Inside Iowa State

Aug. 25, 2006

Part of $12 million gift will support faculty

A recent $12 million gift to Iowa State comes from the late Iowa State alumna Frances Craig and is one of the largest on record. Craig was a 1949 home economics graduate who died in November 2005.

Craig left the gift in honor of her parents, Mary and Dan Craig. Dan Craig graduated from Iowa State in 1909 and became president of the Iowa State College Alumni Association in 1939. He was chairman of finance for the memorial field house fund-raising committee and in 1949 received the Iowa State College Alumni Recognition Medal.

Frances Craig's gift, in combination with past family gifts, makes up the Craig Family Fund. Earnings on the endowment are directed to strategic priorities at the university president's discretion. The fund will allow the president to put special emphasis on faculty support -- a portion of the fund already has been used to establish the Frances M. Craig Chair. Chemistry professor Mark Gordon is the first to be appointed to the position.

"We are incredibly grateful to the Craig family for their generous gifts to the university and the opportunities they provide," President Gregory Geoffroy said. "The Craig Family Fund enables the university to designate these dollars strategically with early revenues to be used for much-needed faculty support."

Earnings on the Craig Family Fund are directed to strategic priorities at the university president's discretion. A portion already has been used to establish the Frances M. Craig Chair.