The University of Nevada, Las Vegas (UNLV) today announced a $15 million donation from the Ted and Doris Lee Family to bolster business education at UNLV. Pending approval by the Nevada System of Higher Education Board of Regents, UNLV will formally name its business college the Lee Business School at UNLV in honor of their support.
The gift is among the largest individual donations to a college or school in UNLV's history and the largest to support faculty endowments. In addition to the creation of 10 endowed professorships for top faculty, it will fund scholarships for business students and bring top national business minds to campus through a public lecture series and executive education program.
"Education has always been important to our family," said Ted Lee. "We see the potential for UNLV to be at the forefront of educating business leaders for Nevada and the nation, and we hope that our gift will help make this a reality."
The Lee family's $15 million donation will support:
- Lee Professorships - Ten endowed professor positions will be created over eight years to provide market-competitive packages to recruit top junior faculty in high need areas. The professorships will be funded by a $10 million endowment.
- Lee Scholars Program - A scholarship program for high achieving undergraduate and graduate students who demonstrate financial need. Students will be eligible for one-time $1,000 awards or renewable $6,000 (undergrad) and $15,000 (grad) awards. The awards will be funded by a $2.5 million endowment.
- Lee Thought Leader Lecture Series - Internationally recognized business leaders and innovators will come to campus to discuss current issues and trends at biannual public lectures. A $750,000 endowment will fund the lecture series.
- Lee Visiting Professor Program - Prominent visiting scholars from various fields will lead an intensive, one-week executive education course to help business leaders to develop innovative ways of meeting the top challenges in business. A $750,000 endowment will fund the program.
"This is a transformational gift for us," said UNLV President Neal Smatresk. "It will create a legacy of excellence for our faculty and students. I commend the Lee family for their visionary thinking, and I am profoundly grateful for their faith in our university. I believe that the next generation of people who will change the way the world does business will come from UNLV."
The Lee Business School is the largest school at UNLV with more than 3,500 undergraduates, 500 graduate students, and 85 faculty members. The school offers nine undergraduate majors and four MBA concentrations, an Executive MBA, and dual MBA programs with the Dental School, Law School, and Hotel College. The Lee Business School is among just 177 business colleges and schools worldwide to hold international accreditation by the Association to Advance Collegiate Schools of Business.
About the Lee Family
Ted and Doris Lee have been active in the community since they came to Las Vegas in 1971. From real estate investment and development to operating casinos, hotels and restaurants, the Lees and their two sons, Gregory and Ernest, own and manage dozens of properties, including the Eureka Casino in Las Vegas and the Eureka Casino Hotel in Mesquite. The family supports community projects in parks and recreation, intercollegiate athletics, education and the arts. In 2001, Ted and Doris established the first endowed professorship in law at UNLV's Boyd School of Law.