After receiving the largest individual donation in USF History, the College of Business will now be the USF Muma College of Business after alumni and philanthropists Les and Pam Muma donated $25 million to the university.
The name change was decided at a Board of Trustees meeting held 30 minutes prior to the announcement Friday. The donation will be used to expand the corporate mentor program to the majority of incoming business students and get more of the college’s faculty experience working with outside companies, said USF College of Business Dean Moez Limayem.
“Because of this great transformational gift, our students will have a great education,” Limayem said. “Not only that, but they will graduate ready for the job and when they hit the ground running for employers right here in our area, they will be productive.”
The donation from the Mumas is in addition to their previous support of the first phase of the USF Foundation’s Unstoppable Campaign, Foundation CEO Joel Momberg said. Friday’s $25 million donation brings the couple’s total support of the university to $41.2 million.
“Les and Pam are two of the most generous people I know,” Momberg said. “Everyone is familiar with their generosity throughout the community, their generous touches are everywhere, in every organization.”
Les Muma graduated from USF in 1966 and is the retired chairman and CEO of financial industry automation company Fiserv, Inc., which Les founded in 1984. Les was both a chair on the Board of Directors of the USF Foundation as well as chair of the first phase of the Unstoppable Campaign that raised $620 million. The campaign is now in its second phase with a goal of raising $1 billion.
The couple’s donation Friday was given nearly 50 years from when the two first met at USF in September 1964.
“The paths we walked were not covered with ivy, they were covered with a lot of sand spurs,” Pam said. “There were very few oak trees, but they carried us, with our hopes and our dreams, as two young students walking hand in hand, looking for what our future might bring.”
The $25 million donation will be split between $20 million in an endowment to be invested and used for the long-term funding of the college and the remaining $5 million used to enhance the college’s offerings immediately, according to the Tampa Bay Times.
USF President Judy Genshaft will honor the Mumas and their donation during the Homecoming football game against East Carolina on Saturday night.