Krause Family Commits to Kinnick Renovation
Sept. 10, 2004
W. A. and Nancy S. Krause of West Des Moines have made a $5 million gift commitment on behalf of their family to the University of Iowa Foundation, providing leadership in the fund-raising campaign supporting the renovation of the UI's Kinnick Stadium. The UI announced the gift today at a news conference at the UI Athletics Hall of Fame.
W. A. "Bill" Krause, a 1957 graduate of the UI School of Journalism and Mass Communication in the College of Liberal Arts and Sciences, is the co-founder and CEO of Krause Gentle Corp. of West Des Moines, which owns and operates more than 420 Kum & Go convenience stores throughout the Midwest.
UI President David J. Skorton hailed the Krauses' generosity, saying they serve as an example of the impact alumni and friends can have on advancing the UI's mission.
"This extraordinary gift from the Krause family goes a long way toward helping the UI meet an important goal: the university's continued service for the people of Iowa," Skorton said. "The Krauses' generosity reminds us that the UI enjoys tremendous support from people whose lives the university has touched. On behalf of the entire university, I extend my sincerest gratitude to Bill and Nancy Krause and their family."
UI Director of Athletics Robert A. Bowlsby said the gift, representing half of the initial $10 million goal for outright private gifts in the Kinnick Stadium Campaign and equaling the largest gift ever made in support of UI athletics, is a landmark event for the university's athletics program.
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"Bill and Nancy Krause have long been among the Iowa Hawkeyes' most generous and committed contributors and volunteers," Bowlsby said. "They have helped transform Iowa athletics into one of the top programs in the nation. The W. A. Krause Family Weight Room in our practice facility has been an important factor in the football program's growing success, and this leadership gift for the Kinnick Stadium Campaign is an even greater indication of the Krauses' dedication to Hawkeye football. We couldn't be more grateful for the entire Krause family's support."
UI head football coach Kirk Ferentz said the gift will significantly enhance the game-day experience at Kinnick Stadium.
"My gratitude to Bill and Nancy is on behalf of everyone involved in the intercollegiate athletics program at the University of Iowa," Ferentz said, "especially the Hawkeye fans who will benefit most from the improvements made to Kinnick Stadium as a result of the Krauses' generosity. The Krauses have shown their commitment to the Iowa Hawkeyes' success through their strong leadership in the Kinnick Stadium Campaign."
Bill Krause, who received a UI Distinguished Alumni Award in 2000, said the gift is an expression of his belief that his experiences as a UI student, including his membership in Sigma Alpha Epsilon fraternity and as part of the UI football program, have been essential to his career and personal success.
"As a student, I was a manager of the Iowa football team for Forest Evashevski," said Krause. "I saw up close the integrity and excellence of the UI athletics program and how that reflected the university's values, and I took those lessons with me after I graduated. This gift is a way of saying thanks on behalf of my family to the UI and the Iowa Hawkeyes.
"I founded the Kum & Go convenience store chain with a belief that customer service is paramount," Krause added, "so Nancy and I are enormously pleased to help support Bob Bowlsby's and head football coach Kirk Ferentz's efforts by improving the game-day atmosphere at Kinnick Stadium so every Hawkeye fan can enjoy the games even more."
The Krauses have contributed to UI athletics for 41 consecutive years. In 1993, the couple committed $500,000 to the Hawkeye Horizons athletics facilities campaign; the W. A. Krause Family Weight Room in the Richard O. Jacobson Athletic Building is named in recognition of that gift.
Bill Krause is a member of the National I-Club board of directors. He served as president of the National I-Club twice, in 1968 and 1971, and the group named him "Hawk of the Year" in 1993. He also co-chairs the committee coordinating the athletic program's initiatives within the UI's comprehensive "Good. Better. Best. Iowa" campaign.
All three of Bill and Nancy Krause's children and their spouses have earned degrees from the UI. They include (UI degree information in parentheses): Kevin W. (1982 B.B.A., 1985 J.D.) and Mary M. (1984 B.S.) Krause of Davenport, Iowa; Kyle J. (1985 B.B.A.) and Sharon S. (1994 M.B.A.) Krause of West Des Moines; and Kathryn K. "Kate" (1989 B.A.) and David C. (1992 B.G.S.) Prange of Chicago.
Kevin Krause--who served as "Herky" at Iowa football games during his undergraduate years at the UI, including the 1982 Rose Bowl--is president of the Minor League Baseball team Swing of the Quad Cities. He will be president of the National I-Club during the 2005-2006 term, the first time that a son of a former National I-Club president will assume the post.
Kyle Krause is president of Kum & Go; owner and president of Solar Transport, the largest Iowa-based refined fuel transporter; and owner of the Des Moines Menace, a soccer team in the Premier Development League.
Kate Prange--the founder and owner of Shop Girl, a noted Chicago fashion boutique--is a fashion stylist for the popular television series "A Makeover Story" on the TLC cable network and has dressed celebrities such as Julia Roberts, Gwyneth Paltrow and Courteney Cox Arquette. Her styles will also be included in the upcoming Warner Bros. Pictures film "Ocean's Twelve."
The Krauses have 12 grandchildren, including A. J. Krause, who is continuing the family's UI tradition as a freshman during the 2004-2005 academic year.
Bill and Nancy Krause support a number of UI programs, including the UI Henry B. Tippie College of Business, where they established the Krause Faculty Fellowship and created the Krause Challenge, an educational investment-management program that operates in collaboration with other Iowa universities. Bill and Kyle Krause teamed to give the commencement address at the UI Henry B. Tippie College of Business in May 2001.
In recognition of their longstanding philanthropic leadership, the Krauses are members of the Presidents Club of the University of Iowa, which recognizes the UI's most generous contributors; all three of Bill and Nancy Krause's children and their spouses are also Presidents Club members.
The five largest gifts supporting UI athletics are from: the Krauses, $5 million in 2004; Russell A. and Ann Gerdin of North Liberty, Iowa, $5 million in 2002; Roy G. Karro of Northville, Mich., $3 million in 1999; the late Arthur E. Stanley of Gainesville, Fla., $2.8 million in 2002; and the late Roland M. and Esther H. Smith of Iowa City, $1.8 million in 2001.
The Kinnick Stadium Campaign is being conducted for the UI under the guidance of the UI Foundation. The $87 million stadium-renovation project is receiving no public funding, either through state appropriations or UI tuition and fees. The UI Foundation is raising at least $10 million in outright gifts for the renovation, as well as securing gifts that qualify donors for suite and club-seating privileges in a new press box/hospitality facility. The project is scheduled for completion by the beginning of the 2006 football season.
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The Krause gift to the Kinnick Stadium Campaign is part of the UI's $1 billion comprehensive campaign, which will run through 2005 and is being conducted under the guidance of the UI Foundation. Named "Good. Better. Best. Iowa: The Campaign to Advance Our Great University," the seven-year effort is raising private funds to help launch a variety of initiatives across the university, substantially increase the number of UI scholarships and endowed faculty positions, support new educational and research facilities, build the UI's endowment and fund outreach and service programs to benefit Iowans.
The UI acknowledges the UI Foundation as the preferred channel for private gifts that benefit all areas of the university. For more information about the "Good. Better. Best. Iowa" campaign, click HERE.