Loyola’s Quinlan School of business is just $30 million shy of getting the $100 million it planned to fundraise, and the school will campaign until it gets the money.
It’s been almost exactly a year since John and Cathy Schreiber’s $10 million donation to the Quinlan School of Business gave a name to the upcoming Schreiber Center.
On March 16, Loyola announced that this donation was part of a $100 million fundraising goal for the business school. About $70 million have been raised so far.
The majority of that came from a $40 million donation made in 2012 by Michael Quinlan, a former McDonald’s CEO, for whom the business school is named.
Pamela McCoy, interim dean of the School of Business, said the funds are intended for scholarships, research centers and the improvement of existing business programs.
“One of our major things that we want to ensure is that business education is available to those students who want to earn a business degree. We don’t want them to be hindered financially,” said McCoy, who added that most of the scholarships will be based on merit rather than financial aid.
The Schreiber Center will house Loyola’s family business research center, executive programs, a financial analytics lab and space for meeting with local businesses.
“[The research centers] support our academic enterprise. They are driven by the research they provide. They also provide a way to remain engaged with the business community” McCoy said.
The opening of the center will include several introductory events, including one where former U.S. Secretary of State Colin Powell is scheduled to speak.
The Rev. Justin Daffron, S.J., Loyola’s vice president for Advancement, discussed fundraising efforts for the other schools.
“We have a [school-wide] fundraising goal of $45 million for this fiscal year, which includes some of those [business school] funds,” said Daffron.
Other ongoing fundraising campaigns include Access for Excellence, which raises money for student scholarships, a campaign for the John Felice Rome Center, Celebrate Mundelein for the Gannon Center and a campaign to support University Libraries.
Daffron also mentioned possible future campaigns
“The health sciences division appears to be an area we are going to move in more aggressively,” he said.
Some students expressed dissatisfaction with the wide gap in fundraising between the business school and other schools.
“Seeing as the College of Arts and Sciences is significantly larger than the business school, it doesn’t seem to make a lot of sense,” said Mike Bremmer, 22, a senior psychology major.
Daffron outlined the motivation for the campaign.
“It really is an opportunity for us to continue to build a better business school that provides the opportunity for students at the undergraduate and graduate level to experience an education that will prepare them to be leaders in all areas of business — leaders that have the character and values that make a difference in their communities,” Daffron said. “That’s at the heart of what this is all about.”
“This is a hope and a dream of our faculty that has been there for a number of years,” McCoy said. “To see it actually now coming together, there is such momentum and excitement.”