Goolsby Leadership Academy Meets $3 Million Challenge
Lockheed Martin gift exceeds fundraising goal for endowed UT Arlington College of Business leadership development program.
October 8, 2009 - Today a $3 million challenge has been met at The University of Texas at Arlington’s College of Business.
Lockheed Martin gave $40,000 to establish the Lockheed Martin-Goolsby Endowed Scholarship and Program Support to benefit the Goolsby Leadership Academy in UT Arlington’s College of Business.
Lockheed Martin’s $40,000 gift along with two matches puts the college over the top of a $3 million challenge set forth by an anonymous $2 million gift made in honor of former Howard Hughes Corp. CEO John Goolsby (BBA ’64) and his wife Judy. One half of this $2 million gift was designated to fund scholarships and the other half was designated to fund faculty support. The anonymous donor required the college to raise an additional $2 million for scholarships and an additional $1 million for faculty support.
The Lockheed Martin gift will be matched by two funds to triple the size of the endowed scholarship. The gift is eligible for the Maverick Match, a University fund created to match dollar-for-dollar gifts for scholarships, fellowships and other endowments. The Maverick Match is funded by gas royalty revenues and is designed to encourage donors to create endowments for the University. The gift will also be matched with funds from the College of Business.
The Goolsby Leadership Academy is a specialized leadership development program established in 2003 for select undergraduate business majors at UT Arlington. The two-year program offers rigorous study in the areas of leadership development, management and decision-making, emotional competence, ethics, performance measurement and team building. The academy aims to instill the college’s most promising business undergraduates with the leadership values of character, integrity and courage shared by the college and by Mr. Goolsby. The endowment funds several distinguished faculty positions in the academy and provides each Goolsby Scholar with a $2,000 scholarship each year for the two-year program.
"Development of the next generation of business leaders is an essential need," said Craig Happel, Lockheed Martin’s deputy to the vice president of business ventures. "Lockheed Martin is looking to today's brightest students to one day lead with the highest level of competence and integrity. The Goolsby Leadership Academy is a remarkable institution and Lockheed Martin’s investment in tomorrow’s leaders benefits the North Texas region, the state, the nation and the global marketplace. The academy is a venture that will pay back in huge dividends."
Each year undergraduate students apply to the academy in the spring prior to entering their junior year. New scholars are selected to fill a 30-member cohort through a competitive selection process based primarily on academic performance and demonstrated leadership potential. Scholars progress through the program as a team-based unit.
“The Goolsby Leadership Academy is a step beyond the conventional business educational experience,” said College of Business Dean Daniel Himarios. “It’s a special program that cultivates the unique leadership qualities of some of our most promising students. We are grateful to Lockheed Martin’s investment in the academy, which completes the college’s $3 million fundraising challenge. More importantly, the Lockheed Martin-Goolsby Endowed Scholarship and Program Support will benefit the academy and its scholars in perpetuity.”
About The University of Texas at Arlington and the College of Business
With a commitment to life-enhancing research, teaching excellence and service to the community, The University of Texas at Arlington is the educational leader in the heart of the Dallas-Fort Worth Metroplex. The College of Business at UT Arlington is home to innovative thinkers who know business—a place where blazing new trails is the norm. The college prepares more than 5,000 students each year for their roles as leaders, innovators and influencers in the global community.
About Lockheed Martin
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.