Kent State’s College of Business Administration Receives $3.1 Million Gift to Support Scholarships
Kent State University has received a $3.1 million gift for a College of Business Administration scholarship endowment from the estate of Kent State alumnus Joseph Stevens.
The Stevens Family Scholarship for the College of Business Administration was established by Joseph and Frances Stevens. Mr. Stevens earned a Bachelor of Business Administration in accounting from Kent State in 1941.
“We are grateful that the Stevens family’s tremendous support will enable us to provide additional scholarship opportunities in order to put ‘Students First’ in all we do,” says Kent State President Beverly Warren. “This gift will play an important role in the future of the university by shaping the upward movement of our talented business students.”
The estate gift will be used as a scholarship endowment, providing more than $155,000 annually for distribution to juniors and seniors with a 3.0 grade point average (GPA) or higher who are majoring in a program in the College of Business Administration and demonstrate financial need.
“Thanks to the generosity of Joe and Fran Stevens, the College of Business Administration will be able to assist many more undergraduate students who are in need of financial assistance to complete their degrees,” says Deborah F. Spake, Ph.D., dean of Kent State’s College of Business Administration. “We look forward to supporting many more high-achieving business students as a result of this gift.”
Trenaé Fox, Kent State entrepreneurship major, knows firsthand the difference a scholarship can make in an academic career. She received a similar scholarship from Kent State’s College of Business Administration this fall. She says it allowed her to continue pursuing her education.
"The scholarship gave me an extra push to reach my highest potential in my studies,” Ms. Fox says. “I have big dreams after graduation, and with the additional financial help, I can continue reaching my goals and fulfilling those dreams.”
Born in Ohio and brought up in New York City, Mr. Stevens went on to work for two of the nation’s largest accounting firms as an accountant and auditor. He later became treasurer and vice president of two educational publishing houses before retiring as vice president of Xerox Corp. A resident of Seminole, Florida, he served as an officer in several community service organizations, as well as business and professional clubs during his career, and was twice chosen as president of the National Association of Accountants.
“With this scholarship endowment, which was our largest gift of Fiscal Year 2017, Joseph Stevens was able to give back to the college that gave him the tools to be a successful professional,” says Stephen Sokany, Kent State’s vice president for institutional advancement. “But the impact goes much deeper than that. His gift is empowering students to receive that same high-quality education, while also illustrating the importance of philanthropy to those who benefit from his scholarship.”