Education
3:16 pm
Fri December 17, 2010

NC State Receives $40 Million Gift

NC State has received the largest gift in the University's history. Lonnie and Carol Johnson Poole have given $40 million, most of it to the College of Management.

Lonnie Poole is a graduate of NC State and founded Waste Industries USA in 1970. He led an investor group that took the company private for $550 million in 2008.

$37 million of Poole's $40million gift will go to the College of Management at NC State. That school will now be named for him. $2.5 million will go towards building a clubhouse at the university's golf course.

The gift to the College of Management will go into the endowment. It will be used to pay for scholarships and faculty salaries.