September 14, 2001

Loyola awarded $920,000 in matching funds for endowed chairs

_Loyola received $920,000 in matching funds for two endowed chairs and three professorships. The State of Louisiana Board of Regents for postsecondary education distributed a total $7.72 million to public and private colleges and institutions across the state. The interest earned through the Louisiana Education Quality Support Fund supplies the monies for these awards. A special appropriation from surplus funds was approved by the legislature during the last session also provided additional funding. This represents the largest single-year increase in the 15-year history of the program.

A major purpose of the endowed chairs for eminent scholars programs is to create stronger economic development ties between the private sector and higher education. To create endowed chairs for eminent scholars, colleges and universities must raise 60 percent of the cost from private sources.

The Loyola matching funds endowed chairs came from several sources. The Gerald N. Gaston Eminent Chair in International Business and Gerald N. Gaston Distinguished Professorship in Science and Religion were funded through gifts from Gerald Gaston. The Adams and Reese Distinguished Professorship in Law was the result of a gift from attorneys with the law firm of Adams and Reese. The alumni of the Loyola Beggars fraternity donated funds for the Rev. Aloysius B. Goodspeed, S. J./Beggars Distinguished Professorship in Communications. Funding for the Rev. John H. Mullahy, S. J., Eminent Chair in Environmental Biology was provided by graduates of the Department of Biology.

Pictured with University President Bernard P. Knoth, S.J. (center) at the Board of Regents presentation are Dr. Donald Faust, A'73; Kenneth Klein, A'67; Gerald N. Gaston, G'65; Marilyn V. Dittmann, A '64; Albert S. Dittmann, Jr., A' 63, L'66; and Dr. E. Joseph Savoie, Louisiana commissioner of higher education.