Alumni give $25 million to Olin Business School at Washington University in St. Louis
November 22, 2011
Thanks to a gift from longtime supporters, Washington University in St. Louis recently got money to help with a nonprofit fundraising
effort to expand its business school.
Alumni George and Carol Bauer and Charles F. and Joanne Knight gave two donations totalling $25 million to help with the institution's $90 million expansion effort at its Olin Business School.
The head of the business school said the funds would help the school educate even more students than before.
"Our growth has far exceeded the planned capacity of our existing buildings, Simon Hall and the Charles F. Knight Executive Education Center," said Mahendra Gupta, dean of the business school. "These generous gifts, with additional support from our loyal alumni and friends, will help break through that physical barrier and allow us to continue building a world-class business school
The Olin Business School made other headlines when it came to the nonprofit fundraising sector. Earlier this month, it released a study that found charity efforts were more effective if the organization had a specific initiative.