To meet the need for management training in technology, an Industrial Management degree was established in 1934, with a master's degree in the subject becoming the first professional management degree offered in the state 11 years later.
On November 6, 2009, College of Management received a $25 million donation from an anonymous donor, who would later come to be identified as Ernest Scheller, Jr. Twenty million of the sum was used as a 1-to-1 challenge grant designed to inspire charitable gifts and commitments from other donors.