Drew began offering graduate-level education in 1912. The university expanded its graduate education programs, focusing on religious studies and establishing the Graduate School, a third of Drew's degree-granting entities, in 1955, under the leadership of the university's seventh president, Fred Holloway. Holloway also delivered on goals set during previous administrations, overseeing the renovation and rebuilding of the Drew campus, including the Baldwin Gymnasium and several dormitories. Four years later, it would expand the curriculum into other areas of the humanities. The Graduate School was renamed as the "Caspersen School of Graduate Studies" after a pledge of $5,000,000 in 1999 by financier Finn M. W. Caspersen (1941–2009) and his wife (and Drew alumna) Barbara Morris Caspersen (1945-2017).