The administrative turnover at Penn State continues, this time with the resignation of the university’s chief fundraiser.
Vice President for Development and Alumni Relations O. Richard Bundy III has resigned effective March 20 after a six-year tenure that included leading the largest fundraising campaign in Penn State history, according to a university news release. Bundy is the fifth vice president to step down since President Neeli Bendapudi took office last spring.
David Lieb, senior associate vice president for development, will serve as interim vice president until a permanent replacement is named.
Bundy, a State College native who earned his bachelor’s a master’s degrees from Penn State in 1993 and 1996, held top development roles at Iowa State and the University of Vermont before returning to his hometown and alma mater in January 2017, six months into the “A Greater Penn State for 21st Century Excellence” campaign. Under his leadership, the campaign raised more than $2.2 billion by the time it concluded in June 2022.
The release did not disclose the reason for his departure and included no comments from Bendpudi or Bundy. It did, however, include praise from university philanthropist and volunteer leader Peter Tombros.
“As a nationally recognized leader in higher education fundraising, Rich Bundy’s legacy of success and innovative leadership is well-documented, and his love of Penn State is inspirational,” Tombros. “Thanks to Rich’s steadfast commitment and guidance, the university has been able to achieve through the most recent record-setting campaign not only a culture of philanthropy, but a sincere dedication to student success. His impact on Penn State — its students, faculty, staff, alumni and donors — has been outstanding. Penn State is a stronger institution thanks to the work of Rich Bundy.”
Bundy, the son of former Blue Band director Richard Bundy, led a staff of nearly 600 employees in the Penn State Alumni Association and the Office of University Development. He led seven of the top nine fundraising years in school history, including the top four and 2022’s all-time high of $437 million.
His time at the helm also saw some of the largest individual gifts in Penn State history, including $30 million from alum and television producer Donald Bellisario to the College of Communications, $27 million from Ross and Carol Nese to the College of Nursing, $26 million from Peter and Ann Tombros to support a variety of initiatives and and an eight-figure commitment from Gene and Roz Chaiken to the College of the Liberal Arts.
Bundy also has been an avid supporter of THON and this year was the oldest of the 700 official dancers at the 46-hour event to benefit the Four Diamonds at Penn State Health Children’s Hospital. He received the Kevin A. Steinberg Award in 2022 for his service to THON.
Vice President and Provost Nick Jones, Vice President and General Counsel Stephen Dunham, Vice President for Strategic Communications Lawrence Lokman and Vice President for Student Affairs Damon Sims, have all stepped down from their positions and transitioned to other roles or left the university since Bendapudi began as president in May 2022. Vice President for Intercollegiate Athletics Sandy Barbour and Vice President for Outreach Tracey Huston both retired shortly after the start of Bendapudi’s tenure, but announced their intentions to do so before her arrival.
Jones said he would transition to a faculty role in the College of Engineering in August 2022, but in October was named executive vice president and vice president for academic affairs of the University of Illinois System.
The university announced Sims’ departure from his 15-year student affairs leadership post after it already occurred and with a press release that, similar to Bundy, included no comments from Sims or Bendapudi. He is serving as special assistant to the president through June 30, then will move to a non-tenure faculty role, according to the university.
