Education

NC State receives $40M gift, largest in history

Posted December 17, 2010 11:22 a.m. EST
Updated December 17, 2010 6:46 p.m. EST

— North Carolina State University received a $40 million gift on Friday, the largest donation in the school's history, according to Chancellor Randy Woodson.

About $37 million of the money, which was donated by Lonnie and Carol Johnson Poole, will fund an endowment to support N.C. State’s College of Management – renamed The Lonnie C. Poole Jr. College of Management.

The endowment will support development of new programs, student scholarships and fellowships, faculty research and other college development activities.

“This endowment will enable us to advance the college to a new era by expanding and complementing our focus on technology, innovation, entrepreneurship and globalization with a new, strong emphasis in the area of sustainability,” said Ira Weiss, dean of the college.

The Pooles’ gift includes $2.5 million to fund The Carol Johnson Poole Club House at the Lonnie Poole Golf Course on N.C. State's Centennial Campus.

About $500,000 of the gift will be used to fund The Carol Johnson Poole Endowment for Humanities and Social Sciences at N.C. State.

“With this transformational gift, it’s a new day for N.C. State,” Woodson said. “Today, we send a signal to the rest of the state and to the country that N.C. State University is prepared to compete on the highest national levels."

Lonnie Poole is the founder of Raleigh-based Waste Industries USA, Inc. and a long-time supporter of N.C. State, where he received his bachelor’s degree in civil engineering in 1959.

He is a member and vice chairman of the Board of Directors for the North Carolina State University Foundation and also provided a naming gift for the university’s golf course.