(Ames, Iowa) Iowa State University is announcing an historic 50-(M) million dollar commitment to the College of Business.
ISU says the gift, from Debbie and Jerry Ivy of Los Altos Hills, California is the largest-ever commitment to the college.
ISU will rename the college the Debbie and Jerry Ivy College of Business, pending approval from the Iowa Board of Regents, which is expected in October. Dean David Spaulding tells WHO Radio News, that while the name of the college is changing, the building on campus will still be called the Gerdin Business building.
Jerry Ivy earned is bachelor's degree from ISU in 1953. He's the President and CEO of Auto-Chlor System, of Mountain View, California, where Debbie Ivy is on the executive team.
“The Ivys’ generosity is a powerful endorsement of the college’s programs, leadership and upward trajectory. This is a transformative gift that will exponentially expand the college’s commitment to provide leading-edge programs and modern learning environments, compete for world-class faculty, and increase student scholarships and other high-impact educational opportunities,” said Iowa State University Interim President Benjamin J. Allen. “As former dean of the College of Business, this is a once-in-a-lifetime opportunity to return to Iowa State and be part of this landmark moment in the college’s history.”
The gift will create an endowed fund to eventually provide approximately $2 million annually designated to the College of Business for short and long-term priorities.
The Ivy gift is part of an ongoing campaign, Forever True, For Iowa State, which seeks to raise $1.1 billion for the university by July 2020.