The huge gift comes via the estate of Marvin Mann, a 1954 graduate of what was then known as Howard College, now SamfordU. Mann began working for IBM in 1958, became CEO of its product division, and in 1991 became CEO of Lexmark, an IBM spinoff company.
Samford University today announced it will receive a gift of $100 million, the largest single gift ever made by a donor to a university in Alabama.
The $100 million will be added to Samford University’s endowment and with its earnings will be able to offer an additional nearly $4 million in scholarships annually. “This would bring our endowment up to about $470 million,” up from about $370 million previously, Samford University President Beck Taylor said.
Mann, 88, died March 19. According to Mann’s wishes, $95 million will go toward endowed student scholarships and $5 million will go to support the, which was established by Mann in 2008 in honor of his late wife, Frances. “My father occasionally told stories of hitchhiking to and from Samford during the 1950s, so he must have highly valued his experience there, especially considering the effort he had to go through to attend,” said Mann’s son, Jeff Mann. “It’s obvious that my father revered Samford University and its community. For anyone to provide a gift that represents decades of hard work, leadership and successful investing he must have had full confidence in the leadership and future of the institution.
The Frances Marlin Mann Center for Ethics and Leadership is an endowed, university-wide unit that promotes student development and enriches teaching and scholarship in the university’s 10 academic schools. It provides resources to students, faculty, staff and Alabama nonprofits in order to promote the understanding and practice of positive character and servant-leadership.
“When I spoke with Marvin last fall, nearly 15 years after establishing the Mann Center, he continued to voice his desire to see Samford’s students develop through virtue and character education. He was an inspiration to me,” Taylor said.
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