A gift of securities worth $15 million has been made to Cal Poly by Kinko's founder Paul J. Orfalea and his family.
The donation is earmarked for the College of Business to enhance the quality and scope of business education.
The gift will establish the Orfalea Family Endowment for Excellence, with a focus on the college's strategic initiatives in entrepreneurship, globalization and technology through scholarships, faculty development and program enhancements. The contribution also includes a $5 million challenge gift to leverage additional private support for the college and the establishment of endowed professorships in critical areas.
University officials will request approval from the California State University Board of Trustees on Jan. 24 to name the college the Orfalea College of Business.
The $15 million donation is believed to be the largest individual gift of cash or securities ever recorded in the 23-campus CSU system, and it brings the first named college to Cal Poly.
"Cal Poly deserves recognition for encouraging its students to gain experience through hands-on internships and collaboration with businesses, enabling graduates to be well equipped upon entering the business world. It is our hope that this gift will further endorse the mentoring between teachers and students that provides a lifetime foundation for success," Orfalea said.
"Paul will also share his business acumen with our students through lectures about his personal business philosophy and his 30 years of experience," Bill Pendergast, dean of the College of Business, said. "In 1970, he started Kinko's with one small storefront in Santa Barbara and built it into a 1,100-branch global business services chain. It is fitting that the college be named to honor the spirit of entrepreneurship and strength of character he has exhibited during his career."
"The Orfalea family's generosity will make it possible to transform the ideas and talent of the faculty into broader opportunities for students," Cal Poly President Warren J. Baker said. "This gift will enhance learning by doing and foster the development of programs that focus on globalization, entrepreneurship, technology and the knowledge and skills students will need to be successful leaders in the business world."
A public dedication of the naming of the business college will take place in 2001.
| Public Affairs Offices/Campus News
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