President Jack Ohle announced on Sept. 23, 2010 that six members of the college’s Board of Trustees have agreed to commit a contribution totaling $5 million to the college’s endowment. The money will go toward the department of economics and management, and it is enough to endow two positions. The donors, who wish to remain anonymous, specified that the money go toward one distinguished professorship and to an already existing faculty member in the department of economics and management.

The Board of Trustees, also known as the governing body for Gustavus Adolphus College, has decided to direct the money toward two positions in the social science department. One endowment will consist of $3 million going toward a process to hire a leading scholar in the field of management, who will be expected to teach classes and remain scholarly active with business leaders and the department itself, as a means to help advance the social science program at Gustavus. It is a fully funded new position that will be fulfilled by a person off-campus who has leadership skills, with the expectation of adding something to the institution.

Another $2 million endowment will be allocated to a current faculty member working in the department of economics and management to promote scholarship and effective teaching.

“The department is extremely thankful,” Associate Professor pf Economics and Management Glenn Barnette said. “We consider it a generous gift. It was a pleasant surprise for a lot of the people. The professors who have worked here have said that this is the biggest gift they can ever remember seeing in this department.”

On Aug. 23, 2010, Barnette was informed in a meeting by David Fienen, provost and dean of the college, about the possible donation. On Sept. 24, 2010 it the contribution was confirmed and promptly announced.

“The chief academic officer and President Ohle are still trying to define both positions of endowment,” Barnette said. “Right now, we’re concentrating on a search as soon as possible for a distinguished faculty member. That person will be an expert in management and provide intellectual direction for Gustavus.”

Gustavus has only had one distinguished chair, Professor of Religion and Drell and Adeline Berhardson Distinguished Professor of Lutheran Studies,  Reverend Dr. Darrell Jodock.  Jodock has made a significant impact on campus, including establishing many grants for the college, such as a grant that helped established the Center for Vocational Reflection. If all goes well, this will be the second distinguished chair in Gustavus’s history.