Apr 09, 2015 01:13 PM EDT By Staff Reporter, UniversityHerald Reporter

The University of California at San Diego received a multi-million dollar pledge from the Rady Family Foundation to help recruit and retain faculty members at their business school.

Evelyn and Ernest Rady and the Rady Family Foundation helped establish UC San Diego's Rady School of Management with a $30 million lead gift in 2004.  Now the foundation is making a $100 million commitment to help recruit and retain faculty and fund strategic priorities at the business school.

"The Rady School is an integral part of UC San Diego and a vital, entrepreneurial component to San Diego's science and technology communities," Chancellor Pradeep K. Khosla said in a statement. "The generous commitment from Evelyn and Ernest Rady and the Rady Family Foundation allows the school to continue its tradition of success and impact."

For Ernest Rady, one of San Diego's most prominent philanthropists and business leaders, this recent commitment to the Rady School is driven by his "Return on Life (ROL)" philosophy.

"We want the resources that we've been fortunate enough to accumulate to go to help other people," he explained.

That help could be for a student who receives a fellowship to attend the region's top business school. Or success for a startup whose founders learned how to turn ideas into opportunities. Or saving a child through technology and science developed by a Rady graduate.

The past decade has held many accomplishments for the Rady School of Management, including the prestigious accreditation from the Association to Advance Collegiate Schools of Business (AACSB International), the launch of over 80 sustaining companies and 100 "intrepreneurial" products and services by students and alumni, the construction of the Rady School campus, and the recognition of outstanding faculty research through national and international publications. RecentlyBloomberg Businessweek ranked the school as the number one MBA program in the U.S. for Intellectual Capital. 

See Now: Covert Team Inside Newsweek Revealed as Key Players in False Human Trafficking Lawsuit