The Craig School of Business at Missouri Western State University has benefited from a real-life example of a business concept taught in its classrooms: asset appreciation.

In a news relese, the school announced the value of the largest individual gift in the history of Missouri Western State University has grown to 140 percent of the amount pledged.

 

Steven L. Craig, founder and CEO of Craig Realty Group of Newport Beach, Calif., pledged $5.5 million to the Missouri Western State University Foundation in 2008 to establish the Craig School of Business. Most of the gift was in the form of shares of ownership in Woodburn Company Stores, a shopping center in Woodburn, Ore. The sale of that shopping center was completed earlier this month. With the sale of the property, and more than $2.5 million in distributions prior to the sale, the total value of Craig’s gift has soared to $7,738,589.20.

“It’s fitting that the entrepreneurial spirit Steve Craig is helping to nurture in our students has made the largest gift in Missouri Western’s history even larger than anybody anticipated,” said Dr. Robert Vartabedian, Missouri Western’s president. “I applaud his creativity and thank him for his generosity.”

“I am grateful that Missouri Western is embracing the entrepreneurial ideals that can have long-lasting economic and personal benefits. My dream is for this gift to elevate not only the university but the entire northwest Missouri region,” Craig said. “I am especially appreciative of the dedicated leadership of Dr. Vartabedian.”