AMES, Iowa -- The College of Business at Iowa State University has received a gift of $50 million from a California couple with ties to the school.
The historic commitment will see the ISU Business College named after Jerry and Debbie Ivy, of Los Altos Hills, California, for their gift. The money will be used in an endowment, which is expected to raise $2 million in funds for the college each year. The funds will be used to support programs in entrepreneurship, supply chain management, and business analytics.
“The Ivys’ generosity is a powerful endorsement of the college’s programs, leadership, and upward trajectory," said Benjamin Allen, Iowa State University's interim president. “This is a transformative gift that will exponentially expand the college’s commitment to provide leading-edge programs and modern learning environments."
Jerry Ivy earned his bachelor’s degree in Industrial Administration from Iowa State in 1953. He is president and CEO of Auto-Chlor System in Mountain View, California.
“This is a very special place, and you all are so lucky to be a part of this,” said Debbie Ivy at a ceremony on campus Monday. “With this gift, we’re hoping this will enable not only the staff and the university, but the students all the way through, to be able to reach out and just keep expanding your goals and your dreams and your possibilities.”
“Debbie and I value a strong education and feel that Iowa State University and the College of Business provide an exceptional experience for its students,” said Jerry Ivy in a news release. “We hope this gift will play a role in preparing our next generation of business leaders, and we want to help support students and faculty who will make a difference today, and far into the future.”
“I’d like to express my gratitude to the Ivys for their visionary gift,” said Raisbeck Endowed Dean David Spalding in a news release. “The magnitude of their generosity will have a tremendous impact, creating an ongoing resource that will enable us--now and in the future--to strategically invest in current priorities and future aspirations.”