Chair for Rural Economic Development Established at UMC

A $1 million Chair for Rural Economic Development has been established at the University of Minnesota, Crookston (UMC) by the Dr. Frank W. Veden Charitable Trust. The announcement was made by Chancellor Donald Sargeant and Ken Broin, retired vice president at First Bank in Minneapolis and lead trustee of the Veden Trust.

The $500,000 gift from the Veden Trust will be matched with permanent University funds of $500,000 to support the $1 million chair. This is the first chair to be established at the Crookston Campus. Funds earned would generate about $55,000 a year that could be used to support the chair at UMC.

Dr. Veden’s intent was that the contribution of the funds be used for development in rural Minnesota because of his inherent belief that support of rural America is critical to young people who will assume the responsibilities of the rural economy of the future.

"Doc" Veden was born in Wadena, graduated from Detroit Lakes High School and the University of Minnesota Dental School. He had a dental practice in Fergus Falls for 54 years. It was this commitment to rural Minnesota that led to his generosity to UMC. Dr. Veden died in December of 1996.

Through a series of events, Dr. Veden met Broin, a member of UMC’s All-College Advisory Committee, and learned of UMC’s health management baccalaureate degree program. In addition to this major contribution, Dr. Veden had previously established an endowed scholarship at UMC for students pursuing degrees in health related fields.

Contact: Barbara Weiler, University Relations, 218-281-8435

Posted: 11-03-97

Back to News and Notices | UMC Home