Calloway School of Business and Accountancy receives $750,000 gift from Kresge Foundation

The Kresge Foundation made the grant on a challenge basis, to help the university in raising the balance required to complete the project. The grant will be paid after the university raises the remaining $3.6 million. The university must raise the money by March 2003. The total cost of the Calloway Hall renovations and expansion is $14 million.

The Calloway School, the largest undergraduate program at Wake Forest, is ranked 30th among all business programs by U.S. News & World Report and its finance and accounting programs are ranked among the top 25.

The school’s 57,000-square-foot Kirby Wing will include classroom and office space, room for group meetings, a state-of-the-art technology center and a center for undergraduate entrepreneurship, designed to foster business skills in students from all areas of study. Groundbreaking for the new wing was Oct. 4; construction will begin in February.

The Kresge Foundation is an independent, private foundation created by the personal gifts of Sebastian S. Kresge. In 2000, the foundation reviewed 667 proposals and awarded grants totaling nearly $134 million. The foundation awards grants to institutions of higher learning, health and long-term care, arts and humanities, human services, science and the environment, and public affairs.

Gifts to support the Kirby Wing are applied toward the university’s $450 million capital campaign, “The Campaign for Wake Forest University: Honoring the Promise.” The campaign kicked off last spring.