Since its inception in 1953, the Penn State Smeal College of Business has advanced steadily, building on its undergraduate and graduate programs, executive education, and major research centers.
In 1990 Frank P. Smeal '42 and his wife, Mary Jean, provided a generous gift to form The Mary Jean and Frank P. Smeal College of Business.
At the time, the Smeals' gift to the college was the largest individual donation in the University's history. It created five endowed chairs as well as a separate endowment for program excellence. Mr. Smeal was also instrumental in creating the Goldman Sachs & Co. and Frank P. Smeal University Endowed Fellowship in Business Administration.