From Lincoln Hall to Memorial Stadium and beyond, countless renovation projects and a significant amount of new construction continue to strain the University’s already tight budget. With state funding increasingly hard to come by, many have started to wonder where all the money will come from.

Last month, the College of Business received an answer to this question in the form of a $30,000 check from Grant Thornton LLP, the Chicago branch of a global accounting firm. The sizable check represents only the first installment of a $300,000 donation to be made over the next decade. All of the money will be used to help construct the University’s new Business Instructional Facility, which should be completed by the summer of 2008.

“The University of Illinois has been an outstanding partner for recruits and thought leadership for Grant Thornton over the years,” said Warren Stippich, a Grant Thornton representative and University alumnus who presented the check on behalf of the firm. “We wanted to demonstrate our commitment to this fine institution. Beyond the importance to Grant Thornton, the U of I is a leader in the accounting, finance and other business areas that positively impacts society, professional walks of life and the state of Illinois.”

Stippich, who helped coordinate the firm’s partnership with his alma mater, indicated that Grant Thornton makes similar contributions to nearly 100 colleges and universities across the country. These investments are designed to facilitate the collegiate study of business and also generate interest in the firm among students, some of whom are then actively recruited for employment.

“We want to see the continued growth of the U of I, specifically the College of Business,” Stippich said. “Our investment helps, in one way, the College realize its plans related to the new Business Instructional Facility.”

According to a press release, the new building will house classrooms, counseling centers, a 300-seat auditorium, a recruitment suite, student program offices and a number of places for students to study. Like many of the new facilities constructed on campus in recent years, the facility did not receive any public funding and is instead paid for entirely by student tuition and gifts from alumni and corporations such as Grant Thornton. Because of their contribution, Tina Howard, assistant dean of development for the College of Business, indicated that there will probably be a classroom named after the firm in the completed building.

“As the College of Business continues to strive for excellence and innovation, the partnership between Grant Thornton and the College remains a critical component to our future achievement,” Howard said.

Howard expressed gratitude for the financial gift that Grant Thornton has pledged to the University, and sees this initial check as the beginning of a good working relationship.

“We are thrilled with their investment and confidence in the College,” she said.