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Feb 27, 2014 08:58 AM EST

Kansas Alumni Donate $1.25 million for New Business School Building

University of Kansas alumni Kent and Missy McCarthy have made a gift of $1.25 million for the construction of a new School of Business building at the University of Kansas.

"Kent and Missy McCarthy have shaped the learning experiences of many business Jayhawks," School of Business Dean Neeli Bendapudi said in a statement.

This latest gift is not their first contribution to their alma mater. Kent helped establish courses, invited luminaries to speak at the campus and assisted several finance students in beginning their careers.

"For 17 years, Missy and I have been hoping for a new business school, "McCarthy said. Then along comes Neeli, and with the help of incredibly generous donors like the Dicus and Illig families and many others, the dream is now a reality."

In 1988, Kent started the Applied Portfolio Management (APM) class at KU that allows students to gain hands-on experience with investment decisions. In 1993, he invested more than $250,000 into the APM course. McCarthys also helped fund one KU basketball scholarship and one minority business school scholarship.

The couple has been credited with bringing prominent CEOs and CFOs from around the world through the APM course. Some of the well-known dignitaries include Dave Cummings, owner and CEO of Tradebot Systems and Tradebot Ventures; John Dicus, chairman, president and CEO of Capitol Federal Savings Bank; Gene Diederich, CEO of Moneta Group among the others.

McCarthy also made initial donations of $500,000 and $10 million for the School of Business in 2001 and 2007 respectively. The McCarthys pledged approximately $2 million to a KU-managed charitable foundation as the first installment of overall $10 million donation.

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