A Lasting Legacy for the College of Business

“Vibrant, flexible, forward-looking, able to change with the times.” This is how Dave Raisbeck articulates his hopes for the future of the Iowa State University College of Business.

Dave, recently retired vice chairman of Cargill, Inc., the Minneapolis-based provider of food and agricultural products, and his wife, Ellen, recently committed $3 million to establish an endowed dean’s chair within the business college. The endowment provides perpetual financial support, with funds to be used at the discretion of current and future deans.

The Raisbecks have been long-time supporters of Iowa State. They established the David and Ellen Raisbeck President’s Leadership Initiative Award, and an additional gift for the Raisbeck Career Services Center in the Gerdin Business Building.

Both Dave (a 1971 industrial administration graduate) and Ellen (a 1971 graduate in family and consumer sciences) approach life with enthusiasm and optimism. Today, they eagerly devote time and resources to discovering practical ways they can help Iowa State and its students.

Dave and Ellen met in the seventh grade in their hometown of Dubuque, Iowa. Actively involved in Iowa State campus life — he was a member of Tau Kappa Epsilon, she a cheerleader and member of Delta Delta Delta — the pair began dating seriously when they were juniors at Iowa State. They married shortly after graduation.

Ellen, whose parents and sister also attended Iowa State, speaks candidly and fondly of her college years and of how those experiences helped her throughout her life. Her goal is to leave a lasting legacy for current and future students.

Dave, a thoughtful leader, believes his college years set the stage for his success in business.

“My time at Iowa State was certainly one of the building blocks in my career,” he says.

Although he studied at Iowa State at a time when there was no dedicated business college, Dave wants to assure resources are available to help the college excel and grow. As a recent leader of the country’s second-largest privately held company, he has a unique outlook on the current business environment. He knows what business students will need to be successful in the future.

“We want to make sure Iowa State students are prepared for tomorrow’s business world,” says Dave, who currently serves on the dean’s advisory council. “The best-prepared students are those who possess global knowledge and experiences. It is our single most significant challenge over the next 30, 40, 50 years. We are engaged in a global society in a way we never were before.”

The Raisbecks want to be sure their gifts not only provide perpetual financial support in the future, but that portions will benefit the business college and its students immediately.

“These gifts are extraordinary commitments to the college’s mission,” says College of Business Dean Labh Hira. “The impact will be felt for years. It reinforces our momentum and is a strong endorsement for the outstanding educational experiences we provide our students.”