Bill Conway initially had no intention of revolutionizing the nursing field. In 2011, as a notable financier, he pledged to donate $1 billion to create job opportunities for the economically disadvantaged. He solicited ideas from the public and received about 2,500 responses. While many suggestions were mundane, a few proposed investing in bachelor’s degree programs in nursing. This resonated with him and his wife, who thought that enabling individuals to earn nursing degrees would ensure they would always find employment and be self-sufficient.
Currently, philanthropic contributions to nursing make up just one cent of every healthcare dollar donated, according to the American Nurses Association. However, some individuals, like Leonard Lauder who has donated $177 million to nursing schools, and Mark and Robyn Jones who contributed $100 million to Montana State University’s nursing program, challenge this trend. Nonetheless, no benefactor has channeled as much funding into diverse nursing programs as Conway, the co-founder of the Carlyle Group, and his late wife, Joanne Conway. Although Joanne passed away in January 2024, their philanthropic pursuits are slated to continue, with Conway having allocated just a third of his $1 billion target thus far.
To date, Conway has donated $325.6 million to enhance student aid, facilities, and faculty recruitment at 22 nursing schools across the Eastern and mid-Atlantic regions. Moreover, he is supporting a pediatric nursing initiative at Children’s National Hospital in Washington, D.C. Over a decade, these contributions have facilitated the graduation of over 7,000 nurses. Conway is now expanding his efforts on a national level.
According to Linda Aiken, a professor at the University of Pennsylvania, the nursing shortage in America is misunderstood. While public perception focuses on a lack of nurses, the reality is more complex, encompassing undervaluation, insufficient pay, and burnout among existing professionals. Furthermore, a bottleneck exists in nursing education due to a shortage of faculty, with roughly 78,000 qualified applicants being turned away in 2022 due to limited teaching resources, as per the American Association of Colleges of Nursing. There are also about 2,000 faculty vacancies at U.S. nursing schools, primarily because salaries in academia are lower than in practice.
Initially unfamiliar with nursing, the Conways were introduced to the field by a colleague’s nurse spouse. They started by funding nursing scholarships, inspired by Joanne’s desire to help students graduate debt-free. Over time, Conway expanded his donations to support infrastructure projects, faculty hiring, and advanced degree programs. His approach involves thorough engagement with potential recipients, assessing whether their institutions can graduate students without significant debt.
Conway’s contributions have resulted in dramatic changes at institutions like Catholic University, where his donations exceeded $64 million, including funds for new buildings and programs. His investments have also transformed the University of Virginia’s nursing school, with his donations supporting scholarships and new pathways into nursing.
Through personalized philanthropy, Conway tailors his giving to the unique needs of each institution, ensuring effective support for nursing education and addressing the profession’s critical challenges.
