Murray Foundations, a Tampa, Fla.-based firm that supports charitable causes, recently donated $700,000 to the Commerce School to recruit and retain a professor to serve as a senior scholar in finance or management information systems.
Murray Foundations is funded by Jack K. Murray Jr. and his two sons, Jack K. Murray III and Michael S. Murray, both of whom graduated from the Commerce School.
The gift is an initial step toward a $1 million commitment to establish the Murray Research Professorship.
Murray will give the remainder of the $1 million "sometime this year," Assoc. Dean for External Affairs Diana Walker said.
Also, Murray Foundations has "reserved [the] right to grow [the endowment] to $3 million if they choose to do so" in the future, Walker said.
Recruiting and retaining a senior scholar in finance or management information systems is important because a senior scholar "helps build the reputation of the school" by attracting other reputable faculty members, Walker said.
The senior scholar also will serve as a mentor to younger faculty members.
Students will benefit from the continual enhancement of faculty and from studying with "more well-known scholars," who will help enrich an already exceptional faculty, she said.
"The gift will contribute substantially to the effective creation and dissemination of new knowledge that strengthens the curriculum and the entire student experience," Commerce School Dean Carl P. Zeithaml said.
The Commerce School continually recruits faculty members for a variety of positions every year and will conduct a search for a senior scholar in the same manner. The recruiting process, which Walker describes as "an ongoing process" has begun, but there are no specific recruits in mind now.
Walker said she could not provide a date when the new scholar would be selected.
Murray, along with his two sons has given more than $1 million to the University since 1981.
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