News Headlines > Oil men’s $1m for Catholic school

20 November 2013 | by Michael Sean Winters

Oil men’s $1m for Catholic school

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The Catholic University of America (CUA) announced that the Charles Koch Foundation has donated US$1m (£630,000) to its new Business School for research into “principled entrepreneurship”. The money will fund three visiting professorships and a “visiting scholar-practitioner” from the business community.

Charles Koch, and his brother David, inherited a chemical and oil refinery business from their father and have donated millions of dollars to conservative and libertarian causes over the years. Charles Koch helped found the libertarian Cato Institute in 1977 and David Koch was the Libertarian Party’s Vice-Presidential candidate in 1980. The two brothers have also funded efforts to question climate change science.

“This grant is a significant boost to our new school and will greatly support our efforts to integrate virtue into our research and training,” said Andrew Abela, Dean of CUA’s Business School, which was established earlier this year.

The school also received a grant of US$500,000 from another conservative donor, the Busch Family Foundation, to fund the research. “Catholic University is well-positioned to reach business leaders as well as scholars,” said Timothy Busch, who also serves on the CUA Board of Trustees. “I am excited about the potential impact of the University’s research to advance principled entrepreneurship in society.” 

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