EC receives $2 million donation

Tom+Fallo%2C+college+president%2C+presents+Elizabeth+Noble%2C+who+donated+%242+million+to+the+college+to+create+the+Noble+Endowed+Chair+of+Business%2C+with+a+flower+arrangement+during+a+recognition+ceremony+for+Nobel+before+the+Grand+Opening+Ceremony+of+the+new+MBA+Building+March+6.
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EC receives $2 million donation

Tom Fallo, college president, presents Elizabeth Noble, who donated $2 million to the college to create the Noble Endowed Chair of Business, with a flower arrangement during a recognition ceremony for Nobel before the Grand Opening Ceremony of the new MBA Building March 6.

Tom Fallo, college president, presents Elizabeth Noble, who donated $2 million to the college to create the Noble Endowed Chair of Business, with a flower arrangement during a recognition ceremony for Nobel before the Grand Opening Ceremony of the new MBA Building March 6.

Tom Fallo, college president, presents Elizabeth Noble, who donated $2 million to the college to create the Noble Endowed Chair of Business, with a flower arrangement during a recognition ceremony for Nobel before the Grand Opening Ceremony of the new MBA Building March 6.

Tom Fallo, college president, presents Elizabeth Noble, who donated $2 million to the college to create the Noble Endowed Chair of Business, with a flower arrangement during a recognition ceremony for Nobel before the Grand Opening Ceremony of the new MBA Building March 6.

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Supporting academic institutions Elizabeth Noble gave back to the South Bay community by donating $2 million toward a chair endowment for EC.

“I just wanted to help academically. It (EC) doesn’t get money or funds like other universities do and it needs money like anyone else,” Elizabeth Noble said.

Noble was married to the late Joe Boyd Noble, one of the 50 distinguished almuni of EC.

Katie Gleason, Executive Director of the El Camino College Foundation, comments on Noble’s continuous support she has given to the EC campus and overall institution.

“In 2002, Ms. Noble donated a substantiate amount of $70,000 to the fine cabinetry and wood work program here at EC. She has also supported the students through Noble Scholarships,” Gleason said.

An endowment project was something that Gleason has been working on for approximately six months.

“Last year in November, it was just an idea that I was commenting to Ms. Noble and she said if there was anything she could do to help let her know,” Gleason said.

Noble decided to help Gleason with a planned gift that will as Gleason said, “start raising contributions to help affect the budget of the college.”

She said that from this 2 million dollar gift, $100,000  will generate earnings every year. The $2 million will stay invested,” Gleason said.

According to the EC Foundation plan, the donation to establish an endowed chair for EC will be take place in a permanently restricted account by the El Camino College Foundation. Net income should be paid as an annual charitable grant to EC for faculty position in the Business Department.

Not only has Noble been a gracious donator to EC but she has also been a continuous supporter of other academic institutions along with supporting her local South Bay Community.

“Ms. Noble’s husband Joe made his earnings through real estate and with that she has been a supporting philanthropist. She supports Redondo Union High School and University of Southern California (USC). The Noble’s also donated Noble Park in Hermosa Beach to preserve the greenery for the local residents,” Gleason said.

Gleason said that a private ceremony in recognition of Noble had taken place before the unveiling of the EC Mathematics, Business and Allied Health (MBA) Building.

“They give because they truly believe in what the organization does. And she has a tremendous trust in EC,” Gleason said.

 

UPDATED MARCH 25 AT 5:59 P.M.

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