Fort Lewis College received its largest donation in the school’s history last week.
Durango entrepreneurs and philanthropists Marc and Jane Katz donated $10.4 million to the college’s School of Business Administration.
This comes on the heels of the college experiencing a record year for philanthropy in 2022-23, receiving around $17.1 million in private donations.
FLC aims to provide strong student support and outstanding leadership in business education via funding a variety of programs, such as an endowed professorship, a faculty and student development fund, and a student-run marketing agency.
Because of the contribution, the college has elected to rename the school of business as the Katz School of Business.
“I am deeply appreciative of the Katz family for their generous support of the School of Business,” said Katz School of Business Dean Steve Elias in a news release. “We have some of the most committed students, faculty, and staff, and this investment in them reinforces, and expands, the impact they have on the FLC community and beyond. I am exceptionally proud and honored to be part of Fort Lewis College and the Katz School of Business.”
The gift will help the college as a whole, said Melissa Mount, vice president of FLC Advancement.
In an interview on Monday, President Tom Stritikus expressed his excitement about how the endowment could progress the school’s business program.
“We are humbled by the generosity of the Katz family, this gift will have lasting community impact, and allow our faculty and students to accelerate the work of the Katz School of Business in a way that serves economic development and entrepreneurship in our entire community,” Stritikus said.
He said one of the major benefits of the gift is that it creates an endowment and it generates funds that will be used in perpetuity, funding activities related to the school of business.
The student-run marketing agency is one of the practicums benefiting from the endowment, which Stritikus is most excited about.
The practicum will allow students to work in experiential settings with Durango businesses running their marketing campaigns.
The program is taking applications from businesses interested in working with the students.
Stritikus said FLC has been experiencing increased student interest in entrepreneurial careers.
In addition, the funding will also help supply the college with scholarships, dollar-for-dollar matching support, three endowed professors and a community engagement fund.
The community engagement fund will help support entrepreneurial, innovative and small business development programming in Durango and throughout The Four Corners. The college expects to optimize partnerships with community groups dedicated to economic development.
“We are very happy to support the business school at Fort Lewis College through the newly created Katz School of Business. The school will foster and encourage hands-on entrepreneurial experiences, while promoting connections made between the Katz School and the broader community. Our overarching goal is to strengthen programs that provide real-world and pragmatic business education to create business leaders for our future,” Marc and Jane Katz said in a news release last week.
tbrown@durangoherald.com
