The University of St. Thomas business school is getting a $10 million gift from an oil refinery executive.
Harry R. Halloran Jr.'s gift to the Opus College of Business, announced today, is aimed at supporting the school's programs in corporate ethics and responsibility.
Halloran is chairman and CEO of the American Refining Group Inc. and founder and CEO of Energy Unlimited Inc., two Pennsylvania-based companies. He also is the founder of Halloran Philanthropies, an organization that supports efforts to enhance global business ethics, microfinance and community service.
"Over the past decade, I have come to know and admire St. Thomas' scholars and programs devoted to corporate ethics," Halloran said in a news release issued by St. Thomas. "The university and its Opus College of Business are leaders in this critically important field, and I am grateful to be able to support their efforts."
The Rev. Dennis Dease, president of St. Thomas, said, "This is a wonderful boost to what has been a long-standing emphasis of St. Thomas in the increasingly important discipline of business ethics."
Dease added that the gift moves the school closer to its goal of raising $500 million for its Opening Doors capital campaign that was announced in October. The total collected so far is $342.5 million, he said.
The principal beneficiary of Halloran's donation is the SAIP Institute, formed a year ago to help companies assess and enhance their ethical performance. Halloran has been active in institute's pursuits.
Last month, St. Thomas received its largest single gift for a scholarship fund. Eugene and Mary Frey, of Edina, are making a $10 million gift to provide grants to undergraduate students with financial need. Priority will be given to students of color, from immigrant communities or with physical disabilities, as well as to first-generation St. Thomas students.
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