Lanes Donate $5M to UI Finance, Football
University of Iowa alumnus Curt Lane remembers the challenge he faced in finding a job fresh off earning his graduate degree.
Lane, 64, wanted to work in investment management, but no one wanted to hire someone with no experience to manage their financial portfolios.
That’s why he and his wife Carol, who both grew up in Atlantic, graduated from UI in 1973 and now live in Omaha, provide financial support for courses that provide hand-on experience to both graduate and undergraduate students.
Curt Lane eventually went on to co-found Concordant Partners LLC, an Omaha-based hedge fund. He also serves on the UI Foundation Board of Directors and in a number of other advisory roles.
The couple’s most recent gift to the university, a $5 million estate commitment to the UI Foundation, was announced on Wednesday.
About $1 million of that will permanently endow the existing Curt and Carol Lane Faculty Fellowship Fund, which was established in 2003 with a previous gift from the couple.
It supports a faculty member who provides practical learning opportunities for UI students, including applied investment courses.
“They are managing live money, so when they graduate and go to look for a job they will be able to show what stocks they invested in and how they managed those funds,” Lane said. “It gives them somewhat of an edge.”
The remaining $4 million will be split between a scholarship fund for undergraduate finance majors and a football scholarship fund that will support selected Hawkeye players.
“My father took me to my first Iowa game when I was eight or nine years old,” Lane said of his love for the Hawkeyes. “I was hooked from the beginning.”
Through his ongoing work with the business college, Lane has worked with Henry B. Tippie and John Pappajohn who’ve served as models of how to be a philanthropist, Lane said.
Carol Lane, who received a Bachelor of Arts degree in home economics from UI, said she wants to help provide the same education she and Curt received.
“We both feel the University of Iowa gave us our chance to succeed,” she said. “It was important to both of us, and our time here was a great start to our life together. Now we want to complete the circle.”