Historic gift given to college of business

The university will receive nearly $30 million from the estate of Dr. Predeceased by Bill and Janie Dukes. This grant will continue to establish Dr. The William P. and Janie B. Dukes Excellence in Finance Endowment supports student scholarships and faculty positions.

This donation, the largest in the history of the university, was announced in an email by Dr. Phil Schubert, president of the university sent, Monday. The Dukes, although not affiliated with ACU, have Dr. Jack Griggs and Bill Petty, who graduated from the university and served on the board of trustees.

“I’ve known the Duke relationship for the better part of a decade, and what I didn’t know was the amount of money they hold on their land and the fact that the size of the gift that will eventually come to ACU,” Schubert said. “I know that they have a desire to benefit ACU, but it was really only a few months ago that that became evident, just an amazing benefit and a wonderful story. It is to see the way they believe in ACU and want to help move We are moving forward in a way that allows us to have a greater impact on students.”

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In support of the grant, the College of Business and Administration will launch the Dukes School of Finance in 2023, the first college named after the university. The endowment itself is an endowment and will advance three primary goals within the College of Business and Administration.

“This is a grant, so it will provide money every year so that we can invest in the improvement of our financial program in three areas that I hope will be the most important thing that the investment will be world-class faculty, outstanding students, and organizational experiences for students outside of the classroom,” Schubert said.

Dr. William ‘Bill’ Dukes taught as a professor in the finance department of Texas Tech University for 40 years, during which time he befriended both Petty and Griggs. Dukes was also a distinguished business leader and veteran, receiving medals for his service in the Marine Corps during World War II.

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Griggs said the Dukes invested in himself and Bill Petty and maintained a “good friendship” between the group for 50 years.

“The big event would be Bill Petty and I would hunt General Dukes every year, deer hunting. That became a regular thing,” Griggs said. “During that time, we just do what friends do: spend happy days together and encourage each other.”

Griggs believes that friendship is part of what led the Dukes to leave ACU with such a generous gift.

“Bill and Janie just wanted to show their interest in us and do something good,” Griggs said.

In addition to the $29 million given to ACU, Baylor University was given grants and funds for orphanages, seniors and church funds.

For Griggs and Schubert, this award means a lot in terms of supporting ACU’s mission.

“In the text of the donation agreement, the Dukes family stated that their intention with the donation is “to give glory to God by helping to fill the world with Christian men and women of power and ability who understand and live the life of Luke 10:27 – ‘To love our Lord. “Be your God with all your heart and soul and all your strength and all your mind, and love your neighbor as yourself,” Schubert said in an email to students, faculty and staff.We are very grateful for the Dukes life of faithful Christian ministry and their great generosity to ACU. ”

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This donation puts ACU at a total of $214 million of the $250 million goal for the Higher Ground Campaign. The award also places ACU in the running for one of the top five colleges of business awards in the state of Texas and one of the top five business schools for any faith-based institution in the country.

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