The University of Virginia Darden School of Business has announced a $68 million commitment from alumnus Frank M. Sands, Sr. (MBA '63) in support of a new institute, faculty initiatives, and facility upgrades. 

The largest gift in the school's sixty-four-year history includes a $20 million endowment to establish the Sands Institute for Lifelong Learning, which will develop best practices — in the classroom, online, and through novel delivery methods —  for teaching lifelong learners and working executives. Another $21 million will be combined with $14 million in matching funds from UVA's Bicentennial Professors Fund to provide support for twelve new faculty chairs and bolster the school's innovation in pedagogy, including case writing and course and program development. Four of the chairs will be created in honor of Darden professors with a legacy of exceptional teaching and commitment to the school.

The commitment from the founder of Sands Capital Management also includes $20 million to help fund construction of the UVA Inn at Darden and Conference Center for Lifelong Learning. The $90 million project will feature a five-acre arboretum and will connect Darden and UVA's School of Law; upon completion of the inn and pending approval by the board of visitors, the inn will be named after Sands. The remaining $7 million will be used to create a fund in support of renovations to C. Ray Smith Alumni Hall, which is named in honor of dean emeritus C. Ray Smith (MBA '58).  

Sands and his son, Frank Sands (MBA '94), previously contributed $5 million toward construction of the UVA Darden Sands Family Grounds in the Rosslyn district of Arlington, Virginia.

"The Darden School was a transformational experience for me, and I am an ardent supporter of its mission and values," said Sands. "I am a big believer in lifelong learning and that learning is enabled by great faculty. I hope this gift will inspire others to give and hope that the school will continue to be a true force for good in the free markets and broader world."