University of North Carolina alumnus Ralph L. Falls Jr. (BSBA '63) has endowed a monetary prize to benefit MBA students at the University of North Carolina's Kenan-Flagler Business School.
The Falls Prize will be awarded annually to up to six outstanding MBA students who are selected to receive fellowships to attend UNC Kenan-Flagler. Recipients of The Falls Prize will receive a $25,000 stipend over two years to supplement their fellowship awards. The prize will be used for school-related expenses such as study abroad programs, books and course packs, case competitions, recruiting trips, computers and the analytical skills workshop that precedes enrollment in the program.
The prize honors students demonstrating the highest potential for leadership, superior academic achievement and a diversity of lifetime experiences in each incoming class.
The prize is one way the business school is attracting the most promising MBA students from the application pool, according to Sherry Wallace, director of MBA admissions at UNC Kenan-Flagler. "The Falls Prize is a prestigious and powerful resource that will enable Kenan-Flagler to yield even more of the most promising MBA candidates into perpetuity," Wallace said. "It further distinguishes us as a program that is focused on enrolling the world's best students."
Falls, of Raleigh, N.C., is on the board of the North Carolina Museum of Natural Science and the Psychiatric Hospital Group in Chapel Hill and serves on UNC Kenan-Flagler's board of visitors. He spent his career in the medical industry, first as the founder of Charter Medical Corp. and
most recently as owner and CEO of the medical supply company Roane Barker Inc. for 20 years.
The prize is named in honor of Falls' father, Dr. Ralph L. Falls Sr., who attended the University of North Carolina before entering dental school in Atlanta (now Emory University Dental School). Dedicated to his family, church and farming, he served as a dentist during World War II and ran a private dental practice in Morganton, N.C., until his death in 1994. "My father was a very generous person," Falls said. "This gift will honor his interest in giving back and supporting future business leaders."
The Falls' gift counts toward the Carolina First Campaign, a comprehensive, multi-year, private fund-raising campaign with a goal of $2 billion to support Carolina's vision of becoming the nation's leading public university.