Supporting the Education of Business

Like many people, trucking executive Russell Gerdin and his wife Ann always wanted to give something back to the community.

At Iowa State University, they found a cause to support, one that would help lay a foundation, literally, and nurture the growth of some of tomorrow’s business leaders.

“We really believe in the education of young people,” said Russell Gerdin, founder and president of Heartland Express, Coralville, Iowa. Ann is a retired schoolteacher.

The couple’s $10 million gift to the university was the third-largest donation in Iowa State’s history. It also gave a major boost to a $35.5 million fund-raising drive for the university’s College of Business. The Gerdins presented the money to ISU President Martin Jischke and Ben Allen, dean of the College of Business, during a ceremony last fall.

Jischke said he would ask the state for a matching donation of $10 million and would seek contributions from private donors.

More than half of the total — $22 million — is earmarked for a new building to replace the tight confines of Carver Hall. The lack of space has forced many business classes to be held off campus. The rest of the money will support scholarships, programs and faculty endowments.

The new Gerdin Business Building is scheduled to open in 2002.

For the full story, see the March 15 print edition of Transport Topics. Subscribe today.