Benjamin Franklin founded the University of Pennsylvania as a secular institution with the pragmatic aim of instilling in its students the inclination and ability to serve humankind in both the civic and mercantile realms. On this, the three hundredth anniversary of his birth (1706-2006), Franklin's ideal of a democratic, engaged university has finally begun to bear fruit. This article reflects on twenty years of experience and describes the University of Pennsylvania's progress toward and challenges to achieving Franklin's dream.