Home Nonprofit & Education Education Salve Regina University receives $12M gift to expand business learning

Salve Regina University receives $12M gift to expand business learning

By

James Bessette

-

02/11/2025

Aerials of buildings and campus — SALVE REGINA UNIVERSITY has received a $12 million gift from the Jean and David W. Wallace Foundation to help expand business learning for all the university’s students. / COURTESY SALVE REGINA UNIVERSITY

NEWPORT – For the second time in close to three weeks, Salve Regina University is receiving a multimillion-dollar gift. This latest monetary award will help expand business learning for all the university’s students. Salve announced Tuesday that it has been gifted $12 million from the Jean and David W. Wallace Foundation, with a focus on

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NEWPORT – For the second time in close to three weeks, Salve Regina University is receiving a multimillion-dollar gift. This latest monetary award will help expand business learning for all the university’s students. Salve announced Tuesday that it has been gifted $12 million from the Jean and David W. Wallace Foundation, with a focus on creating innovative experiences in business for students. Additionally, the university’s business and economics department will be named in the Wallace family’s honor. This gift comes after Salve on Jan. 23 received $5 million from Barbara A. Papitto, the Papitto Opportunity Connection’s founder and Salve board trustee, to help construct a new student garden pavilion on campus. Salve says the new endowment will help expand business student and faculty participation in conferences, competitions, entrepreneurial initiatives and economic impact studies. The endowment will also fund new experiential learning opportunities for all students through the university’s Salve Compass program, Salve says. “The value of the Wallace family’s gifts to the university cannot be overstated. We would not be where we are without them," Salve President Kelli J. Armstrong said in a statement. “This latest gift will help us strengthen the Business and Economics Department with lecture series, scale up our experiential learning, support faculty projects and stay up to date on the needs our students will fill for communities when they graduate. It positions us to provide opportunities that build real-world readiness for all.” Also, the newly created department chair position will be named after Anita and Robert R. Young, the university says. The Youngs, Salve says, played a role in establishing a philanthropic relationship between the university and the Wallace family. To date, the Jean and David W. Wallace Foundation has contributed more than $24.6 million to Salve for various initiatives, Salve says. James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on X at @James_Bessette.