By David Madden

GLASSBORO, N.J. (CBS) – Twenty years ago, philanthropist Henry Rowan and his late wife donated $100-million to what was then Glassboro State College. It was, at the time, the second largest gift ever given to an American educational institution.

The school now bears his name and has risen to become a major research university in the region. It boasts major business and engineering schools, and soon they will have a new medical school in Camden, New Jersey.

The university said thanks on Thursday by unveiling a bronze statue in Rowan’s honor.

Henry Rowan’s daughter, Virginia Rowan Smith, talked of the legacy of the $100-million gift.

“It’s not just a fundraising figure,” she said. “It’s not just a historic moment in philanthropy or an education, but it’s an encouragement that every day, every one of us, by setting the highest of standards, can achieve great things.”

The 89-year-old Rowan, who made his fortune creating induction furnaces, did not speak at the event.

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