UA Alumni Establish $1.5 Million Endowment for School of Accountancy

TUSCALOOSA, Ala. — University of Alabama Culverhouse College of Commerce alumnus Gary Fayard and his wife, Nancy, have made a $1.5 million gift to the College to create the Fayard Endowed Chair in Accounting, the largest endowment in the history of the Culverhouse School of Accountancy, a division of the Culverhouse College of Commerce.

Fayard retired earlier this year after 20 years with The Coca-Cola Co. where he served most recently as chief financial officer. He is a 1975 graduate of Culverhouse. Nancy Fayard is a 1975 graduate of UA’s College of Education.

“This endowment will help us to further develop an already exceptional accounting program with the addition of another outstanding faculty member,” said Dr. J. Michael Hardin, dean of the Culverhouse College of Commerce. “We are forever thankful to the Fayards for their generous gift and support of the College. This type of donation is necessary to help the School of Accountancy and the College move forward as a top-notch program.”

Dr. Rich Houston, director of the Culverhouse School of Accountancy, will soon start the search for the new faculty position.

Earlier this year, the 2014 Public Accounting Report rankings listed the Culverhouse School of Accountancy’s undergraduate and master’s programs eighth in the nation and the doctoral program 12^th, the highest rankings in the history of the school. The program is also ranked second in the nation when compared to schools of the same size.

In recognition of the Fayards’ strong support of the College, Hugh Culverhouse Jr. has agreed to match the $1.5 million gift for his scholarship program in the College of Commerce. This will bring Mr. Culverhouse’s total gift to the Culverhouse Scholarship Program to more than $3.5 million.

“To receive the extremely generous gift of  $1.5 million for the endowed chair is exciting and when you add the additional $1.5 million for scholarships, that’s more reason to be excited,” said Hardin. “The philanthropy of these families will go a long way in helping our students get the education they need to be successful in a competitive, global economy.”