In March 2007, George '66 and Susan Beischer announced an extraordinary pledge. The Beischers agreed to match donations of up to $1 million raised to support the UNC Center for Banking and Finance between July 1, 2007 and June 30, 2010. In light of the economic crisis, the Beischers extended their challenge period by one year to June 30, 2011.
The Beischer family, George, Susan, and their son David, attended Carolina Law's annual William Horn Battle Society dinner on April 15, where the successful completion of the Beischer Challenge was announced. The Beischers contributed $1 million as a match for the $1.1 million in cash, gifts, multi-year pledges and documented planned gifts received by the center since the challenge began.
A condition of the Beischers' gift was that the center be named for Lissa Broome, Wachovia Professor of Banking Law and the founding director of the center, when she eventually decides to step down from her position as director.
The Beischers' decision to support the center was driven by George Beischer's involvement with the banking industry and the center, where he has served on the board, the Banking Journal Scholarship Committee and as a practitioner-in-residence.
Beischer is also the owner and president of Garden View Realty and, in 2000, Beischer collaborated to establish Cardinal State Bank, a community bank with branches in Durham and Hillsborough, N.C. In 2006, he helped establish KeySource Commercial Bank.
"I am incredibly honored that one day the center will bear my name," Broome wrote in thanking the Beischers for their matching gift. "I pledge to be sure that the center continues to evolve and thrive so that it will be something we are all proud to have had a hand in creating and sustaining."
Significant gifts that were given as part of the Beischer Challenge include:
- The Adam and Lissa Broome Current Use Fund for the Center for Banking and Finance
- The Anthony Gaeta Jr. Scholarship
- The Cadwalader, Wickersham & Taft Discretionary Fund for the Center for Banking and Finance
- The Clearing House Fund
- The Hunton & Williams Lecture/Speaker Series
- The James D. Renger Discretionary Fund
- The Moore & Van Allen Fund
- The New York Lecture Series, made possible through the generosity of the Clearing House
- The N.C. Community Bank Fund
- The Robin L. Hinson Fund
- The William D. Spry, Jr. Family Distinguished Professorship
- The Williams Mullen Fund for the Center for Banking and Finance
- The Winston & Strawn Fund
- The Womble Carlyle Fund for the Center for Banking and Finance
- An additional gift to the Bank of America Center for Banking and Finance Fund
- Numerous gifts to the Center's general endowment and the CLE Banking Institute Fund