The University of Mississippi School of Business Administration is on its way to raising $50 million as part of Now & Ever: The Campaign for Ole Miss, and alumnus Bill Fry and his wife, Lee Anne, have influenced this exceptional momentum. The Frys, along with Chip and Gina Crunk of Nashville, are co-chairs of the Business School Campaign Committee.
“In 2019, we set a goal for the Business School to raise $50 million for support of the school, our current and future students and our professors. This was an ambitious goal as the Business School has never raised this amount of money, and with our enrollment growing to 5,900 this academic year, private funds are critical,” Fry said.
“Thanks to the investments of many generous givers, we have raised $47.86 million and are close to meeting our goal,” he continued. “We need to get over the finish line by June 30 (the conclusion of Now & Ever) and are committed to that success. We have raised $13.36 million in scholarship funds and now have $24.1 million in faculty-staff support, up $16.9 million.”
The Frys of Bluffton, South Carolina, and Oxford, Mississippi; committed a $4.2 million estate gift, with $4 million directed to fund two named and endowed faculty chairs in business administration, ensuring quality teaching, research and service are available for future generations of Ole Miss students. They also are members of the Campaign Steering Committee for the overall university initiative.
The couple recently began funding one of the faculty positions, the Bill and Lee Anne Fry Scholar in Business Administration, with a $500,000 gift, and their estate plans are aimed at elevating it to the chair level ($2 million) — efforts that will help meet the Business School’s campaign goal.
“We have been pleased to get to know many more of our professors through this alumni service role,” Fry said. “We have been struck by their deep commitment to our students’ success, mentorship and creativity. For example, faculty members have developed an outstanding curriculum called BASE, which focuses on sales, supply chain management and business analytics. Few universities are highlighting critical skills such as selling.
“In addition, our new Center for Insurance Transformation offers valuable insurance certificates and internships to historically Black college and university students, expanding career opportunities for Mississippians. We’re also proud that after graduation, 97.4% of Ole Miss business students are employed or continuing their education.”
Fry said the couple’s commitment to faculty support has an accelerated benefit based on the number of lives impacted — thousands of students educated, mentored and encouraged.
“In 2023, we committed an estate gift to fund faculty positions, one in our names and the other in our children’s names, the Will and Katie Fry Chair in Business Administration. After discussions with administrators, we thought there was a way for professors and students to receive the benefits of the gift well in advance of the estate settlement.”
Business Dean Ken Cyree thanked the Frys for moving ahead with the faculty support and announced John Berns, an associate professor of management, as the inaugural Fry Scholar in Business Administration.
“We are immensely grateful to Lee Anne and Bill for their enduring generosity and devoted engagement that elevates our Business School,” he said. “The Frys are among our most dedicated alumni and friends, and their ongoing investments are vital to the future of business education and the recruitment and retention of faculty with a passion for top-quality teaching, research and service.”
Berns responded: “I am honored to be selected to receive this endowed position. I work with a lot of very talented individuals — who are great teachers, great researchers and certainly deserving of such an honor — so it is truly humbling to be chosen to receive this recognition.
“I am very grateful to be a faculty member at a university where donors are so generous. I think it really shows that people are supportive of and want to be a part of the great things that students and faculty are doing here at the University of Mississippi.”
The newly named Fry Scholar, whose research focuses on entrepreneurship and strategy, explained, “The resources will help generate impactful research, garnering actionable business insights which can then be integrated into classroom lessons to better prepare students for current and future workplace challenges.”
Drew Newcomb, a UM estate and planned giving specialist, said he is proud the Frys will witness the impact of their gift.
“Lee Anne and Bill’s transformative estate gift created two future endowed faculty chairs, but they wanted to see their support in action right away. Their additional commitment to immediately fund a faculty position allows the school to reward a faculty member years before their estate gift and is an ideal example of how our supporters can create a difference now by beginning their gift and continuing it through their legacy,” he said.
A graduate of the UM public administration program, Bill Fry is a partner of American Securities, a New York-based private equity fund with over $20 billion under management. Lee Anne Fry graduated from Auburn University and serves as a board member of the Grisham-Mclean Institute for Public Service and Community Engagement. The two are also donors to Ole Miss Athletics, the Grisham-McLean Institute and the Sally McDonnell Barksdale Honors College on UM’s Oxford campus.
Gifts can be made to the Bill and Lee Anne Fry Scholar in Business Administration Endowment by sending a check, with the fund’s name written in the memo line, to the University of Mississippi Foundation at 406 University Avenue, Oxford, MS 38655; or online here.
For more information on how to support the Business School, contact Angela Brown, executive director for development, at browna@olemiss.edu or 662-915-3181.
By Tina H. Hahn/UM Development