CSU Channel Islands business school gets $10.5M infusion of funds

Staff reports

Ventura County real estate developer and philanthropist Martin V. Smith and wife Martha K. Smith in an undated photo. The couple's foundation recently announced a $10.5 million donation to CSU Channel Islands.

A foundation with a longstanding relationship with CSU Channel Islands committed another $10.5 million to bolster the university's business school.

The public university located just outside Camarillo announced the donation by the Martin V. and Martha K. Smith Foundation last week.

Already, the university's business school bears the name of the Ventura County philanthropist and real estate developer whose original bequest and donations from the family foundation had previously amounted to $8.5 million since 1999.

The total of $19 million make the family's contributions the largest to CSU Channel Islands, according to the university.

The latest round of funds will benefit the Martin V. Smith School of Business & Economics, which will use $3.5 million to finish renovating the former Manzanita Hall into the Martin V. Smith Hall with an adjoining courtyard named for wife Martha K. Smith.

The business school is expected to move into the renovated hall by fall 2022.

CSU Channel Islands officials announced this month that it received a $10.5 million donation to bolster its business school.

An endowment for the business school, seeded with the remaining $7 million, was given to "enhance the quality of the educational programming and experience for its students and faculty."

The Smiths created the foundation to support community organizations and their family continues to support CSUCI.

“I think one of the best things we have done as a family and a foundation is invest in CSUCI,” daughter Victoria Pozzi said in a news release. “Since dad’s bequest and the subsequent donations by the foundation to name the Martin V. Smith School of Business & Economics, the university has taken diligent and prudent care of our contributions."

She credited business school leaders for advancing its growth, professors and programs.

According to the university, since 2017, 56% of CSUCI alumni have said they plan to stay in Ventura County after graduation.

“The gift not only carries on my father’s legacy but contributes to the development of the area’s future business leaders who will ensure the region’s strength and vitality continues," Pozzi said.

The family and its foundation board believe the biggest impact they can make in Ventura County is through their support of public higher education and workforce development.

“After decades of philanthropic impact in the Ventura County region, including a strong focus in the Oxnard community, our family is moved to continue advancing the work of the university, one of our community’s most vital resources, and continuing the legacy that was started by my grandparents years ago,” said Stacy Cannon, Smith granddaughter and board foundation co-chair.

CSUCI Interim President Richard Yao described Martin V. Smith as "a pioneer in building the economic vitality of Ventura County." Yao said the university community is "deeply and profoundly grateful that his vision and generosity continue today.”

“The renovations in Martin V. Smith Hall and Martha K. Smith courtyard will enrich our students’ educational experience by providing numerous spaces for collaboration, hands-on learning, and opportunities to engage with our talented and dynamic faculty and industry partners,” said business school Dean Susan Andrzejewski.

CSU Channel Islands enrolls about 7,000 students. Of those, an estimated 1,000 take part in undergraduate and graduate degree programs through the Martin V. Smith School of Business & Economics.