A generous gift: Local couple bets big on UNLV

Ted and Doris Lee have given a gift that will keep on giving.

Their $15 million donation to UNLV, announced Thursday, will create endowments for 10 new business professors and scholarships worth up to $15,000. The contribution, one of the largest in UNLV history, also will support a visiting professor program and a lecture series.

"This gift has the capacity and capability of almost instantly changing the national reputation of this university," UNLV President Neal Smatresk said.

Yes, the donation certainly does that. But, looking forward, it's almost impossible to determine how many lives might be improved because of the Lees' generosity.

The new professors and scholarships promise to lure promising business students away from other universities, and compel more local scholars to stay here. Of those, how many future business leaders and entrepreneurs might earn diplomas from UNLV, then introduce products and services that conquer the marketplace?

In improving the lives of customers everywhere, how many jobs might they create? How many investors might they make wealthy? And how much future good will and attention might their successes generate for UNLV?

"We made this gift as a beginning," Mr. Lee said Thursday. "The possibilities for UNLV are immense," adding that a superior education is invaluable because, unlike precious jewels or piles of cash, "no one can steal it from you, and you can't lose it."

The Lees were free to spend their wealth however they liked. They could have given it to any charity, foundation or institution. They had donated money previously to Harvard University, where Mr. Lee earned a degree.

But they chose to keep the money here and make an enormous investment in the human capital of Las Vegas, a city that will need more great business minds and community loyalists to regain the vibrancy it has lost in this ongoing economic downturn.

"Their gift is really a gift to this community, this city," said the Lees' son, Greg, who serves on the board of the UNLV Foundation.

Las Vegas thanks Ted and Doris Lee for believing in UNLV and Southern Nevada.