In Penn State's history, there has never been a larger a donation to the Altoona Commonwealth Campus than the one Steve Sheetz, Class of 1969, and his wife gave to the university Friday.
The $2.5 million gift was the largest amount given to the Commonwealth Campus in its 70 years of operation and will expand the campus's entrepreneurial studies program.
While some of the money has yet to be allocated, Penn State Altoona Chancellor Lori J. Bechtel-Wherry wrote in an e-mail that part of the funds will go toward creating the Sheetz Fellows program, which would focus on teaching ethics and leadership principles. Sheetz is chairman of the board of Sheetz, Inc., which operates a chain of stores in more than 350 different locations throughout Pennsylvania, Maryland, North Carolina, Ohio, West Virginia and Virginia.
He will likely remain involved with the entrepreneurial studies program and wants to help mentor students, said Donna Bon, an instructor of entrepreneurship at Penn State Altoona.
In a statement posted to the Penn State Altoona Web site, Sheetz said he is eager to see how students will benefit from the programs. Bechtel-Wherry wrote that the new program represents a unique educational opportunity for students who participate.
"While all business program students gain such an education at Penn State Altoona, Sheetz Fellows will achieve an education of special ambition, depth, and distinction," Bechtel-Wherry wrote in the e-mail. "Steve and Nancy care deeply about students, and believe that the creation of an entrepreneurial center ... will provide an important educational opportunity that otherwise would not exist in our region."
Bon said the Sheetz gift will greatly improve the entrepreneurship program at Penn State Altoona and afford students with many opportunities they would not otherwise have.
"The gift will be able to give some students real world experiences," Bon said. "We're really excited to have a place were we can meet with small business owners and provide consulting."
Though this is the first time such a substantial gift has been given to Penn State Altoona, Sheetz has long been involved in improving the campus in a variety of ways.
He has been a member of the campus's advisory board since 1984 and was named a Distinguished Alumnus in 1994. He and his wife have financed several programs at the campus, including the Sheetz Family Endowed Scholarship and the Sheetz Visiting Lecture Program. Additionally, their previous gifts have helped finance the construction of the campus's Advanced Technology Center and Community Arts Center.