Salve Regina University has received a $12 million gift from the Jean and David W. Wallace Foundation, marking a significant investment in the university’s business and economics programs.
The donation establishes the Jean and David W. Wallace Department of Business and Economics and funds the Anita and Robert R. Young Department Chair within the newly named department. The endowment will support student and faculty participation in conferences, competitions, economic impact studies, and entrepreneurial initiatives. It will also provide new experiential learning opportunities for all students through the Salve Compass program.
With this latest contribution, the Wallace Foundation has donated more than $24.6 million to Salve Regina over multiple generations, making it the university’s most generous benefactor. The university’s business and economics program is one of its fastest-growing, serving 27% of the student body.
The naming of the department chair honors Anita and Robert R. Young, who were longtime neighbors to Salve’s historic campus and played a key role in fostering the Wallace family’s involvement with the university.
Anne Wallace Juge, a Salve trustee, and Mary Wallace Strizek, foundation co-presidents, designed the gift to recognize their parents’ dedication to the university’s mission.
“We are grateful to recognize our parents and the Youngs together with Salve’s expanding business and economics department. It is an honor to be serving on the Salve board,” Juge said.
Strizek noted, “Our father considered Robert Young a dear friend and mentor, and our families remained close throughout their lives. We are so pleased to honor them together in this way at Salve and know they would be proud to be part of the accomplishments of new generations of Salve students.”
In addition to strengthening the Business and Economics Department, the donation supports the Salve Compass Program, a four-year initiative designed to prepare students for career success with hands-on learning experiences.
“The value of the Wallace family’s gifts to the university cannot be overstated. We would not be where we are without them,” said Salve President Kelli J. Armstrong. “This latest gift will help us strengthen the Business and Economics Department with lecture series, scale up our experiential learning, support faculty projects and stay up to date on the needs our students will fill for communities when they graduate. It positions us to provide opportunities that build real-world readiness for all.”
The university plans to implement the initiatives immediately, ensuring students and faculty benefit from expanded opportunities in the coming academic years.
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