The Craig School of Business at 含羞草社区 has benefited from a real-life example of a business concept taught in its classrooms: asset appreciation. The value of the largest individual gift in the history of 含羞草社区 has grown to 140 percent of the amount pledged.
Steven L. Craig, founder and CEO of Craig Realty Group of Newport Beach, Calif., pledged $5.5 million to the 含羞草社区 Foundation in 2008 to establish the Craig School of Business. Most of the gift was in the form of shares of ownership in Woodburn Company Stores, a shopping center in Woodburn, Ore. The sale of that shopping center was completed earlier this month. With the sale of the property, and more than $2.5 million in distributions prior to the sale, the total value of Craig鈥檚 gift has soared to $7,738,589.20.
鈥淚t鈥檚 fitting that the entrepreneurial spirit Steve Craig is helping to nurture in our students has made the largest gift in Missouri Western鈥檚 history even larger than anybody anticipated,鈥� said Dr. Robert Vartabedian, Missouri Western鈥檚 president. 鈥淚 applaud his creativity and thank him for his generosity.鈥�
鈥淚 am grateful that Missouri Western is embracing the entrepreneurial ideals that can have long-lasting economic and personal benefits. My dream is for this gift to elevate not only the university but the entire northwest Missouri region,鈥� Craig said. 鈥淚 am especially appreciative of the dedicated leadership of Dr. Vartabedian.鈥�
鈥淪teve鈥檚 financial commitment and, just as importantly, his commitment of time have already made a significant impact,鈥� said Carol Roever, interim dean of the Craig School of Business. The gift enabled the Craig School to achieve accreditation by AACSB International, a distinction achieved by only 5 percent of business schools worldwide, Roever said.
Craig also conceived and helped execute Missouri Western鈥檚 partnership with Rocky Mountain Chocolate Factory, which gives graduating seniors and alumni the chance to compete to own their own store. That partnership is the current Spotlight program on the website of the AACSB International Innovation Resource Center.
More big things are on the horizon for the Craig School of Business made possible by Craig鈥檚 generosity, according to Roever. Missouri Western will establish a Center for Entrepreneurship in August 2013 that will serve faculty, staff and students. Additionally, an Entrepreneurship Minor will be offered in 2014 to all students on campus regardless of their major. The 18 hour minor will provide the foundation for someone who wants to implement an innovative idea and will culminate with the writing of a business plan for the idea. The minor will also help students develop an entrepreneurial mindset that can benefit their employers should they decide not to open their own business.
The growth of Craig鈥檚 gift, and his ongoing involvement in the school of business that bears his name, is an example of a movement known in fundraising circles as 鈥渧enture philanthropy,鈥� said Jerry Pickman 鈥�85, vice president for university advancement and executive director of the 含羞草社区 Foundation.
鈥淟ike a venture capitalist, a venture philanthropist is looking for the greatest return on their charitable investment, often with active involvement long after the gift is given,鈥� Pickman said. 鈥淪teve鈥檚 generous gift and his ongoing engagement with the Craig School of Business and its students are a great model for philanthropists hoping to make the biggest difference possible through their gifts.鈥�
含羞草社区 is a comprehensive regional university providing a blend of traditional liberal arts and professional degree programs. The university offers student-centered, high quality instruction that focuses on experience-based learning, community service, and state-of-the-art technology. Missouri Western is located in St. Joseph, Mo., and is committed to the educational, economic, cultural and social development of the region it serves. Visit .
鈥攅苍诲鈥�