As we were going to press on the previous issue of Prospectus, we were also making plans to announce the largest gift to the College of Business. On September 11, 2017, Debbie and Jerry Ivy of Los Altos Hills, California, made a $50 million commitment to the college.
It was historic.
Jerry Ivy earned his bachelor’s degree in industrial administration from Iowa State in 1953 and has been a longtime supporter of the college. This gift is the largest commitment to the college. There are only 14 other business schools in the country to have received a gift of more than $50 million, so we are in excellent company!
In recognition of the couple’s generosity, the college was renamed the Debbie and Jerry Ivy College of Business. As you can imagine, we all had a little fun saying we were now in the Ivy League!
In this issue, we honor Debbie and Jerry Ivy for their business accomplishments, and their incredible generosity. You can read more about them on pages 4–9.
The Ivy gift came on the heels of another important, sizable donation.
On the second day of classes, we proudly announced a $7 million commitment from the Gerdin Charitable Foundation, which provides funding to expand our facility. This has become a high priority for the college due to years of growth and record enrollment. The Gerdin family are longtime leaders, friends, and donors to the college. In 1998, Ann and her late husband, Russell Gerdin, provided the foundational gift for the college’s current facility, the Gerdin Business Building. Now, with their help, we are able to build an addition to accommodate our needs today and in the years to come.
Needless to say, this school year has started out like no other.
As you can see, this is an exciting time for all of us here at the college. Our alumni and friends have always been dedicated partners in achieving success. We appreciate your ongoing support.
David P. Spalding,
Raisbeck Endowed Dean
Debbie and Jerry Ivy College of Business
Spalding reappointed as business dean
David Spalding, Raisbeck Endowed Dean of the Debbie and Jerry Ivy College of Business, was reappointed in December 2017 to a new five-year term. Since he was hired in August 2013, Spalding has managed record enrollment growth while increasing student and faculty diversity, growing philanthropic support and raising the external visibility of the college across the state and country.
“Iowa State’s business college has become a transformative model for engaging students with experiential learning opportunities and preparing students for successful careers,” Iowa State University President Wendy Wintersteen said. “David has done an outstanding job leading the college over the last four years, and I look forward to its continued growth.”
Senior Vice President and Provost Jonathan Wickert expressed his thanks for a comprehensive review process to the college’s Committee to Review the Dean, chaired by Sree Nilakanta, associate professor of supply chain and information systems. Wickert also noted his appreciation to business students, faculty, and staff who participated in the review process and provided insightful and helpful feedback.
“Leading the Ivy College of Business is the highlight of my career,” Spalding said. “I am excited to continue working with faculty, students, staff, and our partners to move the college to even greater heights and to best serve the people of Iowa.”
Spalding earned a bachelor’s degree in history from Dartmouth College, Hanover, New Hampshire, and an MBA in finance from New York University. He joined the Iowa State faculty in 2013 after serving eight years in a variety of roles including senior vice president and senior adviser to the president, as well as vice president for alumni relations, at Dartmouth. He also held positions with Chase Manhattan, First National Bank of Chicago, GE Capital Corporate Finance Group, Lehman Brothers, and the Cypress Group, a private equity firm he co-founded.
Under Spalding’s leadership:
• Total enrollment grew 39.6 percent from fall 2012 to fall 2017.
• Graduate enrollment grew 69 percent from fall 2012 to fall 2017.
• Undergraduate enrollment grew 38 percent from fall 2012 to fall 2017 with the average ACT score for incoming students remaining relatively flat.
• Hired 39 tenured/tenure-eligible faculty bringing the total to 91 tenured/tenure- eligible faculty.
• Increased total sources – general fund by 51 percent from FY13 to $43,379,216 in FY17.
• Ran a surplus each year to provide funding for a needed addition. Positioned the college to be able to borrow internally for the addition and not use state funds. The Gerdin Family Foundation has committed $7 million to name the building.
• Raised $98 million from donors, including a $50 million commitment from Debbie and Jerry Ivy, resulting in the first named college at Iowa State.
• 97 percent of undergraduates were working, continuing their education, or serving in the military within six months of graduation (2016, up from 92 percent in 2013).
• The number of undergraduate students reporting an internship grew 52 percent from 2013 to 2016.
• U.S. News and World Report ranked the undergraduate program 78th in fall 2017, up from 101st in fall of 2013.
• U.S. News and World Report ranked the full-time MBA program 65th in spring 2017, up from 69th in spring 2013.
• Increased funding for faculty research by 61 percent from FY13 to FY17.
• Increased the number of students having an international experience by 72 percent from AY13 to AY17.