A recent gift from Allied Realty Co. helped Marshall University reach its $15 million West Virginia Research Trust Fund goal.
The $150,000 donation will go to support the Marshall Institute for Interdisciplinary Research as well as the College of Fine Arts. A portion of that, $100,000, is designated for research at MIIR. The gift, coupled with other year-end gifts and pledges will be matched by the state's trust fund, also know as Brains for Bucks and will allow Marshall to draw down the last of its money allocated in the fund.
This isn't the first time Allied Realty has stepped up to help the school.
"It is entirely fitting that Allied Realty Co. made the donation that brings us to our goal," said Marshall University President Stephen J. Kopp. "Allied was the first private donor to step forward when the trust fund program was established, and they have been supporting research at Marshall with generous donations ever since. The Polan family and their company are community leaders in every sense. We are fortunate to have their commitment to advancing local and regional economic development through research."
The Legislature created Bucks for Brains in 2008 with an initial appropriation of $15 million for Marshall and $35 million for West Virginia University. Since the program's inception, the schools have tapped into the fund to double private gifts that support research initiatives related to economic development, health care and job growth. Thanks to the gift from Allied, Marshall has raised its maximum of $15 million in private donations. With a match from Brains for Bucks, the school is set to receive a $30 million benefit.
Bucks for Brains has led to the creation of 16 new research endowments at Marshall and will increase the university's overall endowment by more than 15 percent.
Allied Realty Co. president Rebecca Polan said MIIR's role of conducting bioscience research at the school and facilitating partnerships with outside companies is vital to Huntington and the region.
"We are pleased to support organizations that serve Huntington, the state and region," she said. "Marshall University makes the Huntington community an excellent place to live, learn and work."
Since 2008, Allied Realty has donated a total of $450,000 for research at Marshall. With the match from Brains for Bucks, the total benefit to the university from Allied's gifts is $900,000.
Allied Realty Co. is the corporate hub for full-service global logistics businesses with more than 2.5 million square feet of commercial, manufacturing and distribution holdings in downtown Huntington as well as Kenova, Nitro and Parkersburg in West Virginia, Paris, Ky., and Waynesboro and Harrisonburg, Va. The $50,000 portion of Allied's gift designated for the College of Fine Arts will help support the school's capital campaign, including renovation of the former Stone and Thomas building in downtown Huntington. The renovated facility will eventually house Marshall's visual arts and graphic design programs.