Indiana Wesleyan University has received the largest donation in its 92-year history, a $5 million gift from the family of late Indianapolis businessman, James F. DeVoe, that will be used to create a separate department of business in the university's Marion campus.
Currently, the school offers undergraduate and graduate degrees in business through its College of Arts and Sciences and Graduate School.
"We are always excited when a family's philanthropic desire matches our school's mission and we are so grateful that the DeVoes thought of us when they made their decision to honor Jim in such a special way," IWU's executive vice president, Keith Newman, said.
Along with DeVoe's donation, the university will be including another $5million gift for the initial establishment of the school, which will be named DeVoe School of Business .
The business school, which is likely to be completed by the end of 2015, would encompass the existing business programs and will teach business concepts and also stress on Christian principles.
James DeVoe, a former Grant County resident, owned DeVoe Chevrolet and later founded J.D. Byrider - a nationwide franchise of dealerships. In 2006, DeVoe was killed in a private plane crash in Melbourne, Florida.
Since his death, his wife, Andrea, always wanted to do something special in his remembrance and thus made the donation in his honor.
Her decision to donate the gift to IWU is because of the relationship they shared with the students. Earlier, the couple assisted the youth group at Lakeview Wesleyan Church.
