University Receives $100,000 Donation From First Tuskegee Bank

4/10/2006


TUSKEGEE, Ala. – (April 10, 2006) – Tuskegee University received the first installment of a $100,000 donation from First Tuskegee Bank today that will go toward construction of the University’s new state-of-the-art Andrew F. Brimmer College of Business and Information Science building.

“First Tuskegee Bank’s contribution is significant because it demonstrates the support of the local Tuskegee community. It is also the largest gift we have received from a local private business,” said University President Benjamin F. Payton. “First Tuskegee Bank’s donation is the type of support for which many schools look. Whether it be for periodic upgrades of facilities for students and faculty, the purchase or replacement of books, periodicals and journals or providing seminars and workshops to ensure a well-rounded environment for our promising students, Tuskegee University appreciates the financial gifts.” 

Significant space in the new business school will bear the First Tuskegee Bank name. The second installment of $50,000 will be given to the University next year.

“We believe that the community goals ofTuskegee University and First Tuskegee Bank are the same,” said James W. Wright, Chairman, President and CEO of First Tuskegee Bank. “Tuskegee University in fulfilling its important responsibilities and in consideration of the gifts of others, First Tuskegee Bank intends and expects to contribute the sum of $100,000. First Tuskegee Bank cares about Tuskegee University, and our statement today evidences our level of caring and support.”

With nearly 600 students and faculty, the College of Business is keenly focused on remaining among the top tier schools offering an academically sound, career-oriented curriculum designed to produce graduates with the capacity and inclination to excel.

“Tuskegee, Alabama is my home.  I have grown up with the Tuskegee University campus and culture as part of my life.  I am glad to be able to help continue and expand the University’s work.  It is about how much we care about Tuskegee University and the communities and the communities we serve,” said Ernest A. Holland, vice chair of the First Tuskegee Bank Board of Trustees.

Business and Community donations are critical to maintaining the University’s financial stability in the midst of phenomenal growth and development.  “First Tuskegee Bank’s support, belief in Tuskegee’s excellence and investment will help ensure our success,” Dr. Payton said.

Construction on the new Andrew F. Brimmer College Business and Information Science will begin shortly and is scheduled to open Fall 2007. The College of Business will carry the name of noted economist Andrew F. Brimmer, the first African American to serve on the Federal Reserve’s Board of Governors (1966 to 1974) and on the Harvard Business School’s faculty. He’s currently president of Brimmer & Company, a financial consulting firm based in Washington, D.C., and is Tuskegee University’s first African-American to serve as chairman of the Board of Trustees.

The College of Business and Information Science is accredited by the American Assembly of Collegiate Schools of Business.

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