Family of Byrider founder gives $5M to school

Published: .
Updated: .

The family of the founder of a Carmel-based auto dealership chain killed in an airplane crash seven years ago has donated $5 million to Indiana Wesleyan University.

The Indianapolis Business Journal reports the family of James DeVoe donated the money for a new school of business on the university's campus in Marion.

University Relations Director Alan Miller says the school already offers undergraduate and graduate degrees, but the gift creates a separate academic unit called the DeVoe School of Business. He says it likely won't mean construction of a new building.

Miller says the university plans to match the gift with another $5 million.

DeVoe was president and CEO of J.D. Byrider Systems Inc. He died in the 2006 airplane crash near Melbourne, Fla.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)