CONTACT: BILL WINDAUER
Director of Development
Henry B. Tippie College of Business
Director of Development
(319) 335-3305 or (800) 648-6973
Release: Nov. 16,
Illinois couple gives $1 million to College of Business,
IOWA CITY, IowaIowa natives Lloyd J. Palmer and
Thelma Palmer of Burr Ridge, Ill., are contributing more than $1 million to
the University of Iowas Henry B. Tippie College of Business and to Hancher
Auditorium. Lloyd Palmera former classmate of Tippiesaid Tippies
recent gift of $30 million to the Iowa business school helped inspire the
couple to make their own generous contribution to the UI Foundation.
The couples gift provides $1 million for distinguished
faculty fellowships in the College of Business and $50,000 for Hancher Auditorium
Millennium Festival programming.
Lloyd Palmer, originally of Postville, Iowa, graduated
from the University of Iowa in 1949 with an accounting degree and became an
auditor with Ernst & Whinney of Chicago. In 1959 he joined Nalco Chemical
Company as an auditor and rose through the ranks to become its chief financial
and administrative officer. He retired from Nalco in 1986. Thelma Palmer,
also of Postville, attended the UI from 1944 to 1946. The Palmers have actively
supported many areas of the university for more than 30 years.
Lloyd Palmer, a member of the UI Foundation board of directors,
noted that his UI degree was instrumental in achieving his success. Working
with Tippie College of Business administrators and UI Foundation staff, the
Palmers decided that providing faculty support would be an appropriate way
to show their appreciation for, and make a lasting contribution to, the College
"We hope our gift will allow the university and the
college to retain and recruit promising faculty. Competition for high-quality
faculty is very intense out there," Palmer said.
Gary Fethke, dean of the Henry B. Tippie College of Business,
said the Lloyd and Thelma Palmer Faculty Fellowships will provide salary support
and allocations for research-related expenses for promising faculty. He hailed
the Palmers generosity and credited them with helping the college maintain
and enhance its excellent reputation.
"Friends like Lloyd and Thelma Palmer are crucial
to our efforts to make the Henry B. Tippie College of Business one of the
top business schools in the nation. They have made a gift that will have a
lasting impact on the university and the college by ensuring that faculty
in the early stages of their careers will have the best possible opportunities
to do their work," Fethke said.
The portion of the gift earmarked for Hancher Auditoriums
Millennium Festival will support the commission of 20 new pieces of work for
the stage and arts education programs throughout the 1999-2000 performance
season. Lloyd Palmer expressed that the arts are an integral part of a university
education, and that by giving to Hancher, he and his wife are giving to the
university as a whole.
"Support for the arts cuts across college lines.
Its for the benefit of everyone in the university and the community,"
Palmer said of the Hancher gift.
Wallace Chappell, director of Hancher, noted that
this gift comes on the heels of $10,000 in previous Millennium Festival support
from the Palmers. He said the couples gifts will have an enduring influence
on the arts.
"Lloyd and Thelma have helped Hancher enhance
its reputation for providing world-class performing arts to the Midwest. Their
generosity will be felt in innumerable waysits really very important
to our mission," Chappell said.
The University of Iowa Foundation is the preferred
channel of support for private contributions to all areas of the University
of Iowa. Foundation staff work with alumni and friends to provide support
for professorships, scholarships, facilities improvements, equipment purchases,
research funds, and other support for the UI.