CSU receives largest donation in school history
Colorado State University received the largest donation in school history Tuesday when Walter Scott Jr. gave the school $53.3 million.
Scott is a resident of Omaha, Nebraska. He is a CSU civil engineering alumnus who once led the international contractor Kiewit and now serves on the Berkshire Hathaway board. The College of Engineering will be renamed the Walter Scott, Jr. College of Engineering in his honor.
He spent his career in the construction and telecommunications industries and, according to Forbes magazine, has an estimated net worth of $3.8 billion.
“We are humbled and incredibly grateful for this remarkable gift from Walter Scott,” said CSU President Tony Frank in a university press release. “Walter has been a passionate and generous supporter of CSU since he graduated more than 60 years ago, and this gift is truly transformational. It will allow the Walter Scott, Jr. College of Engineering to attract and support the finest faculty and students for years to come. This truly is a great, great day in our University’s history.”
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The money will support student scholarships, "faculty excellence" and research, according to the press release.
It will fund an expansion of the previously established Walter Scott, Jr. Scholarship Program, providing renewable merit scholarships for up to 80 undergraduates and fellowships for up to 30 graduate students.
The gift will also go to attracting high-quality faculty through the creation of four presidential chair positions in water, health, energy and environment — the college's four "areas of excellence." The funds will lead to new labs and infrastructure and investment in leadership programs that support innovation and excellence.
Scott graduated from CSU in 1953, when it was known as Colorado A&M. He had a long career with Kiewit and remains on the company's board.
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Scott and his late wife, Suzanne, donated $10 million in 2012 to create the Suzanne and Walter Scott, Jr. Bioengineering Building, which was completed in 2015. It's home to more than 30 faculty and 120 graduate students conducting research on global challenges related to water, energy, health and the environment.
"As we get older, I think it’s natural to think about the generations that will follow,” Scott said in the CSU press release. “And in a technological age, it’s important that our top students have the opportunity to study at strong research universities.”
The university will honor Scott and celebrate his donation at a campus event in April.