A multimillion-dollar gem of a gift to Utah Valley State College has prompted the Board of Trustees of that institution to rename the Learning Resource Center.
The new name is the Richard D. and Joann B. Losee Learning Resource Center."We think this is an appropriate tribute to the outstanding support Dick and Joann Losee have given to our college," said President Kerry D. Romesburg in accepting the surprise gift.
"They've always been strong supporters in a variety of ways. Dick's band always provides the music for our President's scholarship ball - the largest fund-raising event we have," said Romesburg. "This is extraordinary. This is the largest gift this institution has received to date and probably the largest one to a two-year college in the state."
School officials will not disclose the exact amount of the gift.
The gift is currently in an estate trust, said Romesburg, and will be held as a perpetual endowment once it comes to the college.
"All our working lives we have loved and worked with the students of this valley. We are excited to know this gift will benefit them perpetually," said the Losees.
"We have always loved learning, and we can think of no better place to make this gift," they said.
"We are glad we can repay the people of the valley in this way."
The Losees are lifetime residents of Utah Valley and co-owners of Alard & Losee Jewelers in Cottontree Square. They have been involved in jewelry retail for decades. Richard Losee is also known as a collector of classic cars.
The Learning Resource Center is the campus centerpiece, said Val Peterson. It houses the college library, the learning enrichment center, the college media center and the center for teaching excellence.
In a spring ceremony, the naming will become official, said Peterson.
"We think it fitting this very large gift be the crowning jewel in the Losee's giving history," added Romesburg.