Auburn University's College of Business receives largest gift
June 26, 2013
No matter the college, many alumni have an interest in putting money back into their school once they make it in the real world. Some decide to create scholarships, others donate money to construction projects, while a number of individuals would prefer to fund expansion initiatives within specific majors, among countless other options.
In Alabama, Auburn University's College of Business recently received a gift of $40 million from alumnus Raymond Harbert, and it marks the largest commitment ever given to the university. In thanks, the university decided to rename the college the Raymond J. Harbert College of Business.
The money will go toward faculty retention, building a research center for students interested in securities and wealth creation, establishing a doctoral program focused on finance and other aims.
"I am interested in helping the university become the best it can be," Harbert said. "I have been blessed with success in my business endeavors, which in turn allows me to make that capital available as an investment in the College of Business' future."
Individuals at Auburn have also been involved in making donations lately. The State reported that the University of South Carolina's women's head basketball coach Dawn Staley recently began Innersole to supply kids from low income families with sneakers. A number of coaches from Auburn gave money to the initiative.
Organizations that are looking to raise funds through grant opportunities or local campaigns can use nonprofit financial management solutions to improve their chances of success. The software can help program leaders identify potential donors and send out applications with accurate accounting information.