$12 million donation to Salve Regina University to enhance business programmes.

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Salve Regina University in Newport, Rhode Island, has announced a significant $12 million gift from the Jean and David W. Wallace Foundation. The generous donation will be used to expand programs within the university’s Business and Economics Department, now renamed the Jean and David W. Wallace Department of Business and Economics.

The gift will also establish the Anita and Robert R. Young Department Chair and support the growth of business student and faculty participation in conferences, competitions, economic impact studies, and entrepreneurial initiatives. Furthermore, the endowment will aid in the launch of the Salve Compass Program, which provides students with hands-on, real-world skills and knowledge to succeed in college and the job market.

The Jean and David W. Wallace Foundation has a long history of supporting Salve Regina University, with total donations exceeding $24.6 million across multiple generations. Salve Regina University President Kelli J. Armstrong expressed her gratitude for the foundation’s continued support, saying, “The value of the Wallace family’s gifts to the university cannot be overstated. We would not be where we are without them.”

Regarding the impact of the latest gift, Armstrong stated, “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.

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