An Official Employee Publication From the Office of University Relations

The philanthropic arm of Topeka-based Capitol Federal Savings has pledged $2 million — the foundation’s largest gift to date — to establish a distinguished professorship in finance at the KU School of Business.

The gift will establish the Capitol Federal Distinguished Professorship in Financial Markets and Institutions at the Kansas University Endowment Association. Capitol Federal’s commitment will allow the school to add a new faculty position, provide salary for the Capitol Federal professor and give additional support to continuing education programs for the financial sector.

The gift counts toward the $500 million goal of KU First: Invest in Excellence. KU First is the largest fund-raising campaign in KU history.

“With this gift, the Capitol Federal Foundation has once again chosen to invest in the success of its surrounding community,” said Hemenway. “The foundation’s commitment will allow KU to attract and retain a faculty member who will be among the best in the world of finance. The University of Kansas and the School of Business are exceptionally grateful to be the beneficiaries of Capitol Federal’s generosity.”

Jack Dicus, chairman of the foundation and a KU Endowment trustee, said the organization chose to support the professorship for several reasons.

“In a sense, this is a means to an end,” he said. “We need highly skilled people who can teach and inspire future members of the finance industry, whether that’s in the sphere of international commerce or in the local home-finance market. Also, we feel that through teaching, advising and research, the individual chosen to hold this professorship can have a major positive impact on the lives of business students.”

Dicus said the foundation pledged the gift at this time to take advantage of the Kansas Partnership for Faculty of Distinction. Through the program, the interest earned on the professorship fund will be eligible for matching support by the state of Kansas.

“It’s so exciting to form a partnership with such a respected financial institution as Capitol Federal,” said Bill Fuerst, dean of the business school. “We’d especially like to thank Jack Dicus for his foresight in helping establish this fund. The Capitol Federal Professor will add new insights and perspectives to our existing excellent faculty and help us further develop our curriculum in financial markets and institutions. Equally important, the Capitol Federal professor will provide students with the additional skills necessary for the continued development of the state and region.”

Fuerst said that finance skills had broad applications, from an individual’s personal goals to a corporation’s need to meet its obligations to shareholders.

“At the personal level, for example, the excellent returns on investments that many Americans have experienced in recent years were made possible, in part, by a good knowledge of finance,” he said. “Looking through the wider lens of the corporate world, the ability to understand and analyze market changes -- and use that information to limit losses and increase returns — is essential for financial institutions, which serve both private investors and corporations. Thus, it is extremely valuable for our students who go on to work in financial institutions to learn from a professor as distinguished as the Capitol Federal professor.”

The Capitol Federal Foundation, which has supported many other areas at KU, was established in 1999 when Capitol Federal Savings became a publicly traded company. With assets of about $37 million, the foundation annually awards grants for affordable housing programs, the United Way, higher education and community projects in Topeka and the cities where its 34 banking branches are located.

KU Endowment is conducting KU First on behalf of KU through 2004 to raise funds for scholarships, fellowships, professorships, capital projects and program support.