Koch Industries gift of $1 million establishes business, engineering scholarship funds
KU Endowment Media Release
For release: September 8, 2016
September 8, 2016
FOR MORE INFORMATION, CONTACT:
Rosita McCoy/785-832-7336/ rmccoy@kuendowment.org
Michelle Tevis/785-832-7363/ mtevis@kuendowment.org
LAWRENCE, Kansas — A gift commitment of $1 million from Koch Industries, Inc., will benefit students in the schools of Business and Engineering at the University of Kansas.
The gift will be allocated to the following areas:
- $600,000 will establish the Koch Opportunity Scholars Fund, which will provide scholarships for under-represented and first-generation students. Moreover, it will provide funding for student recruitment and retention efforts.
- $240,000 will create the Koch Engineering Scholars Fund. This will provide scholarships to juniors and seniors majoring in engineering.
- $240,000 will establish the Koch Business Scholars Fund. It will provide scholarships to juniors and seniors majoring in business.
“We appreciate this generous gift,” Chancellor Bernadette Gray-Little said. “These scholarships will enable more aspiring young students to attend the University of Kansas and help juniors and seniors in our business and engineering schools prepare to contribute to the workforce and society once they graduate.”
“We hope these scholarships enable promising KU students to develop their innate talents, succeed, and help others do the same,” said Jeff Gentry, CEO of INVISTA, a Koch Industries company. Gentry has a bachelor’s degree in business from KU.
Michael Branicky, dean of KU’s School of Engineering, said this type of support is critical to student achievement.
“It leads to more graduates from KU Engineering, which directly benefits businesses in Kansas and beyond,” Branicky said.
“The School of Business is grateful for this gift, which reflects Koch Industries’ commitment to the success of all of our students,” said KU School of Business Interim Dean Jim Guthrie.
KU Endowment is the independent, nonprofit organization serving as the official fundraising and fund-management organization for KU. Founded in 1891, KU Endowment was the first foundation of its kind at a U.S. public university.
Click here to read the Fund Administration Agreement.