Alumnus John C. Beyer, of Arlington, Virginia, earned his bachelor's degree in philosophy from College of the Pacific in 1962.
$4.1 million to endow new economics chair, internship
University of the Pacific today announced a $2 million gift that will make possible a $4 million endowed faculty chair in economics and launch a new internship program.
The endowment will enable Pacific to recruit an accomplished economist with research interests in environmental issues.
The chair and internship are made possible by a gift of $2.09 million from alumnus John C. Beyer, of Arlington, Virginia, who earned his bachelor's degree in philosophy from College of the Pacific in 1962 and has remained a generous benefactor and visionary alumni leader.
The endowed portion of Beyer's gift will be matched with $2 million from the University's Powell Fund, bringing the total impact of his gift to $4.09 million.
In addition to endowing the John C. Beyer Chair in Economics, the gift will establish an exceptional internship program for economics students.
"Faculty serve as mentors during an important time in student development," said Beyer, who is chairman and CEO of Nathan Associates, Inc., in Arlington. "Helping gifted students aspire by probing them to think and act on the world around them is the crux of a meaningful education."
The gift is the first from an alumnus to establish a chair within the College of the Pacific, the university's liberal arts and sciences college.
"This is a tremendous moment of celebration," said Pamela A. Eibeck, president of University of the Pacific. "This gift reflects the generosity and dedication of an exceptionally accomplished alumnus, John Beyer, as well as the vision, talent and commitment of Pacific's remarkable College and Economics department."
Endowed chairs enable universities to attract distinguished teacher-scholars or recognize extraordinary members of the current faculty. The endowed chair in economics will have the unique opportunity to raise awareness, deepen understanding, and increase appreciation for economics through curriculum and development, instruction and community outreach.
The remaining $90,000 will fund the Nathan Scholars program, a new internship opportunity for two students annually studying in the economics department. Students will receive course credits while gaining real-world experience in applied economics at Beyer's Virginia-based economics consulting firm, Nathan Associates, Inc. Each student will receive a stipend, allowance for transportation and housing, living expenses and travel costs. The internship will enhance Pacific's commitment to experiential learning by relating classroom theory to the world of work, and will help to deepen the understanding of economics and its practical application to our daily lives.
"With this wonderful gift, we will be able to hire a scholar whose interests in natural resources will augment the focus on environmental stewardship that we are highlighting across many of our academic programs," said Rena Fraden, dean of the College of the Pacific.
Beyer has served as a valuable member of the College of the Pacific Leadership Council. With his gift, he will be inducted into Pacific's 1851 Society, which recognizes and celebrates the university's most generous donors.
After graduating from University of the Pacific, Beyer went on to earn his PhD at the Fletcher School of Law and Diplomacy at Tufts University. He is a skilled expert witness and litigation consultant with expertise in air transportation, health care and emerging market economies.
Beyer also emphasized the inspiration of the Powell Fund to magnify his philanthropic gift. The Powell Fund was established in 2013 to match gifts in support of endowed scholarships and academic initiatives dollar-for-dollar. His gift represents the first time the Powell Fund has been used to match a gift to establish a chair.
"I have always known that I wanted to leave a legacy at Pacific through philanthropy, and the Powell Match gave me the opportunity to finally make that happen," Beyer said. "It is remarkable that my gift will now have double the impact on the faculty and students because of the Powell's generosity to this great university."
The Powell Fund is reserved for matching gifts that support endowed scholarships and academic programs. In this case, the fund doubled the $2,000,000 of the Beyer gift earmarked for establishing an endowed faculty chair position.
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