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Following gifts which now total $50m from the Foster Foundation, the University of Washington business school is to be renamed the Michael G Foster School of Business.

The Foster Foundation, founded by Michael Foster and his parents in 1984, is a family foundation that works to improve community life for present and future generations of the northwest US.

The foundation has a 25-year history of supporting the school. James Jiambalvo, dean of the business school, says the foundation’s recent donation of $36.5m will allow the school to compete for top faculty and offer scholarships to students.

“We are now much closer to becoming one of the premier programmes in the country thanks to this exceptionally generous gift,” he says.

The University of Washington board will meet to approve the name change later this month.


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