By Cecilia Cress
News Co-Editor
The Office of the President announced via email on Nov. 8 that a five-million-dollar grant was awarded to Washington College by the JHC Foundation. This grant is “one of the largest gifts in our 239-year history,” according to the College website.
According to the email, the grant “will provide direct investment towards accreditation of our Business Management program by the Association to Advance Collegiate Schools of Business, as well as enhance the overall student experience.”
“AACSB accreditation is widely recognized as the most respected credential for business and accounting programs around the world,” President of the College Dr. Mike Sosulski said. “State university programs and business-focused private schools often are accredited, but only a handful of liberal arts colleges earn the distinction. Since achieving AACSB accreditation typically takes five to seven years, this is a truly transformational gift.”
Dr. Sosulski said this grant is planned to be used to renovate and improve Daly Hall, home of the business management program. This will include providing larger student and faculty spaces and updating classrooms, offices, and other spaces, including expanding the Brown Advisory Investing Room with Bloomberg Terminals, according to the article published on the WC website.
This grant will also “allow the College to endow key faculty positions in business management,” according to Dr. Sosulski. These key faculty positions will include the establishment of five endowed chairs for the Business Department faculty.
According to the WC website, this grant was timely because the Business Management program will celebrate its 40th year in the fall 2022 semester.
A one-million-dollar gift was also awarded to WC by JHC Foundation in 2019, as well as an additional $500,000 in 2020. These grants established The Warehime Fund for Student Excellence in Business, which, according to the WC website, helps support “activities and opportunities for students in the business management program,” including those pertaining to research in the field.
The Warehime Fund “leverages individual and group student participation in practitioner and scholarly activities through dedicated financial support, unlocking a new era in student engagement, innovation, and creativity beyond the classroom,” according to the WC website.
The fund supports projects including “advanced research techniques such as performing primary research through surveys or interviews” for Senior Capstone Experiences and other student entrepreneurial projects, as well as the “funding of student participation in both academic and practitioner conferences to present their research, network with professionals, and increase their knowledge of the latest in business theory and practice,” and more.
“The Warehime fund supports activities and opportunities for students enrolled in a business management program, including advanced research techniques, both on and off campus. Warehime Fellows work closely with faculty mentors to produce high-quality academic research, with the aim of submitting their final products for publication in peer-reviewed journals and participation in academic and practitioner conferences, as well as case competitions,” according to the WC website.
Elizabeth Warehime ’13 spoke at the grant announcement event on Nov. 8, saying, “the JHC Foundation stands in tribute to my father’s life and his work, and he would be so extremely proud of this investment and how it will support the student learning experience here at Washington College.”