Exceeds Match Challenge by Benefactor Darla Moore

COLUMBIA, S.C., July 31 /PRNewswire/ -- The University of South Carolina's Darla Moore School of Business announced today that it has met and exceeded the $30 million it needed to raise in five years to make the Match Challenge put forth by philanthropist and University Trustee Darla Moore -- the first step in a strategic renewal process that the School says will help to re-define business education for a new century.

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Moore, who earned her bachelor's degree from the University of South Carolina in 1975 and is the top woman benefactor to any business school in the world, announced a $45 million gift to the business school in 2004 and challenged the school to raise $30 million in five years -- following the University's institutional commitment of $15 million.

University President Harris Pastides said the School has raised $42.4 million, much of which has come during one of the most challenging fundraising periods in decades. University officials noted an unprecedented display of giving and commitment from alumni, corporate partners and individual donors over the past six months as the match deadline approached. In all, 7,515 individuals contributed exclusively to the Moore School since the beginning of the match period in August 2004.

In reaching the milestone, Moore said she has seen her original goal achieved: to lay a foundation for the business school to build on its leadership position in international business and serve as a catalyst for economic development in the State -- and, in doing so, begin to develop a new model for the business school of the future.

"I am delighted that so many of our alumni and friends have taken this opportunity to invest in the business school of our state's flagship institution, despite today's difficult economic times," Moore said. "By pledging their hard-earned dollars, these generous supporters are showing that they value our school's unique strategy, mission, and leadership."

When she made the challenge in 2004, Moore had specified that the gift could be used for a new, state-of-the art -facility for the Business School or as an unrestricted fund. The School plans to construct a new building within the University's innovative research district called "Innovista." Funds have also been earmarked for scholarships, recruiting new faculty and supporting inter-disciplinary and strategic initiatives.

"Darla Moore's generosity and the University's commitment have given us a unique opportunity to advance business education to the next level at a time when it is critically needed," said Moore School Dean Hildy Teegen. "By enabling us to build a new management education facility as an integral part of a district dedicated to innovation, sustainability and technology transfer, we have the ultimate model for bringing together theory and practice and putting the business school at the center of creating value for society."

University President Pastides noted that the entire community rallied together to make the match.

"This is a testimony to Darla Moore's vision to offer students a world-class business education and the collective commitment and spirit of the University community," Pastides said. "Everyone stepped up and came together at a critical time -- deans, faculty, staff, students, trustees, alumni, and corporations."

Dean Teegen added that a changing economic environment required new and different ways to reach out to alumni, donors and corporate partners.

For example, the Match involved several gifts for initiatives that are cross disciplinary. Based on these gifts and others in planning, the Moore School is currently working closely on joint initiatives that involve other schools and departments at the University including: the Schools of Arts and Sciences, Engineering, Law, Music, Pharmacy, Education, Hospitality, Retail and Sports Management and the Honors College.

"The complexity of business today requires that we look past traditional barriers," Teegen said. "The Moore School is emerging as a leader in understanding the interplay of business, government and civil society and in working with colleagues in other fields to develop solutions for the marketplace that address complex and compelling needs throughout the world. We want to institutionalize that holistic philosophy into our culture at the Moore School and work with donors to create new programs and joint initiatives with other schools across the University," she added.

The School also worked with major corporations in securing gifts in the form of new technology that will significantly advance the School in areas such as distance learning, IT operations and curricular developments in risk management. Other gifts include $6 million for the School's participation in the Consortium for Enterprise Systems Management and $3 million from Sonoco.

Finally, the School utilized some new techniques to communicate more frequently with its alumni -- including new print and electronic publications and a new website (www.moorematch.com). Most significantly, the School created a buzz on the internet with a viral marketing video about Darla Moore and the School's history that went from YouTube to a large segment of the alumni network.

About the Moore School

The Moore School of Business is among the highest-ranked business schools in the world for international business education and research. Founded in 1919, the school has a history of innovative educational leadership, blending academic preparation with real-world experience through internships, consulting projects, study-abroad programs, and entrepreneurial opportunities. The Moore School offers undergraduate, master's, and doctoral degrees, as well as distinctive executive education programs. In 1998, the school was named for South Carolina native and New York financier Darla Moore, making the University of South Carolina the first major university to name its business school after a woman.

About the University of South Carolina

For two centuries, the University of South Carolina's scholarship, research and outreach efforts have contributed to the greater good of society. With 39,000 students on eight campuses and more than 350 degree programs -- including law, engineering, public health and medicine -- and 240,000 alumni, the University is improving the lives of individuals in South Carolina and around the world. South Carolina has received the highest research designation awarded by the Carnegie Foundation, and the University's undergraduate international business program is ranked best in the nation in U.S. News & World Report.

SOURCE University of South Carolina's Darla Moore School of Business

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