The College of Business has a new name and a record $10 million dollar donation.
At the conclusion of USF’s Board of Trustees meeting on Thursday Sept. 4, the largest single donation in the university’s history was given by 78-year-old entrepreneur, Kate Tiedemann.
With approval from the Board of Trustees, the college’s name was officially changed to the Kate Tiedemann College of Business. Only a handful of business schools across the U.S. are named for women.
This donation could help the university establish its own identity, but could also attract more students to the the College of Business.
Instead of funding the construction of the university’s new building, the money will be split. Divided, about $4 million will be used for advancing academic content for the college and $6 million for financial income support, according to a report from the Tampa Bay Times.
Part of the reason Tiedemann chose to donate to USFSP was her close relationship with Regional Chancellor Sophia Wisniewska. Tiedemann and Wisniewska, who were both immigrants, instantly bonded over their similar upbringings.
In 1955, at 18 years old, Tiedemann immigrated to New York from Hamburg, Germany with $30 in her pocket and little education. Tiedemann never went to high school or college. All of her experience and further education came from on-the-job training.
She created her first business in 1975, Katena Products. The company designs and sells instruments to ophthalmic surgeons all over the world, and was sold to Cortec Group in 2009.
Tiedemann said being able to give back is a wonderful feeling. She wants to create an opportunity for the students, one that she never had.
“I hope that they will have fun learning at this college, and will go forward into the world and create their own things like I did,” Tiedemann said. “But it will hopefully be easier than the way I had to do it.”
Plans are still in place to transform the Piano Man building, 140 7th Ave. S into the new home of the College of Business. The total estimated cost of this project is $30 million and is estimated to be completed by Fall 2016.
Information was gathered from usfsp.edu and the Tampa Bay Times.
