On Tuesday, the University of Louisville received a donation of $6.3 million from the Schnatter Foundation and the Charles Koch Foundation to create The John H. Schnatter Center for Free Enterprise in the College of Business.

“I firmly believe in the spirit of entrepreneurship and the need to equip today’s generation with the know-how to launch successful businesses through free enterprise principles,” said John Schnatter, founder and CEO of Papa John’s International.

“We didn’t get that kind of training in my day, and I’m passionate about helping ensure that those who start new businesses will now have the resources and tools they need to succeed.”

The donation will fund two tenured professors, four doctoral fellows and staff for the center. Students will be able to take classes, attend seminars and conduct research through the Schnatter Center for Free Enterprise. Stephan Gohmann, a U of L economics professor, will become the director of the center.

President James Ramsey said, “We’re honored that John and Annette Schnatter and the Charles Koch Foundation board have confidence in U of L to make this happen.”

The Schnatter Foundation gave $4.64 million and the Charles Koch Foundation added $1.66 million to the donation. Both donors have previously given funds to the University of Louisville.

Schnatter and Brian Hooks, the Koch Foundation President, presented the donation to President James Ramsey at the College of Business.

Photo by Rachel Essa / The Louisville Cardinal