in East Lansing has announced a $25 million challenge gift from MSU alumnus Eli Broad and his wife, Edythe, to expand the .
The gift, which launches the public phase of the university's $1.5 billion campaign, will help the university raise an additional $80 million through matching gifts from other donors to expand its MBA and graduate programs, including a $60 million graduate pavilion to house MBA and professional graduate programs at the . The school plans to invest $25 million of the matched funds in several scholarship endowments for students with unique perspectives and from diverse backgrounds.
"The investment of the Broad challenge gift and the additional gifts it will leverage are crucial for the continued improvement of the college in a very competitive environment," said Sanjay Gupta, acting dean of the college and Russell E. Palmer Endowed Professor in Accounting. "More importantly it will allow us to aggressively innovate and evolve our graduate programs."
Co-founders of the Los Angeles-based and early signatories to the , the Broads both attended public schools in Detroit and were married in 1954, the year Eli Broad graduated from MSU. In 2007, their commitment to build a world-class art museum on campus led to construction of the university’s Zaha Hadid-designed facility. The couple’s latest commitment boosts their giving to the university to nearly $100 million.
"Eli and Edythe Broad’s commitment to Michigan State University is extraordinary and will have a lasting impact," said MSU president Lou Anna K. Simon. "This latest gift entrusts us with significant resources to build and grow the quality and reputation of the Eli Broad College of Business, which will help ensure our students and faculty have the tools to make a difference in business and society."