The late Jay I. Kislak stands aboard the Intrepid in New York in 2017 at his 95th birthday celebration. — Courtesy: The Kislak Co. Inc.
By Joshua Burd
The family of the late Jay I. Kislak has extended its support for Monmouth University, pledging $2 million to establish a permanent endowed directorship for the school’s real estate program.
The Kislak Family Foundation announced the gift Thursday as part of the annual Leadership Excellence Award Dinner hosted by the university’s Kislak Real Estate Institute, which was established in 2006 with an another donation by the iconic broker, entrepreneur and Kislak Organization patriarch. The family’s continued support will now create The Jay I. Kislak Endowed Director, helping fill a key position within Monmouth’s Leon Hess Business School.
“Jay Kislak was a patron of education and ideas,” said Jason Pucci, chief operating officer of The Kislak Co. Inc., who made the announcement Thursday. “His ongoing commitment to Monmouth University allowed him to forge a living legacy by helping to develop students who will become the next generation of real estate professionals. The Kislak Family Foundation is proud to support the strategic vision of the Institute, and to facilitate regional growth, development, sustainability and socially responsive impact.”
Kislak served as chairman of the Kislak Organization, which is closely tied to many of the state’s influential real estate brokers or executives, until his death in 2018 at age 96. His family’s gift in 2006 would fund the launch of what would become New Jersey’s first credit-bearing academic program, one of about 65 in the country at the time.
Today, the Kislak Real Estate Institute is among 100 such programs in the nation, enrolling nearly 170 students, according to a news release. Its academic offerings have helped shape the careers of investors, asset managers, consultants, developers and officers of financial institutions, among others.
The Kislak foundation’s support for the institute has also included a $1 million pledge made in 2020 to provide need-based scholarships for undergraduates pursuing a business degree with a real estate concentration. At that time, the organization also gifted $100,000 to sponsor Monmouth’s annual intercollegiate real estate competition, which challenges students to present their version of a property’s highest and best use based on a provided case study on the development potential of a property.
“This significant endowment builds on the firm foundation the Kislak family established in 2006,” Monmouth University President Patrick Leahy said. “This gift will support the teaching, scholarship, and service that will be vital to the future of the Kislak Real Estate Institute and will meet the needs of aspiring real estate professionals. The continued generosity of the Kislak Family Foundation also ensures that the Institute will be well positioned to facilitate and address opportunities for economic and societal impact of real estate in our region and beyond.”
