Behrend

Trustees approve naming of Penn State Erie's School of Business

The naming of the Sam and Irene Black School of Business honors College's benefactors

Hazleton, Pa. -- Penn State's Board of Trustees today (July 11) approved the naming of the Sam and Irene Black School of Business at Penn State Erie, in recognition of the Black's gift of $20 million to the school -- the third largest gift in the University's history.

The gift was received in March 1998, but because Sam and Irene Black desired no public recognition, the gift agreement respected their wish to remain anonymous. Last month, after more than five years of anonymity, Penn State Erie publicly recognized the $20 million estate gift given by the insurance entrepreneur and his wife.

The gift will provide immediate and long-term benefits in scholarship aid, academic quality and innovation, according to Jack Burke, campus executive officer and dean. Gift funds were disbursed this spring following the passing of Sam Black in December 2001 and Irene Black in May 2002.

"We are proud to share in the vision, generosity, and commitment of Sam and Irene Black," said Burke. "Over many years, they demonstrated their support for Penn State Erie. They considered the School of Business to be a resource for the entire Erie community, and they wanted to ensure the school's growth and excellence far into the future."

Pat Black, son of Sam and Irene, and president of Samuel P. Black and Associates, said the gift reflects his parents' belief that it is important to invest in Erie, as they did throughout their lives.

"My father was a creative and innovative leader in the insurance industry, and he wanted to encourage creativity and innovation in others," Black said. "I hope the faculty and students benefiting from this endowment will draw inspiration from the lives of my parents and share in their desire to improve our community."

One of Erie Insurance's first employees, Black is credited with starting around-the-clock claims service and was noted among his Erie Insurance colleagues for his early emphasis on customer service. He was a highly successful insurance agent who started his own agency, Samuel P. Black and Associates in 1962, after a thirty-five year career at Erie Insurance. "At a time when most people are ending their careers, Sam Black was just beginning," said Burke, "and he became an even greater success in his new venture."

In addition to his business interests, Sam Black helped establish the annual Lions' Club Save-An-Eye football game and served as president of the Erie Philharmonic. He received the Alexis de Tocqueville Society's community service award for his work with the United Way. In September 2001, Sam Black received the Behrend Medallion, the college's highest honor, for his lifetime of achievement and service.

The Black Family Faculty Fund will establish four endowed faculty chairs, the Black Family Student Fund will establish undergraduate scholarships and graduate fellowships, and the Black Family Excellence and Opportunity Fund will be used to provide innovative and state-of-the-art technology, facilities, and programs for faculty and students.

The naming of the school and receipt of the endowment funds is another major achievement for the business school. In April, AACSB International, the Association to Advance Collegiate Schools of Business, awarded the school accreditation. This makes Penn State Erie the first and only institution in the Erie region to earn this distinction of excellence. Less than 18 percent of the nation's colleges and universities have achieved accreditation from AACSB International, which sets the global standard for schools of business.

Last Updated March 20, 2009

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