Yesterday it was announced in the Memphis Business Journal that the estate of Patricia T. Ring, wife of the late Bob Ring, was to make a $1 million donation to the University of Memphis.
As regular readers will know, we love to look into the relationships behind philanthropic donations. Let’s start with Patricia Ring, who also passed away earlier this year. Her relationship with the school is evident in the fact that in January, the University of Memphis and Ring established the Ring Companies Chair which is to be awarded to distinguished scholars and teachers at UM’s engineering department.
Bob Ring, in whose honor this most recent gift was made was the founder of Ring Container Technologies, and his son Carl explained that ““For four decades, Ring Container Technologies has benefited from the support of the faculty, staff and graduates of the Herff College.” Carl Ring’s comments reveal that, aside from a rapport with the Ring family itself, the company also has close ties to the school.
A quick connections report run through Prospect Visual confirmed this by showing that the CFO and Executive Vice President of Ring Container Technologies, Tim Whalen, also has some strong connections to UM constituents through mutual roles at International Paper Co.
All this shows how important it is for universities to build and nurture relationships within their community. When connections such as these turn into the kind of relationship that the Ring family and Ring Cos. have with an institution, generous support and patronage becomes a natural part of the process.