December 10, 2015
Former Providence College Board of Trustees Chair Michael A. Ruane ’71 & ’13Hon. and his wife, Elizabeth Ruane, have made a significant gift in support of the College’s Department of Economics.
Their commitment will create the endowed Michael A. Ruane Distinguished Chair in Economics. Proceeds from the endowment will support this faculty position in perpetuity, allowing PC to enhance teaching, scholarship, and outreach in that discipline.
Combined with a second element, which PC will announce in detail next Tuesday, this is the largest gift the College has ever received from a living alumnus.
The Ruanes’ support for Providence College is beyond compare. This is the second endowed chair they have created at the College, along with the Michael A. Ruane Endowed Chair for Innovation in Business Education in the School of Business, to which Dr. M. Cary Collins was appointed on Aug. 1, 2013.
The Ruane Center for the Humanities, dedicated in 2013, is named for them, as is the Ruane Atrium at Concannon Fitness Center. They also have provided support for various PC programs and initiatives over decades of exemplary leadership.
“Mike, Liz, and their family once again have honored us by demonstrating their extraordinary commitment to Providence College and its future by providing this wonderful gift to support academic programming,” said Rev. Brian J. Shanley, O.P. ’80, PC’s president. “Their positive impact will continue for generations to come, and we are grateful beyond words.”
Creation of this faculty chair is one element of a multi-faceted gift the Ruanes are making to Providence College at this time. PC plans an announcement event related to the balance of this extraordinary new commitment on Tuesday, Dec. 15.