$10 million gift to KU is record-breaker

Saturday, October 20, 2001 

Charley Oswald originally pledged $1 million to Kansas University.
 

Scott McClurg/Journal-World Photo CHARLEY OSWALD, left, accepts praise from Tony Immel for a $10 million donation to KU. Oswald's gift is the largest one-time individual offering given to KU. The gift was announced Friday at the annual business meeting of the Kansas University Endowment Association, of which both Oswald and Immel are trustees. Of the $10 million gift, $6 million was given to the economics department, $3 million went to the chancellor's discretionary fund, with the remainder to the School of Business.

But university officials — including Chancellor Robert Hemenway and Sally Frost Mason, former dean of the College of Liberal Arts and Sciences — convinced him to give more. 

"I said I might as well round it off to an even $10 million," Oswald said. 

That donation, announced Friday by the Kansas University Endowment Association, is the largest single gift given by an individual in KU's history. 

The money is split three ways — $6 million for the economics department, $3 million in unrestricted funds and $1 million for the School of Business. It's part of KUEA's "KU First: Invest in Excellence" campaign, which aims to raise $500 million during the next three years. 

"I'm very, very proud of the great, great university we have here, of the organization we have here, the chancellor we have here, and the faculty we have and the spirit we have across the state," Oswald said. "It's an honor to be a Kansan." 

A native of Hutchinson, Oswald graduated from KU in economics in 1951. His career included 24 years as chairman and CEO of National Computer Systems, Inc., now NCS Pearson. The company processes student-assessment tests and provides data-tracking software for school systems. 

He retired in 1994 but remained on the board of directors until 1998. He now lives in Edina, Minn., and is chairman of Rotherwood Corp., a venture-capital firm that invests in startup companies. 

"He's a man that I treasure being around because every time you're around Charley Oswald, you learn something," Hemenway said. 

The bulk of Oswald's gift — $6 million — goes to the department of economics. It's the largest gift ever given to KU's College of Liberal Arts and Sciences. In exchange, the undergraduate program will be renamed the Charles W. Oswald Program in Economics. 

Of the $6 million, $2 million will be used to establish the Oswald Opportunities in Economics Fund, which will provide teaching fellowships and undergraduate scholarships. 

The other $4 million will establish two professorships, one in microeconomics and one in macroeconomics. William Barnett of Washington University in St. Louis already has been selected for the first macroeconomics professorship. 

The state will match the interest on the professorship funds under the Kansas Partnership for Faculty of Distinction program. 

"Charley's gift is inspirational," said Joseph Sicilian, chairman of the economics department. "For our faculty members, it is such a morale boost to have their program recognized by a gift of this caliber. For our students, this gift will mean more scholarships, fellowships and instruction from some of the foremost economic scholars in the world." 

The $1 million for the School of Business will provide six to 10 grants annually for 10 years to faculty for teaching and research activities. 

The remainder — $3 million — was in unrestricted funds. KUEA President James Martin said it was one of the largest gifts given to KU with no strings attached. Less than 5 percent of donations are unrestricted. 

This isn't the first time Oswald has donated money to KU. He gave $1 million to KU in 1990 to establish the economics department's first endowed professorship. 

Forrest Hoglund of Dallas, chairman of the KU First campaign, said landing gifts such as Oswald's will be a major factor in helping the campaign reach its goal. So far, $293 million has been raised. 

"To be able to reach $500 million, we have to get some of the large gifts," he said. "We have some dependable donors from the University of Kansas. There are a lot of people who want to support it."

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