SOUTH KINGSTOWN – The University of Rhode Island’s College of Business is receiving a seven-figure gift from an alumnus, who is the former chief financial officer of Pinnacle Foods Inc., and his wife, who held multiple senior finance roles at Reckitt Benckiser.
URI announced Monday that Craig D. and Sandra Steeneck are committing $1.3 million to the university’s College of Business to help advance immediate and long-term priorities at the business college. Craig Steeneck, a 1980 URI graduate, said in a statement that he and his wife Sandra decided to support the university when they put together their estate plan.
“I received a great education from the College of Business, and my accounting professors provided me with valuable career guidance that started me on a very successful path,” said Craig. “We chose RhodyNow to help students and faculty immediately, and Ballentine Hall is an investment in real estate that will have an impact now and in the future. We believe in URI and appreciate the unique way it works for the betterment of the state of Rhode Island.”
The largest portion of the three-part gift is $1 million to establish the Steeneck Family Endowed College of Business Excellence Fund. URI said the endowment will provide funds for technology that will deliver an advantage for faculty and students, as well as support study abroad and international guest speakers.
The Steeneck’s gift also includes $250,000 to be used toward the renovation and expansion of Ballentine Hall and the student lounge will be named in the Steeneck family’s honor, URI said. The renovated Ballentine Hall will include open teaching spaces and labs across 13,000 square feet of renovated space and 7,000 square feet of expanded space, the university said.
URI also said the gift included $60,000 to finance immediate needs for the college of business.
“The Steenecks’ generosity will ensure the success of our students and faculty now and in the future,” said Maling Ebrahimpour, dean of the College of Business, in a statement. “They have both been very successful and they appreciate the importance of meeting the changing needs of the global economy. They have thoughtfully structured their contribution so we can implement immediate and long-term improvements.”
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 Twitter at @James_Bessette.
