Morgan Family Makes $8 Million Gift to benefit USF Athletics, Colleges of Business and Marine Science
Deferred gift to benefit USF Athletics, Colleges of Business and Marine Science
George '76 and Jane Morgan have had a life-long love affair with the University of South Florida. Now, thanks to a deferred gift, they've ensured that their passion for George's alma mater will be felt long after they are gone.
A USF Foundation Board member, George and his wife Jane have made an $8 million estate gift to the University of South Florida. This gift comes at the start of the second phase of the $1 billion USF: Unstoppable Campaign.
The gift will benefit three distinct areas of the University -- the College of Business, the College of Marine Science and USF Athletics. The gift provides $3 million to establish the George and Jane Morgan Endowment for the College of Business, $3 million to establish the George and Jane Morgan Endowment for Marine Science, $1 million to create the George and Jane Morgan Endowment for Men's Golf and $1 million to create the George and Jane Morgan Endowed Football Scholarship.
Morgan said that as a USF alumnus, he is especially proud to give back to his alma mater.
"I am delighted that Jane and I can make these gifts to the University of South Florida," said Morgan. "As a longtime member of the USF community, I have seen firsthand the ways in which giving improves the lives of our students and faculty. Through these endowed gifts, Jane and I know that we will also make a difference for generations to come. I hope, through our example, to inspire others to think of giving to the USF System when they are making their estate plans."
USF President Judy Genshaft noted that the Morgan's gift will impact many areas of the university.
"One powerful aspect of this gift is the way in which it will make a difference for students and faculty in so many different fields of study. Our Colleges of Business and Marine Science will benefit tremendously from the Morgans' generosity, as will our student-athletes," said President Genshaft.
The gifts will create endowments for the colleges and athletics. Because the gifts are endowments, they will provide financial resources into perpetuity.
"An endowment gift like this one is of vital importance for the College of Marine Science," said Dean Jacqueline Dixon. "It will provide our faculty and students with a steady source of funding that may be used to enhance the academic enterprise at the college, providing a boon for both teaching and research."
For the College of Business, Dean Moez Limayem said the gift will spur new learning opportunities.
"This amazing gift from the Morgan family will provide us with a consistent funding source needed to create new programs that will focus on student success."
The gift will likewise provide long-term funding for USF athletics programs. Football will benefit from an endowed scholarship, while men's golf will have a steady funding resource for equipment, travel and other annual needs.
The Morgans' estate gift provides a capstone for a lifetime of giving to USF. USF Foundation CEO Joel Momberg noted the couple's lasting legacy.
"The USF Foundation is grateful to the Morgans for their longtime support of USF," said Momberg. "They have given both time and financial resources, and in so doing have made a real difference in the lives of our students and faculty. Now, thanks to this generous estate gift, their impact will be felt far into the future. We simply can't thank them enough."