The donation is the largest ever made to UofL by a person and also is believed to be the largest outright gift to any Kentucky college or university.
“This is an incredible gift,” Ramsey said, explaining that UofL intends to leverage it “so that this gift of $25 million becomes $100 million” through matches. “We’re going to take this and multiply it to keep the university moving forward.”
Frazier put no stipulations on the money’s use.
“To me it was appropriate to have the grant outright to the university and not put any tags for uses on the funds,” he said.
Frazier, immediate past president of the UofL Board of Trustees, holds degrees in law and business administration and an honorary doctorate from UofL. He is the great-grandson of George Garvin Brown, who founded Brown- Forman Corp., one of the world’s largest wine and spirit companies.
“The University of Louisville is my alma mater, as well as my father’s and brother’s,” he noted. The university “makes me proud every day” through its economic impact on the region.
“I give to the University of Louisville because I love it. … I urge others to give to the university. Doing so will support generations to come.”
Ramsey praised Frazier, calling him a personal mentor and friend and great friend to the city of Louisville, higher education and UofL.
“We thank you for your incredible leadership to this university,” Ramsey said, adding that Frazier’s support is instrumental in helping UofL achieve its state mandate to be a premier research university.
Faculty Senate chair and trustee Bob Staat lauded Owsley Frazier and other members of his family for “their incredible generosity.” Their support “is appreciated by us all and is an outstanding community service.”
The new gift brings to nearly $50 million the amount Frazier and his daughters have given to UofL. In September, UofL named its College of Business building after Owsley’s brother, the late Harry Frazier.
So far, UofL has raised $582 million toward the $1 billion goal set for its comprehensive fundraising campaign, “Charting Our Course: a Campaign for Kentucky’s Premier Metropolitan Research University,” which Frazier co-chairs.