501 E. St. Joseph Street • Rapid City, SD 57701-3995
Phone: (605) 394-6082/2554 • Fax: (605) 394-6177
FOR IMMEDIATE RELEASE
November 1, 2002
Contact: Rod Pappel, Foundation President, 394-2436
South Dakota Tech Foundation Announces
$1 Million Gift to Support New Presidency
Dr. Howard C. Peterson, chair of the South Dakota School of Mines and Technology Foundation, announced today that commitments totaling $1 million from anonymous donors have been received to support the university’s new presidency.
“These donors, who wish to remain anonymous, have committed this support to enhance the overall compensation package that will be available to the new president of the South Dakota School of Mines and Technology,” Dr. Peterson said. “It is the donors’ desire to use this gift to supplement state resources to attract the best possible presidential candidates by providing the most competitive package possible.” The donors recognize the role of the university as a driver for technology based economic development and understand the importance the president will play in the future economy of the region and state.
The donors have committed $100,000 per year for the next 10 years to reach the $1 million donation. The $100,000 will be added to the annual salary set for the new president by the South Dakota Board of Regents. The Regents have not yet determined that salary.
“It is the intention of the Foundation to enhance this gift even further by combining the benefits of other ongoing fundraising efforts intended to provide housing and transportation for the new president,” Dr. Peterson said. “All of these efforts have one goal - to substantially increase the available resources to attract the best possible presidential candidates. Having the resources to aggressively compete in the national arena will ensure that the next president of Tech not only builds on the outstanding traditions already established, but leads this institution to new levels of prominence.”
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Harvey Jewett, President of the South Dakota Board of Regents, had previously announced the retirement of SDSM&T’s current president, Dr. Richard Gowen, effective July 1, 2003. Commenting on Gowen’s years of service, Regent Jewett said, “His long service to South Dakota higher education has been felt across the state. There are few higher educational leaders who have impacted a system more or leave more of a void because of his leadership and commitment.” Gowen has served as Tech president since 1987.
Regent Pat Lebrun of Rapid City serves as chairperson of Tech’s Presidential Search Committee. The committee plans to begin reviewing credentials by the middle of November and hopes to have the search completed so that a new president is ready to take office next July 1. Twelve people have been appointed by the South Dakota Board of Regents to serve as a Campus Advisory Committee to aid in the search for a new president at the South Dakota School of Mines and Technology. The Campus Advisory Committee is comprised of faculty, staff, students, administrators, and community members, who will work closely with the Board’s search committee throughout the process. Other Regents serving on the search committee are James Hansen of Pierre, Shane Penfield of Lemmon and Harvey Jewett of Aberdeen, ex officio member.
The anonymous $1 million gift will help the university attract top-caliber candidates from all over the country, but it means something else, Lebrun said.
“Through the generosity of the gift announced today, we enter into a new era, a partnership providing a more prominent candidate pool to choose from made possible with supplemental compensation received through the Foundation,” she said. “Combining state resources with this gift will permit us to compete in this national arena.”
Recent reports from “The Chronicle of Higher Education” indicate that this type of relationship is becoming widely used throughout the nation. One such example of that is at Virginia Tech where the president is paid more than $150,000 from private donations in addition to his state salary.
The SDSM&T Foundation exists solely to support the South Dakota School of Mines and Technology. Founded in 1954 as a not-for-profit South Dakota corporation, its mission is to help the university provide exceptional intellectual, professional and personal development opportunities.
For information about this announcement, call Rod Pappel, president of the Foundation, at (605) 394-2436.
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Devereaux Library. South Dakota School of Mines and Technology.