Bank of America has donated $250,000 for Wichita State’s new business building, the university and Bank of America announced Monday.
The $250,000 grant will not be part of the additional $20 million the university says they need to fund the new building, Business Dean Anand Desai said Monday at the announcement at Bank of America’s Hillside location. Private donors have already raised $30 million towards the project.
The grant will be used for technology and other improvements within the building, Desai said.
“There’s so many things that need to go into a new building, including technology, which is always going up in price,” Desai said. “Having these funds available for enhancing technology and the learning experience for our students — that’s what the building’s about.”
A university talking point before a campus-wide referendum vote on a student fee increase to fund the additional $20 million needed to reach the $50 million goal was that WSU’s “donor base is exhausted.”
Acting President Rick Muma said Monday that the Bank of America donation was already in the works before the referendum vote.
“We’re going to continue to look for ways to raise funds,” Muma said. “I do think we have exhausted the donors we’re going to get.”
Dean Desai said that a plan for how to generate the additional $20 million is still in the works. There will not be a second referendum for business students, Desai said.
The plan may include reallocations of university funds, but “I don’t want to speculate,” Desai said.
“There’s nothing fixed.”
A new plan for the additional $20 million will be unveiled by the end of the spring semester, Desai said.
“The question is, how do we strategically reallocate funds without hurting Wichita State and what the business school is?” Desai said.