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CONTACT: MICHAEL NEW
President, University of Iowa Foundation
Iowa City IA 52242
(319) 335-3305
e-mail: michael-new@uiowa.edu

Release: Immediate

(Background information for Henry Tippie naming gift story)

University, business school have history of generous benefactors

IOWA CITY, Iowa -- Henry Tippie's $30 million commitment to the Iowa business school is the largest contribution from an individual ever received by the University, which has benefited from many generous gifts in recent years. Tippie is a 1949 graduate of the UI College of Commerce.

On Feb. 8 the UI announced an intellectual property gift from DuPont valued at $35 million. Previously, the largest single gifts received by the UI include $14 million from the F. Wendell Miller estate in 1995; gifts of art totaling $7.8 million from the estate of Muscatine industrialist C. Maxwell Stanley; $5.2 million from the estate of former Iowa City Press Citizen editor Edwin B. Green in 1988; and a gift of $4 million by Des Moines venture capitalist and UI business graduate John Pappajohn to the College of Business building campaign 1992. Prior to the Tippie and DuPont commitments, the most generous contributor to the university has been the Roy J. Carver Charitable Trust of Muscatine. The Trust's cumulative support of the university now totals approximately $26 million.

Generous support to the College of Business in recent years is most visibly demonstrated by the John Pappajohn Business Administration Building. Pappajohn is a 1952 business school graduate whose giving to the college now totals $5.7 million. Pappajohn also is known for his support of the UI's John Pappajohn Entrepreneurial Center. He and his wife, Mary, have given a total of nearly $10 million to programs throughout the UI, including funding for the John and Mary Pappajohn Clinical Cancer Center at the University of Iowa Hospitals and Clinics.

According to the University of Iowa Foundation, other major givers whose support for the college nears or exceeds the $1 million mark include H. John Hawkinson, a 1936 business school graduate from Wilmette, Ill., for whom the Hawkinson Institute of Business Finance is named; Marvin Pomerantz of Des Moines, a 1952 business school graduate who has endowed the Marvin and Rose Lee Pomerantz Chair in Business Administration and for whom the Pomerantz Business Library is named; Charles Grannon, a 1941 business school graduate from Boca Raton, Fla., who endowed the Grannon Fellowships in Business Administration and provided substantial support for the college's building campaign; and Stanley M. Howe, chairman emeritus of HON Industries in Muscatine, who made a major gift in 1998 to support the college's Evening M.B.A. programs, is endowing a named chair in business leadership, and for whom one of the Gallerias in the Pappajohn business building is named.

2/18/99