UNIVERSITY PARK, Pa. — After leading Penn State through its $2.2 billion fundraising campaign — “A Greater Penn State for 21st Century Excellence,” the most successful and comprehensive fundraising effort in University history — Vice President for Development and Alumni Relations O. Richard Bundy III has resigned, effective March 20.

David Lieb, currently senior associate vice president for development, will serve as interim vice president for Development and Alumni Relations until Bundy’s permanent replacement is named.

Bundy joined Penn State in January 2017, six months into the University’s years-long capital campaign, “A Greater Penn State for 21st Century Excellence.” Originally set to end in summer 2021 with a goal of $1.6 billion, in 2019 “A Greater Penn State for 21st Century Excellence” was extended for a year in recognition of its success and the campaign’s goal was raised by nearly one-third of its total to $2.1 billion. Under Bundy’s leadership, the campaign surpassed its new goal by raising a total of more than $2.2 billion by its conclusion in July 2022.

For the past six years, Bundy has led a team of nearly 600 full-time professional staff members in the Penn State Alumni Association and the Office of University Development in advancing Penn State’s land-grant mission by engaging the University’s alumni and friends. With Bundy at the helm of the University’s development efforts, Penn State achieved seven of the nine best fundraising results in University history, including the top four years ever and last year’s all-time high of $437 million in new gift commitments. Penn State is one of only 11 institutions globally to have raised more than $1 billion in three or more successive campaigns.

“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,” said Peter Tombros, longtime philanthropic and volunteer leader. “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.”

Also during Bundy’s tenure leading the University’s development efforts, Penn State received some of the largest private gifts in its history, including:

• $30 million from television writer, producer and director Donald P. Bellisario, a 1961 Penn State graduate, which resulted in the naming of the Donald P. Bellisario College of Communications;
• $27.125 million from Ross and Carol Nese to enhance nursing education at the University and name the Ross and Carol Nese College of Nursing;
• A $26 million commitment from Peter and Ann Tombros to benefit programs across Penn State and create a University-wide endowment to fuel innovation and encourage other alumni and friends to support the institution;
• An eight-figure commitment from Gene and Roz Chaiken to grow their scholarship support in the College of the Liberal Arts and name the college’s new building the Susan Welch Liberal Arts Building to honor the late dean who led the college as dean for 28 years; and
• A $25 million gift from Highmark Inc. in 2018 to support the Cancer Institute at the College of Medicine.

Bundy also was responsible for securing more than $21 million to support construction of the new Palmer Museum of Art and more than $11 million to endow Educational Equity Scholarships that enhance the diversity of the student population at Penn State, with a corresponding University match of $13.5 million. In addition, under Bundy’s leadership, Penn State became one of the first institutions in the nation to hire a director of diversity, equity and inclusion specifically focused on the advancement operation, and the Penn State Alumni Association aligned its 2018 City Lights program to feature historically underrepresented communities of Penn Staters. Bundy also was a champion for new professionals in the advancement field. More than 100 recent graduates of the University have participated in the DDAR Summer Internship Program, which was significantly expanded during Bundy’s tenure, with more than 15 former interns continuing to work full time for Penn State.

Bundy’s tenure is marked by the continued dominance of the Penn State Alumni Association’s status as the largest dues-paying membership organization of its kind in the world, with more than 173,600 members worldwide. Penn State’s advancement program generally engages more than 700 fundraising volunteers annually, and in the volunteer space Bundy also oversaw the creation of the Women’s Philanthropic Initiative that focuses on the critical role women philanthropic leaders play in the life of the institution.

Before returning to Penn State, his alma mater and where he began his career in higher education development, Bundy served as the inaugural president and CEO of the University of Vermont Foundation since 2010. The foundation experienced six consecutive years of record-setting fundraising for the University of Vermont under Bundy’s leadership, including the three largest gift commitments in the history of the University of Vermont.

Prior to his position at the University of Vermont, Bundy spent more than 10 years in development at Iowa State University, ultimately serving as vice president of the Iowa State University Foundation. He also served as associate director of development for the Eli Broad College of Business at Michigan State University from 1997 to 2000 and assistant director of annual giving at Penn State from 1995 to 1997.

Bundy is a State College native and son of former Blue Band Director Dick Bundy and his wife, Chris, and brought a deeply personal commitment to his Penn State role, effectively engaging with thousands of Penn State volunteers and donors to support the university’s strategic plan. His boundless energy for Penn State was perhaps best exemplified by his participation as the oldest dancer at THON 2023, completing the 46-hour record-setting effort alongside 700+ dancers, most of whom were more than half his age. Bundy was the 2022 co-recipient of the Kevin A. Steinberg Award, granted each year to one THON supporter as a recognition of their service to THON and the Four Diamonds Fund.

A life member of the Penn State Alumni Association, as well as a member of the Golden Lion Society and the Mount Nittany Society, Bundy holds master of arts and bachelor of arts degrees in history from Penn State. He earned an MBA from Michigan State University and completed the Harvard Graduate School of Education’s Management Development Program.