Business School to Canvass Alumni for $200,000 Yearly

Business School official will attempt to raise $200,000 yearly from its alumni, Donald R. Schoen, Administrative Assistant to the Dean of the Business School, said yesterday.

This annual drive will replace a campaign for $5,000,000 in capital endowment which the Business School had originally planned as part of its "long range" $20,000,000 fund program.

The figure $200,000, represents the income the University generally expects from a $5,000,000 capital investment, Last year, Schoen explained, the Business School received $70,000 from its alumni with no effort and it can probably get the yearly $200,000 with a vigorous fund campaign.

The long range nature of the School's fund drive has all but vanished since the $5,000,000 involved with the alumni drive, the $10,118,642 from the Rockefeller Foundation and other donations, and the $20,000,000 from the Kresge Foundation, will bring the Business School earnings to a sum that would be derived from more than $17,000,000 capital endowment.

How it is Spent

Four major projects will consume the $12,118,642 in funds already on hand; building, general endowment, research, and student aid.

A principle building goal calls for construction of a $2,000,000 Student Activities Center. Actual work on this building and a planned classroom building will start contingent on the world situation.

The activities center will contain a dining room to replace Cowie Hall where the Business scholars new eat, will have common rooms, and quarters for the Business School's extra-curricular organizations, such as the radio station, the Harbus News, the yearbook, the Student Affairs council, and several clubs. It may contain limited athletic facilities, thus sparing Business students a walk across the river. It will not house an auditorium.

Over $3,000,000 is already on hand as endowment for the activities center and new classroom building.