Indiana Wesleyan University has received a $5 million gift from the family of late Indianapolis businessman James F. DeVoe that it will use to help create a new school of business on the university’s Marion campus.
The school already offers undergraduate and graduate degrees in business through its College of Arts and Sciences and Graduate School. The DeVoe gift would create a separate academic unit called the DeVoe School of Business that would encompass the university’s business programs, according to Alan Miller, director of university relations.
Creation of the DeVoe School likely would not require the construction of a new building on campus, Miller said.
The university plans to match the gift with another $5 million, which should be enough to initially establish the school, Miller said. University officials still are working through the details, and the school’s debut is at least two years away.
DeVoe, who founded the J.D. Byrider chain of used car dealerships in 1989, died in 2006 at the age of 62 in a small-plane crash in Melbourne, Fla. He at one time owned a Chevrolet dealership in Marion. He and his wife, Andrea, lived in Grant County until the mid-1990s.