School of Industrial Engineering and Management 
College of Engineering, Architecture and Technology,  Oklahoma State University
Endowment Goal Update #7

In December 2014, IEM launched an ambitious strategic plan that involved increasing the endowment from $2 million to $20 million. As can be seen from the above chart, we have made progress towards our goal and have raised $8.27 million so far, including deferred gifts.
In this update, we highlight a generous deferred gift of $500,000 from Rick and Sandra Webb. You may recall Rick and Sandra also recently named the IEM Student Center in the 3rd floor of Engineering North, which is currently under renovation.

As outlined in the Next Five Generations vision, available on the IEM website, IEM has been fortunate to have had the resources and the support that have made it possible to recruit, train, and produce leaders such as Rick in our society. As beneficiaries of that support, Rick and Sandra believe it is now their turn to ensure that IEM continues to produce the same caliber of leaders that are needed in academia, government, and industry alike.

Rick and Sandra, on behalf the entire IEM family, I thank you for your support of IEM via your leadership activities as Chair of the IEM Industrial Advisory Board, member of CEAT's Strategic Advisory Council, financial contributions, as true and loyal friends, and in a variety of other roles.

Rick and Sandra Webb

About Rick Webb
Rick is the Cofounder and Director of Grit Studios, a high-impact entrepreneur support organization that is focused on providing qualified entrepreneurs with access to investor, mentor and problem solving resources. He has a passion for impactful startups, STEM education and creating a collaborative, innovative business environment.
Rick graduated from Oklahoma State University with a BS in Architecture, and MS and PhD in Industrial Engineering & Management. After graduation, he formed his first consulting firm-Webb & Shirley-that focused on retail operations improvement and worked with many of the nation's largest retailers.  
Rick joined Walmart in January 2004 after more than 20 years of consulting in the retail industry.  His last position at Walmart was the Senior Vice President of Global Business Processes, responsible for increasing associate and inventory productivity, while enhancing the customer shopping experience and increasing the effectiveness of the Walmart supply chain and home office operations around the world.
In 2009, Rick was selected for the Sam M Walton Entrepreneur of the Year Award, a leadership award selected by the Walton family. In 2013, Rick was elected into the OSU College of Engineering Hall of Fame. In 2015, Rick was the recipient of the Institute of Industrial and Systems Engineer's Champion of Industry award, awarded to industry leaders who have had significant impact to their companies and the engineering discipline. In 2017, Rick was selected to the OSU School of Industrial Engineering's Cowboy Academy, a small group of alumni who have made measurable impact to the industrial engineering discipline and the global business environment.
Rick is a Board Member for the NWA Children's Shelter, the Greater Bentonville Chamber of Commerce and the NWA Tech Council. In addition, he is an advisor to a number of businesses and university leaders.
"We chose to give this gift because we are passionate about young people learning the skills and having the experiences that create impactful contributors to our business communities."

Giving Opportunities
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Benefits of an Endowment

The $20 million endowment  being sought will greatly assist IEM in its mission to develop a diverse group of professionals and leaders in industrial engineering and management.

Many alumni and friends of IEM have demonstrated their support to the School through outright gifts of cash and appreciated securities. While these gifts are important and straightforward to make, other methods of support that may not be well known but equally important for our future, exist. There are many estate planning opportunities available through the OSU Foundation that can help transform the School and have a significant impact on its current and future students.

Proper planning can help donors and their families realize the greatest benefits from their gifts to benefit the School. This involves choosing the best combination of assets and vehicles to accomplish charitable, financial, and estate planning objectives. In addition to, or in lieu of making a cash or other outright donation, such provisions may be in the form of bequests, trusts, annuities, life insurance, retirement plans, or other means.

When realized, these gifts often are larger than the donor could ever imagine at the time of their creation. It is a wonderful way in which to create an enduring legacy for the School's benefit. Working in conjunction with you and your professional advisors, the OSU Foundation can help you explore the many opportunities available to best suit your needs and goals. 

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