Gifts and Donations

Institutions announce new sources of funding.

The University of Virginia Darden School of Business in Charlottesville has received a US$68 million gift from Sands Capital Management founder Frank M. Sands Sr. The gift, the largest in the business school’s history, will be used to fund the new Sands Institute for Lifelong Learning. It also will be used to retain and develop Darden faculty and to transform the school’s educational facilities. Sands’ gift will be combined with $14 million in matching funds from UVA’s Bicentennial Professors Fund.

With the help of an anonymous US$15 million gift, the Wharton School of the University of Pennsylvania in Philadelphia has created the Data Science and Business Fund, which will support the establishment of Analytics at Wharton. The initiative will bring together several existing programs, including Customer Analytics, People Analytics, Wharton Neuroscience, the Penn Wharton Budget Model, and Wharton Research Data Services.

Virginia Commonwealth University in Richmond has announced a US$5 million gift from the Virginia Credit Union to fund two endowments at the VCU School of Business over the next five years. The first, the Virginia Credit Union Endowment for Financial Wellness, will support the delivery of financial literacy programming to students, faculty, and staff. The second will support a new position, the Virginia Credit Union Director for Financial Wellness, who will champion universitywide collaboration and related scholarship.

Purdue University in West Lafayette, Indiana, has received a US$5 million gift from private equity investor John Krenicki Jr. and his wife, Donna. The gift will support a business analytics center in the Krannert School of Management. The renamed John and Donna Krenicki Center for Business Analytics and Machine Learning Activities will be the site for research, student-led consulting projects, conferences, and competitions.