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(Des Moines, IA) — Drake University is getting $3.15 million from Sammons Financial Group. The gift will go toward renovations, developing campus spaces, and creating endowed scholarships.
One million dollars will go toward turning Morehouse Hall, a residence hall, into the Sammons Intercultural Center, a student center. Around $750,000 will go toward creating Sammons Plaza, an outdoor community space.
The gift will expand scholarship programs, creating 14 endowed scholarships totaling $1.4 million.
“Sammons Financial Group and Drake University have enjoyed a supportive, long-term relationship,” Chairman and CEO Esfand Dinshaw said in a statement. “As a financial services leader in the Des Moines area, it is incumbent upon our company to do all we can to invest in the next generation of business leaders.”
The gift from Sammons Financial Group is one of the largest gifts Drake University has ever received.