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UH alum donates total of $228 million to business college - Honolulu, Hawaii news, sports & weather - KITV Channel 4

UH alum donates total of $228 million to business college

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HONOLULU -

The University of Hawaii Shidler College of Business announced Wednesday, it's received a benchmark $228 million donation. The generous gift comes from UH alumnus Jay Shidler, the man the college is named after. It's the largest single donation in the school's 11-year history.

Shidler is one of Hawaii's leading real estate investors. He credits his alma mater for much of his own success and is committed to seeing the school succeed.
    
"My job is to ensure that this university and this college of business has financial resources that continue to be relevant and viable," Shidler said.

The 1968 graduate's latest donation includes an assortment of commercial properties on the mainland. Those properties range from hotels, office buildings and a biomedical center.

Under the agreement, UH, now owns the land under those buildings and will collect rent. Over time, those leases are projected to yield at least $7.2 billion for the school.

"This financial support and validity to recruit the best faculty, continue to launch innovative programs, just makes our future incredibly bright," said Shidler College of Business Dean Vance Roley.

Shidler said the 99-year leases that UH has now acquired will provide a steady flow of cash.  
 
"That's a really, really, really passive management free, high-quality flow of income that we call, 'set it and forget it,'" said Shidler.

UH said the benchmark donation will fund renovations, new programs and also bring on an immediate increase in the number of scholarships.

"It's an opportunity to provide very affordable perhaps, one day, free world class higher education and open new opportunities for students from Hawaii to the mainland and throughout the Asia-Pacific region," said UH President David Lassner.

The university hopes Shidler's generosity will inspire other alumni as well.

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