The Georgia Institute of Technology in Atlanta has announced a challenge grant of $50 million from alumnus Ernest Scheller, Jr. that, when matched, will more than double the size of the endowment of the school's college of business.
The business school, which has been renamed the Ernest Scheller, Jr. College of Business, already has received $30 million of Scheller's pledge, the Atlanta Journal-Constitution reports — funds that have been used to strengthen the college's Ph.D. program, create nine endowed faculty chairs and professorships, thirty-seven undergraduate scholarships and six graduate scholarships, and establish a discretionary endowment, enabling the school to take advantage of special opportunities as they arise.
Scheller is chairman emeritus of Pennsylvania-based Silberline Manufacturing Inc., a global supplier of high-quality pigments usned to enhance the visual appeal of coatings, paints, inks, plastics, and textiles; the company was founded by his father in the 1940s.
"Ernie Scheller has a distinguished track record of success in leading and growing one of the top family-owned businesses in the country," said Georgia Tech president G.P. "Bud" Peterson. "Ernie rightfully takes great pride in building upon his father's legacy and passing on the fruits of his labors to succeeding generations. While his generosity has had an unprecedented impact on our College of Business, I believe that impact will ultimately inspire the larger Georgia Tech community to continue boldly envisioning a future of globally renowned excellence and quality."