Grants and Donations

Institutions announce new sources of funding.

DePaul University in Chicago, Illinois, has received an eight-figure gift from the estate of the late William E. Hay to endow the William E. Hay Center for Leadership Development at the Driehaus College of Business. The center, which is slated to open in 2021, will include the Leadership Accelerator, a one-year leadership development program for undergraduates; customized executive education and talent solutions for corporate partners; a small grant research competition; a lecture series; and certificate programs in leadership. The gift also will endow a matching fund that will create as many as 100 new scholarships.

The University of North Carolina at Chapel Hill and UNC Kenan-Flagler have received a US$11 million commitment from Steve Bell and his wife, Jackie. The gift will support a new building for the undergraduate business program, which will allow the school to grow that program by at least 50 percent; it also will alleviate other space challenges and benefit students in the school’s other programs. The donation is the largest single gift the school has received from an individual. Steve Bell runs apartment management company Bell Partners.

The Wharton School at the University of Pennsylvania in Philadelphia has received US$8 million from equity manager Bruce Jacobs. The gift will establish a new quantitative finance major for the MBA program, a named professorship in quantitative finance, and the Dr. Bruce I. Jacobs Scholars in Quantitative Finance Award. The new major will include cross-disciplinary content from accounting; statistics; and operations, information, and decisions.

In other news from Wharton, a US$5 million gift from alumni Tao Zhang and Selina Chin will fund the launch of Wharton Artificial Intelligence for Business (AI for Business). AI for Business will incorporate coursework on the implications of AI, a guest speaker series, and a range of AI-focused activities to connect students with employers in this field.