Colby Receives $1.5 Million Gift for Financial Aid
The Lachman Family Financial Aid Fund will support deserving students
To support the academic success of students who might not consider applying to Colby without financial assistance, Todd R. ’85 and Christine Lachman have generously made a $1.5 million gift for financial aid, an investment for which the College is deeply grateful.
A business entrepreneur who founded and built a successful consumer products company, Todd Lachman majored in economics and art history at Colby and credits his expansive liberal arts education as one of the foundations for his success.
“My four years at Colby had a major influence on my life, personally, professionally, and academically. I learned so much, had meaningful experiences, and made lasting friendships,” he said. “This gift is certainly one way we can give something back to the school from which I received so much.”
The Lachman Family Financial Aid Fund will support deserving students from all backgrounds, with a focus on first-generation students.
“We are profoundly thankful to Todd and Christine. I know this gift is deeply personal for them,” said Senior Vice President Matt Proto. “Their generosity allows others to benefit from the same education that was so meaningful to Todd. It ensures that Colby will continue to attract deserving, talented students from all backgrounds, giving them the opportunity to experience a Colby education.”
Todd Lachman grew up in New Jersey as an only child in a single-parent household with his mom. He became interested in the outdoors at a young age through his involvement in Boy Scouts and was attracted to Colby, in part, by the opportunity to experience outdoor adventure in central Maine.
“When I saw Colby and learned about the COOT program, that made an impression,” Lachman said, recalling the Colby Outdoor Orientation Trip that has been a rite of passage for first-year students for more than 50 years. “I thought, ‘I can challenge myself academically, make great friends, and experience the outdoors.’ That was the big grab for me.”
He became a COOT leader, which was an important component of his Colby experience. Today, outdoor adventures with friends and family remain a vital part of his life. The Lachmans spend half the year at their home in Lake Tahoe, Calif., experiencing the outdoors daily.
‘Being able to give back to a community that had such a profound impact on my life and to be able to create a financial aid fund for students at a school that they might not have looked at, is very meaningful.’
Todd Lachman ’85
After graduating from Colby, Lachman worked for National Westminster Bank in its mergers and acquisitions group, after which he enrolled in the Kellogg School of Management at Northwestern University, where he earned his M.B.A. In his career, Lachman served in a variety of executive positions at leading consumer food companies, including global president of Mars Petcare, president of Mars Chocolate North America, and executive vice president of Del Monte Foods. He also held senior roles at H.J. Heinz Co. and Procter & Gamble.
In 2017, he founded Sovos Brands, Inc., becoming president and CEO, taking the company public, and later orchestrating its sale to The Campbell’s Co. He currently serves as executive chairman of Sauer Brands.
The Lachmans, who live in the San Francisco Bay Area, have supported many philanthropic causes over the years, focusing on creating opportunities for people living in under-resourced communities in New Jersey, California, and elsewhere. They made a major gift for a new clubhouse at the Boys and Girls Club of Newark. Both have served on its board, and Christine Lachman recently returned to board service. Todd Lachman has also served as board chair of the Bay Area Chapter of Big Brothers Big Sisters.
“The type of gifts my wife and I have always given are about helping youth achieve their full potential. People need a shot at a better chance,” he said. “Helping others is always part and parcel of our moral compass. Being able to give back to a community that had such a profound impact on my life and to be able to create a financial aid fund for students at a school that they might not have looked at is very meaningful.”
Said Christine Lachman, “Todd and I believe that talent is everywhere, but opportunity isn’t. Every dollar given is a bet on someone’s future, and on the ripple effect that a college education has on a family and a community for generations to come.”
Colby has become a national leader in access and affordability among colleges and universities. Through a leading admissions and outreach effort, along with new partnerships forged with community-based organizations and innovative financial aid programs, Colby is one of the most accessible colleges for the most talented students from all socioeconomic backgrounds.
Colby has become a national leader in access and affordability among colleges and universities. Through a leading admissions and outreach effort that has enrolled the most academically prepared and diverse students, along with new partnerships forged with community-based organizations and innovative financial aid programs, Colby is one of the most accessible colleges for the most talented students from all socioeconomic backgrounds.
The College has an ongoing initiative to recruit exceptional students regardless of family income or circumstance and to meet each admitted student’s demonstrated financial need. Colby is one of only a handful of highly selective schools to meet 100 percent of demonstrated need without loans, providing students the opportunity to graduate without student loan debt.
