a culture of giving
Establishing a Legacy of Quality, Honor and IntegrityWritten by: Brenda Johnson
In October 2007, UVSC received its largest donation to date when the Woodbury family announced an astounding $20 million donation to UVSC's School of Business.
Thanks to this generous gift, the newly-named Woodbury School of Business has a bright future ahead of it. "In 10 years, the Woodbury School of Business will be known in national circles as a high-quality school," says Stanley Jenne, dean of the school. "This donation is going to provide an opportunity that we haven't had in the past—an opportunity to start new ventures, build new programs and stay on the forefront of business education."
Some of the money donated will help to support faculty scholarship, such as research, publication and professional development. Other funds will be used to increase international education, including sending more students and faculty on exchanges with foreign universities. Much of the funds will be set aside as what Jenne calls "seed money," which are flexible funds meant to be held for unexpected opportunities that arise.
The donation is not only the largest gift UVSC has received, but is also the largest single gift the Woodbury family has ever given. President Thomas S. Monson, first counselor of the first presidency of the Church of Jesus Christ of Latter-day Saints and close friend of the Woodbury family, attended the press conferences that announced the donation. "You've only seen the beginning of the Woodbury name as it pertains to this school," Monson said. "Thank you to my dear friends, the Woodburys, for what you're doing at this lovely institution. You placed your money where your heart is, and where the need is greatest."
This isn't the first time the Woodburys have helped UVSC, nor is it the first time Woodbury Corporation has had a hand in helping the community of Utah County. In fact, the newly named School will be headquartered in the building that carries the same name, the result of a donation made by the Woodbury family as a memorial to their parents, F. Orin and Nina Woodbury in 1996. Although the head offices of Woodbury Corporation are located in Salt Lake City, the Woodburys have played a large role in the development of Utah County, creating commercial centers like the University Mall in Orem, which has housed UVSC classroom and museum space over the years and The Meadows shopping center in American Fork, Utah. The Corporation has also expanded to include major developments in seven western states as well.
"We feel the residents of Utah Valley have supported us fully in our business endeavors, and so we owe some support to them," says Rick Woodbury, president of Woodbury Corporation. "We feel we can give that support by helping to build a strong business school, so the valley can further grow, and so there can be many successful businesses from which we can all benefit."
The Woodbury name has long stood for principles of integrity, unity and hard work, as well as working for the benefit of the whole. These values have been ingrained into the Woodbury family and Woodbury Corporation. Faculty, staff and students in the School of Business expect the same values to be reflected in the school that now bears the Woodbury name.
"We pledge a firm commitment to make the Woodbury family proud of the Woodbury School of Business," said UVSC President William A. Sederburg. "The Woodburys should know we will be much more than stewards of their money. We will be good stewards of their name as well."