$100 Million Gift Sets Records in Alabama | Inside Higher Ed

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A $100 million gift to Samford College marks the biggest single-donor reward the Christian establishment has ever acquired. It is usually the biggest reward a person donor has ever made to the next training establishment in Alabama.

The reward comes from the property of alumnus Marvin Mann, who died in March. In step with Mann’s needs, $95 million will go towards endowing scholar scholarships, and the remaining $5 million will assist the Frances Marlin Mann Heart for Ethics and Management, which Mann established in 2008 in honor of his late spouse.

“Marvin Mann’s generosity to Samford is unmatched within the establishment’s historical past books,” mentioned college president Beck Taylor. “It is a actually transformational reward that may fulfill Marvin’s want for extra college students to have the life-changing alternatives he had as a scholar and to strengthen the college for the longer term.”

Mann, a first-generation faculty graduate from Springdale, Ala., spent 32 years working for IBM earlier than happening to discovered Lexmark Worldwide Inc. in 1991, the place he served as chairman and CEO till 1999.

The reward is predicted to supply roughly $3.75 million yearly in monetary help that may profit greater than 100 college students a yr.

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