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Award for business complex shows confidence in college’s vision |
| By
Jon Strunk |
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Nov 11, 2007 |
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UT officials are calling a large grant to the College of Business Administration by the Kresge Foundation a strong vote of confidence and a validation of the college’s vision for its future.
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| An artistic rendering by Munger Munger & Associates of Toledo shows what the Savage and Associates Complex for Business Learning and Engagement may look like. |
A challenge grant — meaning UT must raise money to match the award amount — the $900,000 Kresge grant will go to pay for physical and technological infrastructure of the new Savage and Associates Complex for Business Learning and Engagement, which has its groundbreaking last month just north of Stranahan Hall on Main Campus.
“While we are obviously confident in our strategic plan looking forward, this is a tremendous external validation that the College of Business Administration is headed down a path that leads to enhanced national prominence,” said Dr. Tom Gutteridge, dean of the college, who also pointed out UT was the only organization in Ohio to receive any of the $45.5 million the Kresge Foundation awarded this year.
Gutteridge explained that a Kresge grant is so special because of the process that goes into applying for the funds.
“Ellen Ingram [director of corporate and foundation relations] spent two years working to pull together all of the information Kresge used to evaluate us — not just our plan for the new building, but our vision for the college, UT diversity and enrollment numbers, current alumni support, current donor support, etc.,” Gutteridge said. “When Kresge looks to invest, they’re looking for winners; and they’ve chosen UT.”
Vern Snyder, vice president for institutional advancement, said the Kresge Foundation’s dedication to a project even after they award the money is fairly unique.
“Not only does Kresge help guide you during the application process, they work with you after a grant is awarded to help you achieve what you set out to accomplish,” Snyder said. “They’re as interested in our success as we are.”
Gutteridge said the nature of the Kresge grant requiring the award to be matched will enable the college to approach new donors and offer them the chance to see their gifts multiplied.
Due to the efforts of principal gifts officer Barbara Tartaglia, the dean said the college is already on track to surpass the fund-raising goals put in place to help augment the building of the new complex, renovating Stranahan Hall and enhancing the college’s technological infrastructure. They look forward to reaching out to new donors.
“Because the Kresge money must pay for bricks, mortar and technology, it allows the college some flexibility to use some of the undesignated gifts we’ve already received to enhance the new complex to create a better learning experience for students and a be better partner for the business community,” Gutteridge said.
The Kresge Foundation has a $3 billion endowment it uses to strengthen nonprofit organizations by awarding money and challenging organizations around the globe to leverage grants to build relationships and bring more people into the philanthropic world, according to its Web site.
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