yellow, orange, and white balloons
June 28, 2017
Lesanne B. Fliehler

The Tippie College of Business community came out in force to support the college during the most recently completed UI comprehensive campaign, For Iowa. Forever More. The campaign, which raised $1.975 billion to support the university, included $126.6 million for the college.

The college’s bucket list—its campaign goals—covered all areas, including support for faculty, students, programs, and facilities:

  • Student Support: $27.4 million
  • Program Support: $27.4 million
  • Faculty Support: $16.1 million
  • Facility Support: $2.4 million

“I can’t stress enough the importance of each and every gift,” says Sarah Fisher Gardial, dean of the college. “All gifts combined will truly help us make transformational changes within the college. The college is already feeling the impact of these gifts, and we’re so indebted to our alumni, faculty, staff, and friends for their support.”

INCREASED NEED FOR FACULTY SUPPORT

One of the college’s important requests was for faculty support.

“It has become very obvious to me how important private funds are to the Tippie College of Business,” says Kurt Anstreicher, senior associate dean of the college. “In particular, we would never be able to hire and retain our tenured faculty without the use of private support in the form of fellowships, professorships, and chairs. Unrestricted funds from private donations have also become increasingly important in recent years as state support has decreased,” he says.

Among the many alumni who stepped up to support Tippie faculty members through their gifts were Linda (BA68) and Dale (BBA68) Baker, president of Baker Healthcare Consulting.

Their gifts allowed the college to offer increased summer research support to assistant professors. For many, summer is the perfect time to work on research without interruption.

Because of the financial support assistant professor Samuel Melessa received last summer, he was able to devote all of his “time and attention to making progress on my research agenda.” For example, he completed revisions and submitted a paper to the Journal of Accounting and Economics, worked with co-authors from Iowa and Nebraska on another working paper regarding the growth in the length of annual reports over the past century, and spent time working closely with doctoral students Olivia Huseman on her dissertation and with Wei Chen on several joint research projects as well as his dissertation.

Summer funding is critical, says Sang Hak Le, assistant professor of marketing. It not only provides the financial means to move his research projects forward, but it motivates him emotionally.

“Because of this funding, I know the college cares about and supports the research activities of its junior faculty members. The fact that I belong to an institution that values and supports my research is always encouraging and very meaningful to me,” he says.

GIFTS CREATE NEW FUNDS

More than 2,000 gifts the UI Foundation received were from first-time givers, and some gifts created newly endowed funds, ranging from gifts for faculty support and student scholarships to funds that will support study abroad and experiential learning experiences for students.

One new gift came from the college’s Young Alumni Board (YAB) members.

For the past five years, 100% of the YAB board members have contributed to the college through the UI Foundation. The new fund takes their giving to another level — the board pledged $50,000 to support alumni programming and engagement activities in the Undergraduate Program.

“From our perspective, giving back to the college has been a priority, especially to get to 100% participation,” says Spencer Anderson (BBA09, MBA13), YAB fundraising chair and manager of basketball administration with the Indiana Pacers. “Late last year we learned that the college hadn’t quite met its campaign goal, and given the competitive nature of most business students, we wanted to make sure we helped put the college over the top.”

Giving back and showing the impact that young alumni can have are points of pride for the YAB, but the board is also proud that they are contributing to the success of current and future students. The gift will be used for student services such as career readiness programs, current YAB mentoring programs, and for alumni engagement activities, which will encourage young alumni to stay connected to the college and to give back.

“Making the transition from being a student to being a successful young professional is one key activity the board supports, and this gift will help us sustain that,” Anderson says. “While we’re making an impact today, board members years from now will be able to direct funds to adapt to students’ needs in the future.” (To give to the YAB, visit givetoiowa.org/yab.)

MORE STUDY-ABROAD OPPORTUNITIES AVAILABLE TODAY

Typically, about 20% of Tippie students participate in an international experience before graduating — and the college wants that to increase.

Thanks to the recent comprehensive campaign, there are new funds to make it a reality for more students. One gift came from an alumnus whose life was enriched in many ways due to study abroad.

Trevor Schauenberg (BBA91), who today is president and CEO of GE Capital Industrial Finance in Chicago, knew working abroad for a summer internship was something he wanted to do, but it was a struggle to make it happen.

“I started to look around for resources at the university, and my best find was in the basement of Phillips Hall in the small library there,” he says. “I found a tiny brochure where I learned about how to obtain a working visa for London.”

After writing 50 letters to financial firms and banks in London, he received two internship opportunities — one with PricewaterhouseCoopers and one with Merrill Lynch.

“I chose Merrill Lynch and received a paid summer internship. At the time, I didn’t know anyone else who was doing something like that.”

Schauenberg returned to the United States a changed person, he says.

“In Merrill Lynch’s Central European Private Banking Group, I worked with people from all around the world,” he says. “Just being exposed to how other people think and are motivated was invaluable. Plus, I learned to listen and understand people more, and that made me a different person.”

Throughout his leadership roles with GE Capital, Schauenberg has lived overseas for about six years and has traveled abroad many times throughout his 26 years with the company. When he became the lead recruiter for Iowa, he came to the University of Iowa twice a year to recruit students for the company’s financial management program. He found few had international experiences or weren’t very mobile.

“Many students hadn’t left the Midwest, hadn’t traveled outside the United States, or even had the travel bug,” he says. “GE Capital is a company with many global locations, and we want employees to move among those locations, so the more students have traveled, the more receptive they are to leaving the Midwest. The Trevor Schauenberg Global Internship Fund will make study-abroad experiences for students more accessible and will, I hope, broaden their educational experiences and help shape how they view the world.”

UPDATING OUR FACILITIES

When was the last time you stepped foot in the Pomerantz Business Library in the Pappajohn Business Building? You may remember you needed to walk through turnstiles, check out materials from someone at the desk, or wait until 8 a.m. for it to open. When you visit campus in 2018, you’ll be surprised at the renovations.

For the past two years, the college has considered renovations to the Pappajohn Business Building that would allow for more group study spots, collaborative areas, and spaces “to relax in,” says Jim Chaffee, assistant dean of information technology and facilities.

“Education is very different today than when the building was opened in the spring of 1994,” Chaffee says. “We knew we would eventually have to modify some areas.”

As part of the comprehensive campaign, the college received several estate gifts to support the remodeling plans, and Kevin (BBA80) and Donna Gruneich gave a lead gift of $1.25 million (matched by Henry Tippie) for renovations to the Pomerantz Business Library.

The enhancements, which begin in June, will create more group study spaces, lounge areas, standing laptop cubicles, and more traditional table seating. A new café will offer smoothies, espresso, and other items yet to be determined. In addition, office space will be created for the Judith R. Frank Business Communications Center so students have easy access to peer tutors while working on assignments in the library.

“The entire space will be wide open,” Chaffee says, “and students will have access to the area 24 hours a day, without someone having to be at the checkout desk the entire time.

“Our hope is that the space will be inviting to both faculty and students. Maybe a faculty member needs a coffee, runs into a student, and has the opportunity for a relaxed conversation about class that day,” Chaffee says. “We hope the area pulls in faculty and staff with students in a more robust way than is currently possible.”

MOST SUCCESSFUL FUNDRAISING CAMPAIGN TO DATE

The For Iowa. Forever More. comprehensive campaign is the most successful fundraising campaign in the history of the University of Iowa. More than 272,000 UI alumni and friends—enough to fill Kinnick Stadium nearly four times—contributed more than $1.975 billion to help the UI remain at the forefront of education, research, and health care.

Donors from 99 Iowa counties, 50 states, and 76 countries contributed to the campaign, directing their gifts to benefit the areas of the university they care about most and helping the UI pass its $1.7 billion goal. This support includes undergraduate and graduate scholarship funds, new faculty chairs and professorships, funds that support vital research and academic programs, exceptional performing, visual arts and creative writing programs, and Hawkeye student-athletes and programs.

More than half of the contributors to the campaign gave $100 or less, totaling $4.6 million and showing the collective power of the UI’s generous donors. Thirty-two percent of donors are alumni, and 68 percent are Iowa friends, patients, and fans. Many donors chose to invest their gifts in an endowment, with annual payouts benefiting the university for future generations of students.

“Our donors are helping to ensure the UI continues its role as one of the top public research universities in the nation and as the state’s premier academic medical center, with world-renowned arts programs and exceptional undergraduate and graduate programs,” said UI President Bruce Harreld. “Private giving is crucial to our university’s success, and we are incredibly thankful to everyone who contributed to the campaign.”

Gifts to the Tippie College of Business may be given online at givetoiowa. org/business.