College of Business Receives $10-Million Gift
College of Business Receives $10-Million Gift
March 9, 2005
Rowan University President Dr. Donald Farish today announced The William G. Rohrer Charitable Foundation presented a $10-million gift to Rowan University's College of Business. Linda Rohrer, daughter of the late William G. Rohrer, made the presentation on behalf of the Rohrer Charitable Foundation at a ceremony attended by faculty, staff, students and friends of the University in Bunce Hall, home of the College of Business.
During the ceremony, Farish announced he would recommend the Rowan Board of Trustees name the college the William G. Rohrer College of Business.
The Rohrer gift will give the College of Business the resources to form a unique partnership with the business community and enhance the academic strength of the entrepreneurial curriculum in all disciplines in the College of Business. Business students will learn by doing through applied courses and real-world projects with regional businesses and economic development organizations. Business faculty and students will work directly with these organizations to spur economic development and help them solve business problems, from writing marketing plans to setting up accounting systems.
"The Rohrer gift will put Rowan University at the forefront of business education," said Farish. "We plan to fundamentally change how we prepare students as well as redefine how universities interact with businesses in their region. This is an opportunity to make wholesale changes that few universities can afford to do."
Such plans reflect Mr. Rohrer's approach to business and support of South Jersey.
"My father had a passion for education and helping fellow businesspeople succeed," said Linda Rohrer, a trustee of the Rohrer Charitable Foundation. "Rowan University's plans for its College of Business align perfectly with his beliefs and ideals. I'm proud to be able to invest in such a creative and ambitious endeavor."
According to Dr. Philip Tumminia, executive director of the Rowan University Foundation, the Rohrer Charitable Foundation will establish what he has coined a "reverse endowment," giving the Rowan Foundation $500,000 a year for 20 years. This allows the Rohrer Charitable Foundation to maintain its principal while making a generous contribution. More typically, naming opportunities result from the one-time transfer of millions of dollars from the donor to the recipient foundation, Tumminia said.
"I am very pleased that the Rohrer Charitable Foundation agreed to form a partnership with Rowan University to embark on this unique approach to providing funding for the College of Business," Tumminia said. "This gift honors Bill Rohrer, the Rowan University Foundation, our students and faculty, and Don Farish's vision for the University."
The Rohrer gift is the largest the University has received since Henry Rowan donated $100 million to the school in 1992, and it is the third gift from the Rohrer Charitable Foundation. In 1999, the Rohrer Charitable Foundation awarded Rowan $1 million to fund scholarships in the College of Business. In 1994, the foundation made a $1-million gift to the University to establish the William G. Rohrer Professorial Chair in the College of Business, the University's first endowed chair and the first gift of $1 million or more for a chair among New Jersey's nine state colleges. The University has used the interest from that gift to bring visiting professors and business leaders to teach and lecture on campus. (In 2000, the Campbell family of Salem also donated $1 million to establish the John B. Campbell Professorial Chair in the College of Business, named for the late president and chairman of the board of directors of Mannington Mills.)
According to Farish, the latest Rohrer gift will enable Rowan to, among other things:
-Hire more faculty to work with small teams of students on real-world projects for business clients.
-Promote interdisciplinary teamwork, including participation in entrepreneurial projects by students in all of Rowan's six academic colleges.
-Add staff and graduate students who will organize and monitor the progress of applied business projects and establish links to business organizations.
-Improve meeting and conference facilities to enhance interaction between the College of Business and the business community.
-Provide opportunities for student teams to work directly with business organizations, including emerging companies based at the South Jersey Technology Park, and support the economic development efforts in South Jersey.
-Increase development funds to assist faculty and students in exploring this new method of business education and promote this applied approach.
For more information about the gift and Rowan's College of Business, visit http://www.rowan.edu/colleges/business.
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About The William G. Rohrer Charitable Foundation and William G. Rohrer
The William G. Rohrer Charitable Foundation was funded by the estate of William G. Rohrer, a former banker, businessman, public official and humanitarian from Camden County whose life was dedicated to improving the educational and economic prosperity of southern New Jersey.
The Rohrer Charitable Foundation's focus is on funding local causes in keeping with Mr. Rohrer's long-time dedication to local organizations. During his lifetime, Mr. Rohrer played a major role in a variety of charitable and fund-raising and community improvement activities and contributed to numerous educational and charitable causes.
Born in 1909, Mr. Rohrer grew up in Williamsport and Pottsville, Pa. He moved to Camden County, N.J., to establish with his father the Rohrer Chevrolet Agency. He operated the dealership for 50 years, building it into one of the largest automobile dealerships in southern New Jersey.
A resident of Haddon Township since 1929, Mr. Rohrer served as a committeeman for four years and as mayor for 36 years. He launched the First People's Bank of New Jersey in 1956 and served as its president and chief executive officer until 1982 and later as chairman emeritus of the board of directors. He also established and was president of Wm. G. Rohrer Inc., a real estate holding company, and served as president or partner in several other real estate development companies. Mr. Rohrer was past president of the First National Bank of Stone Harbor and the Fidelity Bank of Pennsauken.
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During the ceremony, Farish announced he would recommend the Rowan Board of Trustees name the college the William G. Rohrer College of Business.
The Rohrer gift will give the College of Business the resources to form a unique partnership with the business community and enhance the academic strength of the entrepreneurial curriculum in all disciplines in the College of Business. Business students will learn by doing through applied courses and real-world projects with regional businesses and economic development organizations. Business faculty and students will work directly with these organizations to spur economic development and help them solve business problems, from writing marketing plans to setting up accounting systems.
"The Rohrer gift will put Rowan University at the forefront of business education," said Farish. "We plan to fundamentally change how we prepare students as well as redefine how universities interact with businesses in their region. This is an opportunity to make wholesale changes that few universities can afford to do."
Such plans reflect Mr. Rohrer's approach to business and support of South Jersey.
"My father had a passion for education and helping fellow businesspeople succeed," said Linda Rohrer, a trustee of the Rohrer Charitable Foundation. "Rowan University's plans for its College of Business align perfectly with his beliefs and ideals. I'm proud to be able to invest in such a creative and ambitious endeavor."
According to Dr. Philip Tumminia, executive director of the Rowan University Foundation, the Rohrer Charitable Foundation will establish what he has coined a "reverse endowment," giving the Rowan Foundation $500,000 a year for 20 years. This allows the Rohrer Charitable Foundation to maintain its principal while making a generous contribution. More typically, naming opportunities result from the one-time transfer of millions of dollars from the donor to the recipient foundation, Tumminia said.
"I am very pleased that the Rohrer Charitable Foundation agreed to form a partnership with Rowan University to embark on this unique approach to providing funding for the College of Business," Tumminia said. "This gift honors Bill Rohrer, the Rowan University Foundation, our students and faculty, and Don Farish's vision for the University."
The Rohrer gift is the largest the University has received since Henry Rowan donated $100 million to the school in 1992, and it is the third gift from the Rohrer Charitable Foundation. In 1999, the Rohrer Charitable Foundation awarded Rowan $1 million to fund scholarships in the College of Business. In 1994, the foundation made a $1-million gift to the University to establish the William G. Rohrer Professorial Chair in the College of Business, the University's first endowed chair and the first gift of $1 million or more for a chair among New Jersey's nine state colleges. The University has used the interest from that gift to bring visiting professors and business leaders to teach and lecture on campus. (In 2000, the Campbell family of Salem also donated $1 million to establish the John B. Campbell Professorial Chair in the College of Business, named for the late president and chairman of the board of directors of Mannington Mills.)
According to Farish, the latest Rohrer gift will enable Rowan to, among other things:
-Hire more faculty to work with small teams of students on real-world projects for business clients.
-Promote interdisciplinary teamwork, including participation in entrepreneurial projects by students in all of Rowan's six academic colleges.
-Add staff and graduate students who will organize and monitor the progress of applied business projects and establish links to business organizations.
-Improve meeting and conference facilities to enhance interaction between the College of Business and the business community.
-Provide opportunities for student teams to work directly with business organizations, including emerging companies based at the South Jersey Technology Park, and support the economic development efforts in South Jersey.
-Increase development funds to assist faculty and students in exploring this new method of business education and promote this applied approach.
For more information about the gift and Rowan's College of Business, visit http://www.rowan.edu/colleges/business.
###
About The William G. Rohrer Charitable Foundation and William G. Rohrer
The William G. Rohrer Charitable Foundation was funded by the estate of William G. Rohrer, a former banker, businessman, public official and humanitarian from Camden County whose life was dedicated to improving the educational and economic prosperity of southern New Jersey.
The Rohrer Charitable Foundation's focus is on funding local causes in keeping with Mr. Rohrer's long-time dedication to local organizations. During his lifetime, Mr. Rohrer played a major role in a variety of charitable and fund-raising and community improvement activities and contributed to numerous educational and charitable causes.
Born in 1909, Mr. Rohrer grew up in Williamsport and Pottsville, Pa. He moved to Camden County, N.J., to establish with his father the Rohrer Chevrolet Agency. He operated the dealership for 50 years, building it into one of the largest automobile dealerships in southern New Jersey.
A resident of Haddon Township since 1929, Mr. Rohrer served as a committeeman for four years and as mayor for 36 years. He launched the First People's Bank of New Jersey in 1956 and served as its president and chief executive officer until 1982 and later as chairman emeritus of the board of directors. He also established and was president of Wm. G. Rohrer Inc., a real estate holding company, and served as president or partner in several other real estate development companies. Mr. Rohrer was past president of the First National Bank of Stone Harbor and the Fidelity Bank of Pennsauken.
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