School
"Finn M. W. Caspersen, Peddie board chair, dies at 67"
, September 11, 2009. Retrieved December 22, 2013. Caspersen received a

Bachelor of Arts A Bachelor of Arts (abbreviated B.A., BA, A.B. or AB; from the Latin ', ', or ') is the holder of a bachelor's degree awarded for an undergraduate program in the liberal arts, or, in some cases, other disciplines. A Bachelor of Arts deg ...

(B.A.) degree from

in 1963 and a

law degree A law degree is an academic degree conferred for studies in law. Some law degrees are professional degrees that are prerequisites or serve as preparation for legal careers. These generally include the Bachelor of Civil Law, Bachelor of Laws, an ...

(LL.B.) from

in 1966.

Business career

In 1972, Caspersen joined the legal department at Beneficial Corporation, a large American consumer finance firm. Four years later, he was named the firm's chief executive officer. Beneficial had been established in 1914 in

Elizabeth, New Jersey Elizabeth is a City (New Jersey), city in and the county seat of Union County, New Jersey, Union County, in the U.S. state of New Jersey.Browning, Lynnley

''The New York Times'', September 15, 2009. Retrieved October 28, 2013. In 1929, Hodson and Caspersen reorganized the firm as Beneficial Finance Corporation and transformed it into one of the largest consumer loan providers in the United States.Kepos, Paula, and Derdak, Thomas, ''International Directory of Company Histories'' (Chicago/Detroit: St. James Press, 1994) 8:56–58.Staff

(obituary), ''New York Times'', May 1, 1991. Retrieved October 28, 2013. Freda Caspersen was one of the company's directors. Under the younger Caspersen's leadership, Beneficial expanded into credit finance and offered credit cards through its People's Bank and Trust subsidiary. It purchased Parliament Leasing in 1977, and First Texas Financial Corp., a savings and loan firm, in 1978. In 1977, Beneficial entered the reinsurance business through subsidiaries, but these endeavors led to significant financial losses in the 1980s. Beneficial later downsized its reinsurance holdings and restructured to emphasize its

second mortgage Second mortgages, commonly referred to as junior liens, are loans secured by a property in addition to the primary Mortgage loan, mortgage. Depending on the time at which the second mortgage is originated, the loan can be structured as either a ...

business. According to Charles "Sandy" Hance, former senior vice president and general counsel of Beneficial, Caspersen was a "pioneer in second mortgages, which later evolved into

home equity loan A home equity loan is a type of loan in which the borrowers use the equity of their home as collateral. The loan amount is determined by the value of the property, and the value of the property is determined by an appraiser from the lending in ...

s", and that he "saw this trend developing at a very early stage".Rispoli, Michael
"Finn Caspersen, former head of Beneficial Corp., is found dead in Rhode Island"
''The Star-Ledger'', September 8, 2009. Retrieved December 24, 2013. Caspersen purchased Harbour Island in

Tampa, Florida Tampa ( ) is a city on the Gulf Coast of the United States, Gulf Coast of the U.S. state of Florida. Tampa's borders include the north shore of Tampa Bay and the east shore of Old Tampa Bay. Tampa is the largest city in the Tampa Bay area and t ...

, from a Beneficial subsidiary in 1979, and in 1983 began to re-develop the island into an upscale residential and commercial development similar to the

Inner Harbor The Inner Harbor is a historic seaport, tourist attraction, and landmark in Baltimore, Maryland. It was described by the Urban Land Institute in 2009 as "the model for post-industrial waterfront redevelopment around the world". The Inner Harbo ...

Baltimore, Maryland Baltimore is the List of municipalities in Maryland, most populous city in the U.S. state of Maryland. With a population of 585,708 at the 2020 United States census, 2020 census and estimated at 568,271 in 2024, it is the List of United States ...

.Staff
"Harbour Island developer dies in apparent suicide"
, ''The Tampa Tribune'', September 10, 2009. Retrieved December 22, 2013. Beneficial purchased the 177-acre man-made island, formerly known as Seddon Island.Staff

''Tampa Bay Business Journal'', September 10, 2009. Retrieved December 22, 2013. Before it was developed, local newspapers described the Harbour Island as "an industrial wasteland inhabited by wild pigs" and the only structures as rusted railroad tracks and an unused phosphate facility. When the first phases were complete, the island opened with events hosted by former

U.S. president The president of the United States (POTUS) is the head of state and head of government of the United States. The president directs the Federal government of the United States#Executive branch, executive branch of the Federal government of t ...

Gerald Ford Gerald Rudolph Ford Jr. (born Leslie Lynch King Jr.; July 14, 1913December 26, 2006) was the 38th president of the United States, serving from 1974 to 1977. A member of the Republican Party (United States), Republican Party, Ford assumed the p ...

.Associated Press Staff, "Former president opens ritzy Tampa Development", ''Gainesville Sun'', June 28, 1985, with picture of Ford and Caspersen. After seven years of dwindling business, Beneficial converted the development into office space, and renamed it Knights Point in 1995. Caspersen ran Beneficial for 22 years before its 1998 acquisition by Household International for $8.6 billion.Bowley, Graham
"Finn Caspersen, Supporter of Many Causes, Dies at 67"
''The New York Times'', September 9, 2009. Retrieved October 28, 2013. At the time of the acquisition, Beneficial had 25,000 employees and operated 1,650 branch offices throughout the United States. Caspersen was paid $24 million in severance and other payments. His next business endeavor was Knickerbocker Management, which he founded in 1998 with a few partners. Knickerbocker, a private investment firm that oversaw approximately $1 billion in assets of trusts and foundations, had offices in Gladstone, New Jersey and Hobe Sound, Florida.

Political activities

Caspersen became an influential donor to state and federal Republican party candidates, including former New Jersey governors Thomas Kean and

Christine Todd Whitman Christine Temple Whitman (; born September 26, 1946) is an American politician and author who served as the 50th governor of New Jersey from 1994 to 2001 and as Administrator of the Environmental Protection Agency under President George W. Bush ...

, and Kean's son Thomas Kean Jr., a

state senator A state senator is a member of a State legislature (United States), state's senate in the bicameral legislature of 49 U.S. states, or a member of the unicameral Nebraska Legislature. History There are typically fewer state senators than there ...

and candidate for United States Senator. Caspersen was a major supporter of Kean's two campaigns for governor in 1981 and 1985. When Kean was inaugurated in 1982, Caspersen, an avid equestrian, dressed in period costume and drove the incoming governor and his wife, as well as outgoing governor Brendan Byrne, to an inauguration party in a four-horse carriage. One writer described the scene as "something out of ' a Currier & Ives print. In 1998, Whitman appointed Caspersen to chair a 15-member advisory panel to recommend future development for

Ellis Island Ellis Island is an island in New York Harbor, within the U.S. states of New Jersey and New York (state), New York. Owned by the U.S. government, Ellis Island was once the busiest immigrant inspection and processing station in the United State ...

, and to a public-private partnership to foster business in the state. According to ''Vanity Fair'' contributor William D. Cohan, left-wing magazine '' Mother Jones'' found that "Caspersen and his wife donated $602,250 to political campaigns, making them the eighth-largest political donors in the U.S." during the 2000 election cycle. In 2005, Caspersen sought a seat on the town commission in Jupiter Island, Florida; his platform focused on conservation, limiting development, and burying utility cables. He served a four-year term and ran unopposed for re-election in 2009. He surprised his fellow commission members and neighbors by suddenly resigning on August 4, 2009, claiming that he anticipated moving from the community.

Personal life

In 1967, Caspersen married Barbara Warden Morris, the daughter of Samuel Wheeler Morris Jr. (1918–1995) and Eleanor May Jones (1919–2011), one of Philadelphia's socially prominent Main Line families. They were married for 42 years. Caspersen met his wife when she was an undergraduate student at

Wellesley College Wellesley College is a Private university, private Women's colleges in the United States, historically women's Liberal arts colleges in the United States, liberal arts college in Wellesley, Massachusetts, United States. Founded in 1870 by Henr ...

. She later obtained a masters and doctoral degree from

, submitting a masters thesis on

Henry David Thoreau Henry David Thoreau (born David Henry Thoreau; July 12, 1817May 6, 1862) was an American naturalist, essayist, poet, and philosopher. A leading Transcendentalism, transcendentalist, he is best known for his book ''Walden'', a reflection upon sim ...

's ''

Walden ''Walden'' (; first published as ''Walden; or, Life in the Woods'') is an 1854 book by American transcendentalism, transcendentalist writer Henry David Thoreau. The text is a reflection upon the author's simple living in natural surroundings. T ...

'', and a doctoral dissertation on the works of

Willa Cather Willa Sibert Cather (; born Wilella Sibert Cather; December 7, 1873 – April 24, 1947) was an American writer known for her novels of life on the Great Plains, including ''O Pioneers!'', ''The Song of the Lark (novel), The Song of the Lark'', a ...

. For several years, Barbara Caspersen has served on the university's board of trustees and currently serves in an emeritus capacity. The Caspersens had two homes in New Jersey—in Andover and Bernardsville in areas described as "in New Jersey horse country", a 6,500-square-foot waterfront estate Westerly, Rhode Island, and a residence in Jupiter Island, Florida. The couple had four sons, Finn M. W. Caspersen Jr., Erik M. W. Caspersen, Samuel M. W. Caspersen, and Andrew W. W. Caspersen. All four of his sons were graduated from Harvard Law School. Pulitzer Prize-winning journalist and Harvard alumnus Daniel Golden, in a book criticizing the role of privilege and wealth at elite colleges, attributed their admission to the prestigious law school to their father's generosity.Golden, Daniel, ''The Price of Admission: How America's Ruling Class Buys Its Way into Elite Colleges—and Who Gets Left Outside the Gates'' (New York: Three Rivers Press, 2007), 26–27, 157. Caspersen served as an officer in the

United States Coast Guard The United States Coast Guard (USCG) is the maritime security, search and rescue, and Admiralty law, law enforcement military branch, service branch of the armed forces of the United States. It is one of the country's eight Uniformed services ...

. He was a member of the

Knickerbocker Club The Knickerbocker Club (known informally as The Knick) is a gentlemen's club in New York City that was founded in 1871. It is considered to be the most exclusive club in the United States and one of the most Aristocracy (class), aristocratic gent ...

, an exclusive, upper-class, men-only social club on New York City's

Upper East Side The Upper East Side, sometimes abbreviated UES, is a neighborhood in the boroughs of New York City, borough of Manhattan in New York City. It is bounded approximately by 96th Street (Manhattan), 96th Street to the north, the East River to the e ...

. Caspersen was a talented equestrian in

combined driving Combined driving (also known as horse driving trials) is an equestrian sport involving driving (horse), carriage driving. In this discipline, the driver sits on a vehicle drawn by a single horse, a pair or a team of four. The sport has three p ...

, winning three national championships and representing the United States at three

world championships A world championship is generally an international competition open to elite competitors from around the world, representing their nations, and winning such an event will be considered the highest or near highest achievement in the sport, game ...

. In 1985, he won the four-in-hand carriage driving competition at the Royal Windsor Horse Show in the United Kingdom and later was an honorary lifetime officer of the show.Andreassi, George
"Finn Caspersen, financial titan, former Jupiter Island commissioner, dies at Rhode Island home"
''The Treasure Coast Palm'' (TCPalm.com), September 8, 2009. Retrieved December 24, 2013.Lidz, Franz

''Sports Illustrated'', December 5, 1988. Retrieved December 24, 2013. Phelps Media Group and United States Equestrian Team Foundation
"USET Foundation President Emeritus, Finn M.W. Caspersen 1941–2009"
(media release), September 9, 2009. Retrieved November 4, 2013. According to ''Sports Illustrated'', Caspersen, described as "portly and patrician, tall and splendidly erect, with a lot of beef in his jowls" recalled being asked by

Queen Elizabeth II Elizabeth II (Elizabeth Alexandra Mary; 21 April 19268 September 2022) was Queen of the United Kingdom and other Commonwealth realms from 6 February 1952 until Death and state funeral of Elizabeth II, her death in 2022. ...

at the awards ceremony about his role in driving his team of Holsteiners: "I told her it was to lower the carriage's center of gravity, ... She looked at my midriff and said I was well suited for the job." He was the father of Andrew Caspersen and three other sons.

Death and aftermath

Caspersen died on September 7, 2009, in the Shelter Harbor community of Westerly, Rhode Island, from an apparent

gunshot wound A gunshot wound (GSW) is a penetrating injury caused by a projectile (e.g. a bullet) shot from a gun (typically a firearm). Damage may include bleeding, bone fractures, organ damage, wound infection, and loss of the ability to move part of ...

to the head.Moore, Michael, and Milford, Phil
"Former Beneficial CEO Finn Caspersen Dies in Apparent Suicide"
, ''Bloomberg'', September 9, 2009. Retrieved October 28, 2013. The

cause of death In law, medicine, and statistics, cause of death is an official determination of the conditions resulting in a human's death, which may be recorded on a death certificate. A cause of death is determined by a medical examiner. In rare cases, an ...

was ruled a suicide. A blued-steel .38-calibre, five-shot

Smith & Wesson Smith & Wesson Brands, Inc. (S&W) is an American Firearms manufacturer, firearm manufacturer headquartered in Maryville, Tennessee, United States. Smith & Wesson was founded by Horace Smith (inventor), Horace Smith and Daniel B. Wesson as the ...

revolver belonging to Caspersen was found near his body. According to law enforcement sources investigating the suicide, Caspersen left a note stating that he "was tired, diminished and in constant pain, and that he did not want to be a burden to his loving family". Caspersen had been battling

kidney cancer Kidney cancer, also known as renal cancer, is a group of cancers that starts in the kidney. Symptoms may include blood in the urine, a lump in the abdomen, or back pain. Fever, weight loss, and tiredness may also occur. Complications can include ...

before his death, and reportedly pursued regular

chemotherapy Chemotherapy (often abbreviated chemo, sometimes CTX and CTx) is the type of cancer treatment that uses one or more anti-cancer drugs (list of chemotherapeutic agents, chemotherapeutic agents or alkylating agents) in a standard chemotherapy re ...

treatment. Several sources described his health as deteriorating and the cancer severe. Others indicated that his medical condition led to depression, describing an uncertainty that left him "sort of horrified about his medical outcome". Bernard Davidoff, an

internist Internal medicine, also known as general medicine in Commonwealth nations, is a medical specialty for medical doctors focused on the prevention, diagnosis, and treatment of diseases in adults. Its namesake stems from "treatment of diseases of th ...

from New Jersey apparently familiar with Caspersen's medical care, advised police that Caspersen "suffered from severe depression and was taking antidepressant medications, heart, liver, kidney, and diabetes medications". It was also reported that medical problems and chemotherapy treatments "had severely hobbled him in recent years". A memorial service held on September 15, 2009, at St. Peter's Episcopal Church in

Morristown, New Jersey Morristown () is a Town (New Jersey), town in and the county seat of Morris County, New Jersey, Morris County, in the U.S. state of New Jersey.

, was attended by 900 friends and relatives. Caspersen was eulogized by former New Jersey governor and Drew University president Thomas Kean. In the weeks after his death, reports emerged that Caspersen had listed his Westerly, Rhode Island, home for sale for $10.9 million, was facing financial and legal difficulties. Caspersen had begun to step back from various philanthropic efforts and institutional boards at Harvard, Peddie, and the Hodson Trust. Eight days after his death in 2009, a ''New York Times'' article cited an anonymous source, to report that Caspersen was being investigated by the Internal Revenue Service and was suspected of owing as much as $100 million in back taxes and fines, and facing possible imprisonment. ''The New York Times'' article reported that Caspersen was caught up in a broader federal investigation into

tax havens A tax haven is a term, often used pejoratively, to describe a place with very low tax rates for non-domiciled investors, even if the official rates may be higher. In some older definitions, a tax haven also offers financial secrecy. However, ...

and offshore bank accounts used by wealthy Americans to avoid paying taxes in Switzerland and Liechtenstein. It was reported that his name was turned over to federal investigators by Swiss banking giant UBS earlier in the year, and in connection to Liechtenstein Global Trust (LGT), a private bank controlled by Liechtenstein's royal family. In 2015 an attorney for Caspersen's estate stated Caspersen's tax returns for 2005-2008 had been audited, in an investigation that did not conclude until 2013. The attorney, Denis Conlon, said the net result of the four-year audit was a $7,000 refund from the government for overpayment in one year, $14,000 of additional tax due for another year (in which Caspersen had over $2.7 million of income), no refunds or additional taxes dues for the other two years, and no fines or penalties imposed for alleged offshore accounts or other conduct.

Philanthropy

Equestrian and rowing

Caspersen served as a board member, president, and chairman of the United States Equestrian Team from 1982 to 2002. He was considered "the man who put American combined driving on the international map". During his 20-year tenure, American riders and drivers earned 71 medals, including 25 gold, in the

Olympics The modern Olympic Games (Olympics; ) are the world's preeminent international sporting events. They feature summer and winter sports competitions in which thousands of athletes from around the world participate in a variety of competit ...

World Championships A world championship is generally an international competition open to elite competitors from around the world, representing their nations, and winning such an event will be considered the highest or near highest achievement in the sport, game ...

, and

Pan American Games The Pan American Games, known as the Pan Am Games, is a continental multi-sport event in the Americas. It features thousands of athletes participating in competitions to win different summer sports. It is held among athletes from nations of th ...

.Jaffer, Nancy
"Finn Caspersen, American Combined Driving Advocate, Dies"
''Equisearch'', September 8, 2009. Retrieved October 28, 2013. Caspersen helped the U.S. Equestrian Team establish a permanent home at Hamilton Farm, the former estate of U.S. Treasury Secretary Nicholas F. Brady in

Bedminster, New Jersey Bedminster is a Township (New Jersey), township in Somerset County, New Jersey, Somerset County, in the U.S. state of New Jersey. As of the 2020 United States census, the township's population was 8,272, an increase of 107 (+1.3%) from the 201 ...

.Garreau, Joel, ''Edge City: Life on the New Frontier'' (New York: Random House, 2011), 33–34. The Hamilton Farm property was owned by Beneficial and was located next to the corporation's headquarters. Beneficial deeded the property to the team at Caspersen's urging. Caspersen supported rowing, and was involved with the Princeton National Rowing Association (PNRA) and Princeton International Regatta Association (PIRA).Caspersen Center Dedication: Raises Olympic Flag As Officially Designated Olympic Training Site
''row2k'', December 11, 2003. Retrieved October 28, 2013. In 1998, he provided funding to build a boathouse to benefit the rowing programs of Peddie and the nearby

Lawrenceville School The Lawrenceville School is a Private school, private, coeducational College-preparatory school, preparatory school for boarding and day students located in the Local government in New Jersey, unincorporated community of Lawrenceville, New Jers ...

on the north shore of

Mercer Lake Mercer Lake, also known as Lake Mercer, is a man-made lake within Mercer County Park in West Windsor Township, New Jersey, West Windsor, Mercer County, New Jersey, Mercer County, New Jersey, United States. History The lake came into being with ...

in West Windsor, New Jersey. Located at the Mercer Lake Race Course—site of the 1988, 1992, 2004 and 2008 United States Olympic Rowing Team Trials—the facility is used for training, racing, camps, clinics and administration by Peddie, Lawrenceville, the Hun School, high schools in Mercer County, New Jersey, USRowing, the US National Team, and the Mercer Junior Rowing Club, as well as PNRA and PIRA.

Education

Throughout his life, Caspersen was closely involved with the management of several universities and schools, serving on the directing boards of the Peddie School, Brown, and the Dean's Advisory Board at Harvard Law School. In a 2008 interview, he stated that he believed education was "investment in the future—an investment in human capital. I've been active in a range of other things, but education's always been my particular love".Staff
"Closing: A Conversation with Finn Caspersen '66"
''Harvard Law Bulletin'', Fall 2008. Retrieved November 2, 2013. Caspersen endowed two professorships at Harvard Law School—the Beneficial Professorship of Law, and the Finn M.W. Caspersen and Household International Professorship of Law. In 2003, he was chairman of Harvard Law School's

capital campaign Fundraising or fund-raising is the process of seeking and gathering voluntary financial contributions by engaging individuals, businesses, charitable foundations, or governmental agencies. Although fundraising typically refers to efforts to gathe ...

, which he helped jump-start by pledging $30 million—the largest single donation in the school's history. The campaign ultimately raised $476,475,707. The law school honored Caspersen by naming a special collections room in its

Library A library is a collection of Book, books, and possibly other Document, materials and Media (communication), media, that is accessible for use by its members and members of allied institutions. Libraries provide physical (hard copies) or electron ...

after him. In April 2012, Harvard dedicated part of a 250,000-square-foot multipurpose construction project, which housed student organizations, journals, and social activities, to Caspersen, calling it the ''Caspersen Student Center''. Critics attacked Harvard's decision to name the facilities after Caspersen after his alleged tax evasion was made public. Barbara Caspersen has served as trustee (currently as an emeritus trustee) of

and as both chairwoman and vice-chairwoman of the liberal arts college's board. In 1999, the Caspersens provided a $5 million gift for expanding graduate education programs at Drew. In honor of their service to the university, Drew renamed its graduate school as the ''Caspersen School of Graduate Studies''. The university's Rose Memorial Library houses a collection of books, manuscripts, artifacts and papers of Nebraska-born author

(1873–1947) assembled from items given by several donors—including significant contributions by Caspersen and his wife. It is regarded as one of the best collection of Cather's papers assembled in the United States. Caspersen donated funds to build a four-level annex, named in honor of his parents, to Brown University's historic John Carter Brown Library, dedicated in 1991. Caspersen also served as a trustee of the Peddie School starting in 1970, and as the board's chairman starting in 1976. In 1998, he and philanthropist Walter H. Annenberg each donated $10 million to the school. The ''Caspersen Campus Center'', which opened in 1996, and ''Caspersen History House'', dedicated in 2006, were named in his honor. From 1976 until a few weeks before his death, Caspersen ran the Hodson Trust, established by Beneficial founder Clarence Hodson to award grants to four colleges in Maryland:

Hood College Hood College is a private college in Frederick, Maryland. In fall 2018, Hood enrolled 2,052 students (1,092 undergraduate students; 960 graduate students). Thirty-eight percent of students are either members of under-represented racial or ethni ...

Johns Hopkins University The Johns Hopkins University (often abbreviated as Johns Hopkins, Hopkins, or JHU) is a private university, private research university in Baltimore, Maryland, United States. Founded in 1876 based on the European research institution model, J ...

, St. John's College, and Washington College. Under the first 25 years of Caspersen's stewardship, the trust donated over $118 million to the four institutions. Hood College
"The Hodson Trust"
. Retrieved October 28, 2013. Caspersen was awarded

honorary degree An honorary degree is an academic degree for which a university (or other degree-awarding institution) has waived all of the usual requirements. It is also known by the Latin phrases ''honoris causa'' ("for the sake of the honour") or '' ad hon ...

s for his service to education; Washington College conferred an honorary Doctor of Humanities degree in 1981 and Hood College awarded Caspersen with an honorary

Doctor of Laws A Doctor of Laws (LL.D.) is a doctoral degree in legal studies. The abbreviation LL.D. stands for ''Legum Doctor'', with the double “L” in the abbreviation referring to the early practice in the University of Cambridge to teach both canon law ...

degree in 1983.Tipson, Baird
"In Memoriam: Finn Caspersen"
''Washington College News'' (official blog), September 10, 2009. Retrieved March 21, 2014.

References

{{DEFAULTSORT:Caspersen, Finn M. W. 1941 births 2009 deaths American chief executives of financial services companies American people of Norwegian descent Brown University alumni Equestrian sports in the United States Florida local politicians Harvard Law School alumni People from Andover, New Jersey Peddie School alumni Suicides by firearm in Rhode Island 20th-century American politicians 20th-century American philanthropists Drew University people 2009 suicides