Jacob G. Schmidlapp Trust bestows $1-million grant to University
Grant is being divided to provide funding for the new Williams College of Business building and to increase the value of the Jacob G. Schmidlapp Endowed Scholarship Fund
10/17/07The Jacob G. Schmidlapp Trust awarded a $1-million grant to Xavier University. The $1-million grant is being divided to provide funding for the new Williams College of Business building and to increase the value of the Jacob G. Schmidlapp Endowed Scholarship Fund, which was established at Xavier in 1977.
“With this $1-million grant, the Jacob G. Schmidlapp Trust is making a significant and lasting impact on Xavier University and our students," says University President Michael J. Graham, S.J. "The new Williams College of Business building is part of a larger plan to complete The James E. Hoff, S.J., Academic Quad, which will enhance Xavier’s culture of learning by integrating current and robust technology in new and pioneering ways. Additionally, the $500,000 funding for the Jacob G. Schmidlapp Endowed Scholarship will enable us to fund scholarships into perpetuity, which is fundamental to our ability to extend the experience of a Xavier education to more students. The gift of a quality education is one that pays dividends long into the future.”
One-half of the $1-million grant is going toward building costs for the new facility, which will serve both the Williams College of Business and Xavier’s graduate program in health services administration. The facility is being designed to foster partnerships among students, the business community, and faculty and staff. Construction is expected to begin in 2008, with completion expected in 2010.
In addition to classroom, administrative office and faculty office space, the building will include student club and business space, classroom breakout areas, computer laboratories and study areas. Distinctive features of the building will include a trading room for finance students, a data-mining laboratory for information systems students, a studio for taping and reviewing sales presentations for marketing students, and centers for business ethics, entrepreneurship and investment research. The facility will also enable a strategic interaction of the business school and the health services administration program, which will expand the program’s ability to produce skilled, ethical health care leaders. The building will include a new Institute in Healthcare Informatics to advance the development and use of information technologies and digital information resources in the delivery of healthcare.
The other $500,000 will be added to the Jacob G. Schmidlapp Endowed Scholarship Fund, which was established with a grant of $100,000. The fund benefits undergraduate students in pre-medicine or nursing and graduate students in health services administration. The $500,000 designated for scholarships is being issued as a challenge grant designed to motivate increased giving from other funders to scholarships at Xavier. The grant will be awarded after the University raises an additional $500,000 in scholarship dollars, which is expected to be achieved by fall 2008.
Born in Piqua, Ohio, in 1849 to German immigrants, Jacob G. Schmidlapp overcame poverty and personal tragedy to become one of the most respected and successful men of his time. He founded the Union Savings Bank in 1876, which merged with Fifth Third Bank in 1919. In 1903, Schmidlapp established a trust to help improve lives by funding arts, health and human services, education and community development initiatives. A second Schmidlapp Trust was established in 1919.