$1 million alumni present will enable Kelley University, Consortium improve variety in small business training: Information at IU: Indiana University

BLOOMINGTON, Ind. — Indiana University Kelley School of Small business alumni Derica Rice and Robin Nelson-Rice want to give additional minority pupils the very same prospect they credit with assisting launch their effective occupations at Fortune 500 companies.

The couple, who achieved as MBA learners at the Kelley College in Bloomington in advance of graduating in 1990, have because supplied remarkable leadership and services to the college and the state of Indiana. Robin and Derica Rice are earning a gift of $1 million to guidance pupils who are MBA college students at the Kelley School and fellows of the Consortium for Graduate Research in Administration. Greater known as The Consortium, the countrywide corporation co-founded by the Kelley Faculty in 1966 enhances diversity in company training by merit-centered aid and mentoring for African American, Hispanic and Native American learners.

“We are honored and grateful to Derica Rice and Robin Nelson-Rice for this generous present that will deliver priceless prospects to our pupils and assistance Indiana University in its mission to reinforce variety and guarantee IU is welcoming to all,” IU President Michael A. McRobbie mentioned. “The Rice family’s extensive historical past of services to IU and the state is remarkable, and we will usually be appreciative of their amazing aid and commitment to IU.”

The Rices’ present makes the Rice Consortium Fellows system to greatly enhance variety and inclusion at the Kelley College and assistance its Entire-Time MBA System continue to appeal to several of the most effective and brightest underrepresented college students. Their generosity will guidance annual fellowships for two initial-year Consortium pupils and two 2nd-12 months Consortium students, who will be referred to as Rice Consortium Fellows. The few credits their Consortium fellowships with opening vital doorways for them, and they desire to do the exact for other deserving minority learners.

“The Consortium’s 30 by 30 strategic initiative is the major driver of our current system,” Consortium CEO and Executive Director Peter J. Aranda III claimed. “The initiative calls for each member college to achieve an underrepresented minority enrollment of 30 p.c inside of their whole-time MBA applications by the calendar year 2030 — a figure that is a lot more reliable with U.S. populace demographics. This generous gift from Derica Rice and Robin Nelson-Rice will guide the Kelley School and The Consortium with fulfilling this objective.

“At The Consortium, we are extremely grateful to the Rices for their long-expression assistance of and shown motivation to our mission.”

The Kelley Faculty will also continue to assistance The Consortium’s once-a-year Orientation Plan and Profession Discussion board in honor of Derica Rice and Robin Nelson-Rice.

“We are deeply grateful to Robin and Derica Rice for their generous assistance of this journey,” mentioned Idalene “Idie” Kesner, dean of the Kelley Faculty and the Frank P. Popoff Chair of Strategic Administration. “Their present is a fantastic case in point of ‘paying it ahead.’ The chances their reward supplies to long run small business leaders — the gift of education — provides benefits considerably, significantly larger than one particular program or college or college. It is the reward that gains complete communities.

“We have lengthy recognized the significance of elevating recognition of the rewards of assorted discovering environments and advertising an setting that is respectful and supportive of all. We identify we have a lot more do the job to do, nonetheless at the similar time, we are excited about our journey and hope these new scholarships stimulate other individuals to sign up for us in marketing better range, fairness and inclusion.”

Due to the fact earning his MBA from Kelley, Rice has invested additional than 30 a long time as a wellness care executive, which includes a 27-calendar year profession at Eli Lilly and Co. He most not too long ago served as the executive vice president of CVS Well being and president of CVS Caremark, the firm’s pharmacy advantages management business. He at this time serves as a member of the board of administrators for the Walt Disney Co., Focus on Corp. and Bristol Myers Squibb Co.

Rice was also a trustee of IU from 2007 to 2016. He serves as a founding member of the IU Black Philanthropy Circle, the university’s 1st affinity-centered offering circle that formulates packages and insurance policies to boost engagement and philanthropy in higher education to assistance Black alumni, school, workers, college students, donors and allies.

Nelson-Rice, a indigenous Hoosier, furthermore has enjoyed a satisfying occupation, like government positions in advertising at Eli Lilly and AT&T. She is a philanthropist and volunteers on a assortment of neighborhood boards and establishments, such as the Indianapolis Museum of Artwork and the Women’s Fund of Central Indiana.

This reward counted toward the $3.9 billion campaign, For All: The Indiana University Bicentennial Marketing campaign.

The Consortium

In the mid-1960s, Kelley partnered with organization colleges at Washington University of St. Louis and the University of Wisconsin to create The Consortium, with a intention of recruiting a lot more African Us citizens into MBA courses. A 1963 report identified that not one particular African American was then employed in a administration posture at a Fortune 500 business. Out of 12,000 college students enrolled in MBA systems across the place that calendar year, only about 50 were being African Americans.

Much more than 900 Consortium pupils have earned MBA degrees from Kelley because the organization’s inception. Several alumni, such as the Rices, have sophisticated to best management roles at leading American corporations, this kind of as Nike, Starbucks and ConAgra. In the previous 10 years, the Kelley Faculty has effectively recruited more than 200 Consortium learners. Nearly 600 students enroll annually in MBA programs at 20 other member universities.