The University of Alabama System Board of Trustees approved the naming of the College of Arts and Sciences after University alum J. Frank Barefield Jr. Friday. Barefield made a $35 million gift commitment to the college.
“I’m very appreciative of the education I received at The University of Alabama,” Barefield said. “My goal with this gift was just to assist the University in its ability to attract and retain the top educators and students from around the world. I’m really humbled and very honored that the College of Arts and Sciences will bear my name.”
Barefield holds a bachelor’s degree in finance from the University and an MBA degree from the University of Alabama at Birmingham. He is also a certified public accountant, chartered financial analyst and president of Abbey Residential, LLC, a multifamily real estate firm headquartered in Birmingham.
“I think it marks the significance of this transformational gift and the seriousness that it will have an impact on our students and have an impact on the University broadly, but certainly on the College of Arts and Sciences,” said Stuart Bell, president of the University, calling the college the “heart” of the University’s “academic mission.”
Bob Pierce, University vice president for advancement, said the gift would be “transformative” for the college and its future, saying the gift is “fully discretionary” and will be “fully endowed.”
“That means that the $35 million is there forever generating funds to benefit the Barefield College of Arts and Sciences. With our spending policy, it will spin off about $1.5 million a year.”
The Barefield College of Arts and Sciences enrolls over 9,000 students across 80 majors, minors, concentrations and graduate programs. It is one of only two colleges at the University to be named after a donor, along with the Culverhouse College of Business.
“Mr. Barefield’s commitment to the college gives us the flexibility to act quickly, think boldly, lead purposefully, and it enables us to launch research swiftly and support top scholars and assist students in crisis and invest in bold initiatives across Alabama and the nation,” said Joe Messina, dean of the Barefield College of Arts and Sciences.
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