Cal Poly San Luis Obispo Gets $15-Million Donation
The founder of Kinko’s photocopying centers has donated $15 million in company stock to Cal Poly San Luis Obispo, the largest single gift of cash or stock to any campus in the California State University system.
In exchange for the Kinko’s stock, Cal Poly will rename its business school after Paul J. Orfalea, who launched the company in 1970 with a single copy shop near UC Santa Barbara. Kinko’s, which got its name from Orfalea’s curly red hair, is now a worldwide chain of 1,100 stores.
Orfalea, who graduated from USC, said he and his family donated the money to recognize how well Cal Poly helps its students prepare for the business world.
The gift will set up the Orfalea Family Endowment for Excellence. Earnings from the endowment will provide student scholarships and help the business college with its initiatives in entrepreneurship, globalization and technology.
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