April 1, 2014
Contact: Michele Sparks, Director of Communications (859) 257-0040
For Immediate Release
UK Receives $7 Million Gift Commitment From Lexington Businesswoman Joan D. Kincaid and Central Bank
University of Kentucky President Eli Capilouto today announced a $7 million combined gift commitment from Lexington businesswoman and UK graduate, Joan D. Kincaid, and Central Bank for two critical campus improvement projects focused on business education and health care.
The gift commitment, which was accepted by the UK Board of Trustees at its meeting today, will fund a new auditorium in the Gatton College of Business and Economics as part of its building redesign and expansion as well as a project to be determined in the A.B. Chandler Hospital.
“The Kincaid family name and Central Bank have been synonymous with both commerce and philanthropy in Kentucky for many years," Capilouto said. "I am grateful for this wonderful gift, which will now link these well-known names with two important initiatives at the University of Kentucky.
The new auditorium in the Gatton College of Business & Economics will assist us greatly in providing business education for future generations of Kentucky students and entrepreneurs, and the project in the A. B. Chandler Hospital will offer comfort and inspiration to patients and their families for years to come. I am very pleased to have Ms. Kincaid and Central Bank partnering with us in our important mission to provide higher education and health care to the citizens of the Commonwealth.”
The expansion of the Gatton College facility is underway and is expected to be completed in 2016. The $65 million project is being funded entirely through private philanthropy and will transform the Gatton College into a state-of-the-art business education complex designed to foster a strong sense of community, support modern teaching and learning methods, and accommodate increased enrollment.
More than $50 million already has been raised or committed to the project.
“I am deeply grateful for the generosity of Ms. Kincaid and Central Bank," said Gatton Dean David W. Blackwell. “This major gift will help us better educate our students and enhance the identity and competitiveness of the Gatton College among its peer institutions.”
The new auditorium will be named to recognize the Kincaid family and Central Bank, and it will honor Joan D. Kincaid and her late sister Jane W. Kincaid, both of whom graduated from the college in 1963 and are members of the college’s Hall of Fame.
The new facility will also memorialize their late father, Garvice D. Kincaid, and their mother, Nelle W. Kincaid. Garvice Kincaid was a UK graduate, renowned Lexington businessman, and member of the UK Board of Trustees.
The $1 million commitment to the A.B. Chandler Hospital will be commemorated after further consultation with UK HealthCare representatives and university officials.
"Great academic medical centers rely on philanthropy to achieve their dreams," said Dr. Michael Karpf, UK's executive vice president for health affairs. "The generous gifts of individuals and organizations make it possible to bring together art, science and healing in our world-class medical facility for the benefit of the people of Kentucky and beyond. I am very appreciative of the generosity of Ms. Kincaid and Central Bank, and the impact their gift will have on our patients and their families.”
The hospital initiative also will be named in recognition of members of the Kincaid family and Central Bank.
Joan Kincaid is a lifelong resident of Lexington and noted philanthropist. She has served as vice chairman of the Board of Directors of Central Bancshares, parent of Central Bank & Trust Co., and as president and chief operating officer of Lexington Finance Company.
Central Bank is a wholly owned subsidiary of Central Bancshares, Inc., in Lexington, Ky. The company’s wholly owned subsidiaries serve consumers and businesses with full-service banking, investment, mortgage, insurance and wealth management services in 26 banking offices and 31 ATMs in Boone, Clark, Fayette, Jefferson, Jessamine, Kenton, Madison and Scott counties. The subsidiaries include Central Bank & Trust Co., Central Bank of Jefferson County, Central Insurance Services and Central Investment Center. Central Bank was recently recognized as one of the Best Banks to Work For in America.