Mitte Foundation Awards UA Eller College of Business and Public Administration $8.2 Million for Scholarships
December 10, 2001
The Austin-based Roy F. and Joann Cole Mitte Foundation announced today scholarship grants of almost $30 million in educational scholarships to three universities. The University of Arizona's Eller College of Business and Public Administration received an $8.2 million gift.
Mitte funds will provide 60 undergraduate and 15 graduate scholarships per year for 20 years. Each scholarship will be for $5,000.
"This Mitte Foundation gift is the largest scholarship gift in the University's history. We are committed to matching this gift dollar-for-dollar, for a total of $16.4 million in scholarship aid and program support to benefit Eller students over the next two decades.
Private sector investments such as this are critical to the success of public education," said Eller College dean, Mark Zupan.
Eligibility for Mitte scholarships will be based on academic achievement and a commitment to leadership and community service.
"Beyond academic excellence, applicants will be evaluated on their record of community service and their willingness to commit to community projects, " said Zupan. Mitte scholars also will be required to hold a leadership position in at least one Eller College or University of Arizona student organization, he said.
"The Mitte gift is extremely thoughtful and timely because it focuses on outstanding Eller College students who will help shape our nation's economy for years to come and because it addresses two of our $1 billion Campaign Arizona themes-`For a Student-Center Community' and `For Energizing the Economy,'" said UA President Peter Likins.
"We are extremely grateful to the Mitte Foundation for its great generosity and, just as importantly, for its well focused, unerring vision," said Likins.
Scott Mitte, executive director of the Mitte Foundation emphasized the dual goals of the program when announcing the gift. "Our vision is that the nation's brightest scholars will not only advance civilization in business, healthcare and literature, but will also share their outstanding abilities with highly effective community organizations such as Family Eldercare, Habitat for Humanity and Meals on Wheels," he said.
The Eller College will name its Honors Program the Mitte Honors Program and host a case competition and policy forum for all Mitte programs, providing Mitte scholars and business educators with the opportunity to explore and study global and contemporary business issues. In addition, state-of-the-art TeleSuite videoconferencing technology will link the Mitte Foundation to Eller Mitte scholars enabling Eller students to interact with renowned speakers and business leaders from around the world.
The University of Texas at Austin's Red McCombs School of Business and Indiana University's Kelley School of Business also received scholarship gifts, bringing Mitte scholarships to a total of seven schools nationally. Previously established Mitte scholarship programs are in place at Southwest Texas State University, Texas A & M University's Lowry Mays College & Graduate School of Business, Ohio State University's Fisher College of Business, and Penn State University's Smeal School of Business.
The Mitte family of Austin, Texas has been highly successful in insurance and real estate endeavors. Roy Mitte heads Financial Industries Corporation (FIC), a publicly traded company. Mitte Foundation educational contributions have reached nearly $70 million since the establishment of the foundation four years ago.
The Eller College of Management at the University of Arizona is internationally recognized for pioneering research, innovative curriculum, distinguished faculty, excellence in management information systems, entrepreneurship, and social responsibility. U.S. News & World Report ranks the Eller undergraduate program #11 among public business schools and two of its programs are among the top 20 — Entrepreneurship and MIS. U.S. News & World Report ranks the Eller MBA Full-Time program #48 in the U.S. The College is among the leaders of business schools generating grant funds for research. In addition to a Full-Time MBA program, the Eller College offers the 25th ranked Evening MBA program, the Eller Executive MBA and the Online MBA. The Eller College of Management supports more than 5,800 undergraduate and 750 graduate students on the UA campus in beautiful Tucson, Arizona, and a satellite campus in Phoenix.
Liz Warren-Pederson, Eller College of Management
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