LOGAN -- Utah State University on Wednesday announced a $6 million anchor gift made to the Jon M. Huntsman School of Business.
The donation, made by Jeffrey and Bonnie Clark, will establish the Jeffrey D. Clark Center for Entrepreneurship. An additional $4 million will be sought to complete the center's funding.
"This gift from Jeff and Bonnie and their active involvement with our entrepreneurship programs will move us ahead significantly," said Douglas D. Anderson, dean of USU's Jon M. Huntsman School of Business. "Now we can provide ever-more concrete, effective assistance to budding entrepreneurs who have great ideas they want to develop."
Michael Glauser, executive director of the newly named center, said the Clarks are willing to invest their time in helping Huntsman students refine their entrepreneurial skills.
"This is a tremendous opportunity for us to work together, potentially to change the face of entrepreneurship education in the state of Utah," Glauser said. "We are thrilled to be working with the Clarks because of the reputation, credibility and integrity they bring to the Huntsman School."
Glauser called Jeffrey Clark "... a perfect role model for our students."
Jeffrey Clark, a 1981 USU alumnus in accounting, in 1985 co-founded one of the first "fund of hedge funds" in the United States, Genesee Partners. He went on to found his own firm, Praesideo Asset Management, in 1991. He sold Praesideo this year, after 20 years of 10.8 percent average returns.
Bonnie Clark is a graduate of Weber State University and a member of its Board of Trustees. She also has served on the board of the Boys and Girls Club of Weber Davis and the Weber School Foundation.
The Clarks' current focus is on the social impact of investing, and seeking investments that have the potential to change the world for the better. Among their investments are products and programs designed to make positive changes in South Africa, Pakistan and South America.
Jeff Clark said he is looking forward to working closely with Glauser, in part because the center is supporting students who want to make a positive difference in the world.
"I admire Mike so much and the work he has done with the center thus far," Clark said. "I really value the opportunity of working with him to help expand its reach."