Gifts of $37 Million and $20 Million Boost Business Schools

The business school at Queen’s University in Kingston, Ontario, received a $37.6 million donation Thursday from Toronto financial-services entrepreneur Stephen Smith, The Globe and Mail writes.

The business school will be renamed for Mr. Smith, a 1972 Queen’s graduate who is co-founder and chairman of First National Financial Corporation, Canada’s largest nonbank mortgage lender, and holds leading roles with other major financial firms. The funds will go into the school’s endowment, roughly doubling its size, and support faculty positions and scholarships.

Indiana University announced a $20-million gift to its Kelley School of Business from construction magnate Conrad T. Prebys. An Indiana native and 1955 university alumnus, Mr. Prebys built a property empire in San Diego, to which he moved in the 1960s. Among other uses, the donation will endow faculty chairs, establish a scholarship program, and fund a career-services center.