Hobby Lobby pledges $10M to Florida school
BY SHANNON MUCHMORE World Staff Writer
Thursday, January 29, 2009
1/29/09 at 2:10 PM
An Oklahoma chain store run by the family of Oral Roberts University Board Chairman Mart Green has donated $10 million to the Florida university where Green found ORU's recently announced president.
ORU named Southeastern University President Mark Rutland to its top post at ORU on Wednesday. He will start July 1 after 10 years at Southeastern.
Green's family donated $70 million to save ORU from mounting debt. His principles of shared governance and financial transparency have helped the school refocus on its mission.
The donation to Southeastern is through Hobby Lobby, which the family founded along with Mardel, a Christian bookstore and office supply chain.
It will be paid over the next five years in $2 million increments.
In a letter to Southeastern trustees, Green said he was moved to make the contribution after visiting the university's Lakeland, Fla., campus.
“As a result of recent visits to the campus of Southeastern University, we are impressed with the vibrant programs of Christian higher education and the beautiful facilities and campus,” he said. “It is our hope that the financial assistance will only increase SEU’s current financial strength. “