Ted Kruttschnitt ’64 believes in paying it forward. As a loyal Cal alum, Ted is grateful to be able to share his good luck. And that is exactly what he did when he agreed to underwrite a new CAA Alumni Scholarships program upon the occasion of his 50th reunion at Cal.
Ted’s generosity significantly expanded the reach of The Equity Scholarship, which CAA has renamed the Kruttschnitt Aspire Scholarship Program (KASP). KASP provides substantial economic assistance to California’s high-achieving, underrepresented minority students* to attend Cal. KASP awards $6,000 per academic year to incoming freshmen and junior transfer students. In addition to financial aid, KASP Scholars receive guidance and other significant resources to optimize their Berkeley experience. By the fourth year of the program, there will be an estimated 86 KASP Scholars at Berkeley.
Ted’s early experiences at Cal coupled with his philanthropic passions inspired him to make his gift to CAA. “Berkeley is a large and multifaceted experience; diversity is a key ingredient to students enjoying that experience. This gift targets underrepresented minority students and helps ensure equal opportunity for all students.” In addition to valuing diversity, Ted believes today’s students should not graduate with much student debt. “When students graduate, I believe their first priority should be becoming contributing members of society, as opposed to focusing on how to get out of debt.”
Ted graduated in 1964 with his Bachelor of Science from the Haas School of Business. He then earned his M.B.A. from Harvard University in 1966 before returning to the San Francisco Peninsula. A lifelong entrepreneur, Ted founded and operated a real estate brokerage firm, a regional hotel chain, an international equipment-leasing company, and a regional office-building investment company. In his spare time, Ted was very active in local civic groups and served for 13 years as Board Chairman of his community bank. Ted still works full time with a current focus on private equity investments. In his free time, you’ll find Ted and his wife, Alexia, traveling extensively or on the golf course or tennis court.
As a longtime donor to UC Berkeley, Ted is recognized across campus for his generosity. He adds, “At Cal there are many great programs to which one might give; this program was of particular interest to me. Underrepresented minority students must be supported both when they arrive on campus and throughout their years at Berkeley. This CAA program is a great vehicle to accomplish the goal.”
*UC Berkeley has identified African-American/Black, Chicano/Latino, and Native Indian/Alaskan Native as underrepresented minorities on campus.