Tim Sullivan, the dean of
Carroll University’s business school, and his wife Vivian have given the school $10 million.
Carroll officials announced the donation on Thursday morning, along with news that the business school will now be named the Sullivan School of Business.
The Sullivan’s gift will go toward the university’s
$100 million fundraising campaign, the largest ever undertaken in the 178-year history of the institution. So far the university has raised about $60 million toward its final goal.
“Carroll continues to stretch itself and grow to meet the needs of the broader community,” Tim Sullivan said. “We decided it was important to stretch ourselves with the hope it will inspire others to do the same and to move this project and the university forward into the future."
Sullivan, a member of the university's 1975 graduating class, was
named dean of the business school last month.
The infusion of cash is expected to enhance the Carroll University business school’s offerings, the university said, while also advancing fundraising for a new 60,000-square-foot building for the business school.
"We are humbled and deeply honored by Tim and Vivian's unparalleled support,” said
Cindy Gnadinger, the president of Carroll University, in the Thursday announcement. “This gift will propel our institution to new heights, enabling us to provide a state-of-the-art academic facility where we will provide a business degree that is distinctive from our peers and rooted in the liberal arts. There simply are no words to adequately describe the transformational nature of this gift."
Tim Sullivan is a former chief executive officer of mining equipment manufacturer Bucyrus International, equipment manufacturer Gardner Denver and Brookfield-based specialty vehicle manufacturer REV Group Inc.
Sullivan also served as co-chair for Carroll University’s last fundraising campaign, helping raise nearly $53 million, from July 2009 to September 2016.
