Ball State alumnus John “Papa John” Schnatter and the Charles Koch Foundation gave a $3.25 million grant to the university, according to a new press release.
The new funds will be used to fund the new John H. Schnatter Institute for Entrepreneurship and Free Enterprise, which will be located in the Whitinger Business Building.
“I have always been grateful for the quality education I received at Ball State, and I hope that students and scholars alike will participate in all that the Institute will have to offer,” Schnatter, who graduated in ’83, said in the press release. “We’re proud to support this effort for the next generation to learn and think critically about free market principles and to equip aspiring entrepreneurs with the know-how to launch successful businesses.”
Schnatter said the grant will help the university become known for its entrepreneurship, along with developing research and talented students.
After hearing the news, sophomore accounting student Robyn Allen said she can’t wait to see what the funds will help bring the university.
“This is really exciting,” Allen said. “I think any program for the business college and for Ball State overall is great.”
The Charles Koch Foundation is a nonprofit organization dedicated to improving well-being of the least fortunate through the support of educational and research programs, according to its website.