Western Michigan University’s Haworth College of Business receives $17 million gift

Western Michigan University’s Haworth College of Business has received a $17 million gift from The Stan Lucas Trust, whose co-trustee is university alumnus Dan Grady. The funding, which is the largest financial gift in the Haworth College of Business’ history, will fund Experience-Driven Learning Initiatives like hands-on learning opportunities and innovation.

According to an article on Western Michigan University’s website, Russ Kavalhuna, the university’s president, is quoted as saying of the funding, “This extraordinary act of generosity to the Haworth College of Business is both humbling and inspiring. That someone with no direct ties to the University would choose to invest in students speaks volumes about the important role state and regional universities play in expanding opportunity. We are equally inspired by the generosity of Mr. Grady, whose own experience as a Bronco alumnus reinforces the power of WMU’s experience-driven education.”

The $17 million gift from The Stan Lucas Trust will fund Experience-Driven Learning Initiatives within the Haworth College of Business, including entrepreneurship programs, curriculum development that focuses on capitalism and free markets, financial literacy education, and student career readiness opportunities, among others.

Dr. Satish Deshpande, the dean of the Haworth College of Business, said, “This generous gift positions the college to design impactful experiences that engage students in the types of active learning opportunities that give them the skills, confidence and knowledge to lead and thrive in a rapidly evolving global economy. This gift will provide support for generations of business leaders who will positively influence both the business world and the world at large in significant ways. We are so grateful to alumnus Dan Grady and The Stan Lucas Trust for this phenomenal gift.”

The gift comes from the trust thanks to university alumnus Dan Grady. Grady earned an athletic scholarship to Western Michigan University. He was a talented football player and coach, and his experience in athletics became useful to him during his business education. During a final project in one of his business courses, Grady proposed something unusual: presenting their work around a conference table, which is more realistic to a business setting than doing so at a podium.

Grady said, “I remember a capstone project where we had to create a business plan, including a full financial plan. In that process, I learned teamwork and leadership; it was a great foundation for leading people in my banking career. In that project, we all had to work together to be successful. I even recall the business—a dry cleaner’s. What is special about my time at Western is the way I felt while I was there. We had small classes with professors you could always approach for help. My walks to East Campus are among my favorite memories. While specific courses have faded in my memory, it is the experience at Western that I remember and cherish.”

He went on to say, “Stan Lucas wanted to support higher education and had an affinity for state schools, knowing that there is a real need for resources and that this bequest could be significant in helping students access an excellent education. He allowed the trustees of his estate to decide which school would be the beneficiary of this bequest, and I advocated for WMU Haworth. This is my way to repay the University for all I received and to make an impact at a place that has been so dear to me throughout my life.”

For more information about Western Michigan University, visit the school’s website.