Apr 21, 2017 12:01 PM EDT By Anne Collins, UniversityHerald Reporter

On Wednesday, the University of Akron announced that they have received a gift of $5 million from Jim and Vanita Oelschlager to help create a museum to display Native American artifacts. The contribution will go the Oak Native American Museum, which will be a part of the Institute for Human Science and Culture at the university's Drs . Nicholas & Dorothy Cummings Center for the History of Psychology.

The gift will be used for renovation of the building's third and fourth floors to include galleries, classrooms and a reading room. Jim Oelschlager, the founder of the Akron-based investment firm, Oak Associates, said that University of Akron was the appropriate organization to house, display and study their Native American collection.

He added the collection will provide students an opportunity to learn how to manage, research and display the historical items from different parts of the continitent. It would greatly help and prepare them to be able to work on other collections.

Crains Cleveland Business reported, Oelschlagers' collection has 800 rare Native American artifacts. The museum said in a statement that they will give the community access to the collection. It will also allow more research opportunities.

Cleveland reported, Oelschlagers will also support a full-time curator for the collection in cooperation with the Lynn Rodeman Metzger Endowed Curatorship in Anthropology. The curator will be tasked to manage the collection through their display, cataloging and preservation of these Native American artifacts.

No opening date has been set yet and early planning for the museum is definitely underway. Construction is set to take place about 18 to 20 months.

The Oelschlagers have supported the university for 25 years especially the Oelschlager Summer Leadership Institute for high school students to participate in a seven-day workshop on UA's campus. The Oelschlagers also support various scholarships and has helped hundreds achieve their college dreams.

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