Hinkle Hall used to be the home of the Jesuits until it became so overcrowded that they needed to be housed in a more spatially accommodating venue. Hinkle was also at the heart of campus, causing too much chaos for a Jesuit residence. The solution to the problem came in March 1966, when the Walter E. Schott Family Foundation (a Cincinnati Foundation) gave Xavier a gift of stock and cash in the amount of $750,000 to be used towards the construction of a new building: Schott Hall. While the building responsibly housed the Jesuits for a number of years, the university grew and the Jesuit community dwindled. Consequently, the Jesuits moved from the building to satiate the growing need for office space among lay faculty and staff.