Challenge Offers $2 Million Potential for UA’s Culverhouse

TUSCALOOSA, Ala.  — A Florida business executive has committed to match, up to $1 million, all donations made to The University of Alabama Culverhouse College of Commerce before year’s end.

Hugh Culverhouse Jr., a Coral Gables, Florida resident, has pledged to match the donations by further contributing to student scholarships through the Eliza and Hugh F. Culverhouse Student Assistance Scholarship Fund, an endowment he and his wife established in 2013.

“Hugh and Eliza Culverhouse are wonderful friends of The University of Alabama,” said UA President Stuart R. Bell. “Their generous support of our students is continuing to make a powerful difference.  We appreciate their creative and long-standing support.”

With the commitment, outright gifts, including initial payments on new pledges, made for any purpose to the College before Dec. 31 will be matched by Culverhouse, whose father, Hugh Culverhouse Sr., is the College’s namesake.

Each year, through the Culverhouses’ philanthropic efforts, a number of UA students are selected as Culverhouse Scholars and are awarded scholarship support. These scholars are commonly known as members of the “Two Iron Club,” a reference that evolved from a conversation with Hugh Culverhouse.

“I’ve seen, first-hand, the impact this scholarship support has on our students,” said Dr. Brian Gray, interim dean of UA’s Culverhouse College of Commerce. “It’s a life-changing experience for them. The addition of this challenge gift will further enhance the Culverhouse Scholars program for some of our most deserving students.”

The matching gift challenge is one of several Culverhouse has offered as a way of motivating others to give to UA.

In March 2014, Culverhouse gave the second of two $1 million gifts for student scholarships, pledging to match future gifts. UA alumni Gary and Nancy Fayard gave $1.5 million to the business college to create the Fayard Endowed Chair in Accounting, and Culverhouse matched that gift.

Culverhouse later gave $250,000 to the Crimson Tide Foundation to endow a women’s golf scholarship in honor of his mother, Joy McCann Culverhouse, who starred as a UA golfer in the early 1940s. At the time of that gift, Culverhouse issued a challenge, pledging to double his donation to the program if others would respond to his gesture by donating gifts of their own totaling $500,000.

Within six months of that challenge, supporters made gifts and pledges totaling more than $510,000 in support of scholarships for the Crimson Tide women’s golf program. And, Culverhouse matched his original commitment with another $250,000 gift.

Culverhouse is the chief executive officer and owner of Palmer Ranch Holdings, a planned community encompassing some 10,000 acres in Sarasota County. He is also the principal in Culverhouse Limited Partnerships and invests in real estate, securities and hedge funds. He and his wife, Eliza, are known for their philanthropic efforts.

To participate in the matching gift challenge supporting UA’s Culverhouse College of Commerce, contact Hill Rowan at 205/348-5815 or hrowan@culverhouse.ua.edu before Dec. 31.