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UW
Business School receives $10 million from The Foster Foundation
By Nancy Gardner
Preparations
for new facilities to house the University of Washington Business
School will accelerate from the planning to the design phase with
the receipt of a $10 million donation, the largest private gift
the school has received. The Foster family, whose three generations
attended the UW and created The Foster Foundation, made the gift
in memory of well-known businessman Michael G. Foster. With it,
the foundation has given the Business School more than $13 million
for endowments, fellowships and facilities. The school's library,
which opened in 1997, was named in honor of Albert and Evelyn
Foster.
Since the Business School began its fundraising efforts in 2002,
it has raised $35 million from private donors, as well as a commitment
of $23 million from the university toward the $105 million project.
The school was required to raise at least $40 million before architects
could begin the design process, which is expected to take from
18 to 24 months to complete. Now that the Business School is more
than halfway toward achieving its goal, UW administrators are
optimistic about the facility's future groundbreaking.
When completed, the new building will increase the school's total
space by nearly 50 percent, adding 52,000 square feet that will
contain interactive lecture halls, wireless classrooms, computer
labs, study areas and offices for faculty and staff. The Business
School currently occupies five buildings on the UW campus: Balmer,
Mackenzie and Lewis halls, the Foster Business Library, and the
Bank of America Executive Education Center.
Albert Foster was a 1928 graduate of the UW Business School and
former member of the board of governors of the New York Stock
Exchange in the early 1950s. His wife, Evelyn, was a community
volunteer with the Seattle Symphony, Seattle Opera and Seattle
Art Museum. She received a bachelor's degree from the UW in 1932.
Michael G. Foster was one of four children of Albert and Evelyn
Foster.
Lessons from the Desert
Make sure
your goals are:
- specific
- attainable
- measurable
- well communicated
- agreed upon
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