Newswise — The Arthur W. Perdue Foundation recently announced an $8 million gift for the construction of a new home for the Franklin P. Perdue School of Business at Salisbury University.
The announcement comes on the 20th anniversary of the founding of the Perdue School, created by a multimillion-dollar endowment from Frank Perdue and Perdue Farms in 1986, and it commemorates the one-year anniversary of Mr. Perdue's passing on March 31, 2005.
The new building will replace and expand the facilities that currently support the Perdue School's academic, research and public service programs. Housed in the north wing of Holloway Hall, the University's first endowed school has outgrown its current space. Funding for the Perdue School building will come from both public and private sources. The State has made a five-year, $33 million commitment to the approximately $45 million project that includes $1.7 million in planning money in next year's capital budget. In addition to the $8 million gift from the Perdue Foundation, the Salisbury University Foundation will raise additional funds for the project during its upcoming capital campaign. The Perdue contribution toward the building is the largest private donation for a capital project in the history of the University.
"As we mark the first anniversary of my dad's passing, the Perdue family is proud to continue his support of Salisbury University and help continue Salisbury University's commitment to excellence in education," said Jim Perdue, chairman of Perdue Incorporated and president of the Arthur W. Perdue Foundation.
"This extraordinary gift will transform the very face of this campus," said SU President Janet Dudley-Eshbach. "It will redefine the teaching capabilities of our faculty, and it will change the manner in which our students prepare for success in the knowledge-based economy. It will take the collaboration between the University and this region's employers to a new level and will enable us to accommodate more students while maintaining our high standards of quality. I am deeply grateful to the Arthur W. Perdue Foundation and the Perdue family for this historic expression of generosity."
"Today's announcement is a perfect example of the public and private sectors partnering successfully in support of Maryland higher education," said Maryland Governor Robert L. Ehrlich Jr. "Salisbury University has managed its resources efficiently and has made a tremendous contribution to Maryland's economy by consistently producing workforce-ready graduates. As Governor, I have encouraged our public universities to operate more efficiently and to reach out to the private sector for support of key priorities. Salisbury University's efforts in that regard have made it one of the rising stars in higher education."
"This is truly an extraordinary day for Salisbury University and the entire University System of Maryland," said University System of Maryland Chancellor William E. "Brit" Kirwan. "The partnership between the University and Perdue Incorporated is precisely what the Governor, the legislature and the Board of Regents expect us to do "¦ balance state funding with significant private investment. It will help Salisbury University meet its expectations for enrollment growth while contributing to its state and national reputation. I am extremely grateful to the Governor and the Perdue family for making this important day possible."
The original Perdue endowment had a transforming effect on what was then Salisbury State College. The first such gift for the campus, Perdue's generosity became a model that led to other major bequests by Eastern Shore business leaders. In little over a decade, all of the University's four schools were endowed, a rarity among public institutions nationwide.
Frank Perdue attended SU in the 1930s, and the endowment marked the beginning of even closer ties between the Perdue family and the University. In 1994 he gave the Business School another $1 million after its undergraduate and graduate programs earned accreditation from AACSB International—the Association to Advance Collegiate Schools of Business. (The world's most respected accrediting body for business programs, only 15 percent of business schools worldwide have this accreditation, and the Perdue School is the only such accredited business program on the Delmarva Peninsula.) Today, the Perdue School ranks in the top 20 percent of business schools nationwide.
Serving with distinction on the Salisbury University Foundation board of directors for six years, Frank Perdue retired from the board in 2003 and was succeeded by his son, Jim, who earned his M.B.A. from SU. Frank Perdue and his wife, Mitzi, were frequent visitors to campus and hosted Perdue Scholars (students awarded academic scholarships funded by his endowment) in their home.
Just as the initial Perdue commitments were critical to the development of SU, this latest gift is part of an ongoing campus transformation. In 2002 SU dedicated its $42 million Henson Science Hall, one of the largest science buildings of its kind in Maryland. In fall 2006 the University will break ground on a $50 million education and technology complex. Longtime observers believe the construction of the Perdue School building will mark yet another new era for the University.
At the time of his second gift, Perdue said, "When we began this process "¦ we could only dream that we would have come so far so fast. "¦ I am proud to have my name associated with this fine school."
Said Dudley-Eshbach, "Salisbury University has always been proud of its partnership with Perdue Incorporated and the Perdue family. Frank's legacy will ensure the growing reputation of Salisbury University's Perdue School of Business."
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