MSU's Broad School of Business Takes $2 million To The Bank

1/7/98

MSU's BROAD SCHOOL OF BUSINESS TAKES $2 MILLION TO THE BANK

EAST LANSING, Mich. -- A $2-million gift will help Michigan State University's Eli Broad College of Business and Graduate School of Management expand its emphasis on information technology.

The money comes as a gift from the school's benefactor and namesake, Eli Broad, chief executive officer of SunAmerica Inc., a Southern California-based, multibillion-dollar financial services company specializing in retirement savings. Broad is also a 1954 MSU alumnus.

"Eli Broad is the best friend this college has ever had," said James Henry, dean of the Broad School. "His astute knowledge and insights keep us focused on today's business realities to the benefit of all of our students."

The majority of the money has already been given to the school. The remaining difference of $800,000 will be given to the school in equal installments over the next four years. It will be used to create two new professorships to meet the demand of the school's information technology concentration, fund scholarships for first-year MBA students and provide continuing support for second-year MBA students with graduate assistantships and fellowships. The gift also will provide for the creation of an endowed Broad Distinguished Lecture series

"The Broad School is accomplishing its goals and rising in the national rankings," said, Broad. "This progress is reflected in the number of highly qualified students in this year's entering class. I am delighted to remain involved in the continuing efforts of Dean Henry and the Broad School faculty and staff."

"This gift will allow the Broad School to remain on course in the pursuit of excellence," said MSU President Peter McPherson. "It will help Broad School faculty and staff in their effort to provide our MBA students with the tools that are essential for success in today's global economy."

In 1991, Broad gave the school a $20 million endowment to develop an MBA program focused on training future business leaders to compete in a global business environment. At that time it was the largest individual gift to a college of business at a public university in the country, and the largest ever to a college or university in Michigan.

Contact, Ron Collins, Media Communications, at (517) 355-2281.