Former Educational Foundation Board Chairman Jerre Stead, and his wife Mary Joy, make $25 million commitment to Iowa Children’s Hospital
Jerre and Mary Joy Stead, natives of Maquoketa, Iowa, and residents of Scottsdale, Arizona, have committed $25 million to children’s medicine at the University of Iowa. The Steads’ support will help complete the new UI Children’s Hospital facility and spur new advancements in children’s medicine at Iowa by supporting faculty, staff and researchers who are making new discoveries, improving education and patient treatments and increasing understanding and awareness of pediatric diseases.
In honor of the Stead’s extraordinary commitment to children’s medicine at the University of Iowa, the University of Iowa requested that the Board of Regents, State of Iowa approve the university’s request to rename UI Children’s Hospital the “Stead Family University of Iowa Children’s Hospital.” The Board of Regents unanimously approved the naming in its meeting today. The new name will take effect in November 2016 with the dedication of the new UI Children’s Hospital building.
“Mary Joy and I and our family—our sons, Jay and Joel, and our grandchildren—believe that philanthropy is the opportunity to help great people do great things,” says Jerre Stead. “And we believe the people of UI Health Care set Iowa apart in children’s medicine. With the new UI Children’s Hospital building, the doctors, nurses, staff and researchers at UI Health Care will be able to continue to deliver the highest level of teaching, care and research. Our family is honored to be a part of this hospital and this university.”
Jerre and Mary Joy Stead began giving to the University of Iowa more than 30 years ago, and their cumulative support totals $53.9 million. In 2013, the UI named the Stead Family Department of Pediatrics in honor of the couple’s generous gifts to children’s medicine. The Steads have supported other areas of the university as well. In 2003, the Steads committed $25 million to the UI Henry B. Tippie College of Business—of which Jerre is a 1965 graduate—to support a variety of initiatives, including the Stead Technology Services Group, a full-service computer lab and technology consulting group.
Over the last decade, the Stead’s also have been very consistent and generous donors to the Lambda Chi Alpha Educational Foundation.