According to Fordham University's press release:
“Show me a successful individual, and I’ll show you someone who has had positive influences in his or her life. The late Bob Stone, my mentor, was a former actor and professor at Fordham University. Bob was one of those influences in my life. He believed in me and gave me something to live up to,” Washington said. “I wanted to create the Denzel Washington Endowed Scholarship and Chair in Theatre at Fordham in order to offer the next generation of students positive influences. Phylicia Rashad, as the inaugural holder of the chair, will provide the care, compassion and that extra push to help take students where they’re meant to go.”