The grant establishes an annual endowed scholarship that will benefit a Juilliard music student. Schwarz, who is currently in his 21st season as Seattle Symphony music director, received his bachelor of music degree from Juilliard in 1972 and his master of music in trumpet in 1990. He was awarded an honorary doctor of music degree by Juilliard in 1996. Jody Schwarz received her master of music degree in flute from Juilliard in 1982.
Anthony Newman, Juilliard's vice president for development and public affairs, said, "Gerry and Jody Schwarz are such positive and enthusiastic friends of Juilliard, and are together such a compelling force for the rightful place of the arts in our society. Given their artistry and their advocacy, it is a particular pleasure for all of us at Juilliard to have the school be the place where the Simonyi Fund makes this extremely generous statement of regard for them and support for young artists at Juilliard."
Founded in late 2003, the $75 million Charles Simonyi Fund for Arts and Sciences provides grants to organizations in the arts, sciences, and education. The fund's first major gift was $10 million in January 2004 to the Seattle Symphony to celebrate its 100th anniversary.