Gifts and Donations

Institutions announce new sources of funding.

The University of Miami Business School in Florida has been renamed the Patti and Allan Herbert Business School in honor of a couple who, with a new gift to the business school, have donated more than US$100 million to the university over their lifetimes. To spur others to support the Miami Herbert Business School, the donors also have created the Herbert Challenge, which will match gifts up to an established amount. Money from the challenge will support endowed chairs, academic programs, and student scholarships. The gift and the challenge initiative also will support interdisciplinary academic clusters, such as a planned new Center for Sustainable Business. In addition, a portion of the Herberts’ gift will be used to attract challenge grants to build out other centers of excellence, including those dedicated to entrepreneurship, leadership, decision making, analytics, and global operations.

Carolyn L. and David B. Miller have committed US$50 million to Southern Methodist University’s Edwin L. Cox School of Business in Dallas, Texas. The money will enable the Cox School to modernize its curriculum, offer more scholarships, enhance its facilities, and develop interdisciplinary cross-campus collaborations. Previous gifts from the Millers have supported the Cox School’s David B. Miller Endowed Professorship, the Don Jackson Center for Financial Studies, and the EnCap Investments & LCM Group Alternative Asset Management Center. David Miller was co-founder of EnCap Investments.

The Tuck School of Business at Dartmouth College in Hanover, New Hampshire, has announced a US$25 million gift commitment from the Bakala Foundation USA. The gift will endow Tuck Global Opportunities—or TuckGO—a portfolio of for-credit immersive educational experiences that make up Tuck’s global learning requirement. The gift also creates the Bakala Global Suite, which will be the future home of the TuckGO offices and a hub for student, faculty, and staff collaboration. The Bakala Foundation was established by investment banker Zdeneˇk Bakala and his wife, Michaela.

The Stern School of Business at New York University in New York City has received a US$5 million gift from alumna and entrepreneur Elizabeth Elting. Over the course of ten years, the gift will support 40 female MBA students and provide seed capital to 20 women-led businesses through the Elizabeth Elting Venture Fund, in association with the school’s Endless Frontier Labs program. Elting was founder and co-CEO of TransPerfect, a language solutions company she started out of a NYU dorm room.