KNOXVILLE, Tenn. — The college of business at the University of Tennessee-Knoxville has received a gift of $2.3 million, largest in its history.

 Dr. Warren Neel, business dean, said the pledge, which counts toward UT’s 21st Century Campaign to raise $308 million in private gifts, was made anonymously by an alumnus and his wife.

 A portion of the gift, $2,050,000, will establish a Strategic Initiative Endowment fund for the college, while the remaining $250,000 will be used for a professorship in accounting,” Neel said.

 ”We are indebted to our special friends whose investment will affect the lives of thousands of students and faculty in the decades to come,” Neel said.

 ”The endowment and the professorship will provide funds for outstanding faculty who can envision a rapidly changing global economy and prepare appropriate curricula to insure our students get the education they will need.”

 Dr. Keith Stanga, head of the accounting department, said the new professorship will be awarded on a renewable three-year term to help attract or retain a top faculty member.

 The award will be based on teaching, research and leadership in the department and in the accounting profession, Stanga said.

 UT-Knoxville Chancellor Bill Snyder said the donors recognized the resources needed to meet the future needs of students.

 ”Private gifts, combined with a solid base of state appropriations, are essential to the strategic planning efforts at UT-Knoxville,” Snyder said.

 UT President Joe Johnson said private giving has helped numerous academic programs rise to levels of national prominence.

 ”The College of Business Administration, one of the top 50 in the nation, can thank the thousands of alumni and friends who have given generously for many years,” Johnson said.

The $2.3 million gift brings to 59 the number of gifts in excess of $1 million pledged to the 21st Century Campaign, Johnson said.

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 Contact: Dr. Warren Neel (423-974-5061)

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