When asked why he chose to make a gift to the University of Illinois, Loren E. Schroll simply said, "It's payback time! A large part of the success I've enjoyed is due to the education I received at Illinois. I couldn't think of a better way to show my appreciation." "Sometimes you need a push to do what's good for you."

Kristan and Loren Schroll Photo by Michael Deane

Loren and Kristan Schroll have made a $500,000 deferred gift to endow scholarships in the College of Commerce and Business Administration. Loren said he chose to help bright but needy students attend the college because of his "roots." The son of a share-cropping farm family, he might not have been able to attend Illinois without the tuition scholarship he received. "There must be lots of kids like me, who have the ability to succeed at the UI but who don't have the means to attend." According to Loren, "students are the most important element at the university. I hope my gift will allow some of the best to overcome their financial constraints and attend Illinois."

"I've always felt strongly about the University of Illinois," Loren said, and I had always hoped to make a gift that counts. When President Ikenberry and I discussed the possibilities of a deferred gift, that convinced me to make my commitment now." Loren feels it is important for people to find out the many ways they can contribute to the university and how that can help with their financial planning.

Loren Schroll's successful career has been both varied and interesting. For the last four years he has owned and operated his own business, LES TAX, in Naperville, which concentrates on individuals and small business. Loren started his own firm when the company he worked for was bought out. "I should have done this a lot sooner," he said. "Sometimes you need a push to do what's good for you."

A Bronze Tablet scholar at Illinois (MAS 1966; BS Accountancy 1965), Loren joined Arthur Andersen briefly, before serving in the U.S. Air Force Auditor General for four years. Although only a lieutenant, he was selected to head a team to conduct an audit of the Air Force-operated Alaska Communication System, which provided all (including civilian) telephone service in and out of Alaska. The final report was sent to Congress. During this 9-month project, Loren was in charge of personnel high above him in rank. To get around military protocol, the team dispensed with uniforms, much to Loren's amusement. Working on this project provided valuable management experience. It also gave him an opportunity, early in his career, to prove to himself and others that he could handle enormous responsibility and successfully manage and lead others.

"My training at Illinois, both in the classroom and outside, developed these skills." In courses, Loren said he learned to take an analytic approach to decision-making. The emphasis was on thinking and problem-solving in courses throughout the business curriculum. He gained leadership experience and a keen sense of responsibility through extra-curricular activities -- as vice president of Beta Alpha Psi, treasurer of Alpha Kappa Psi, and through working in the residence hall.

He left active duty with the rank of captain and an Air Force commendation medal, and returned to Arthur Andersen (1970-84) as an auditor/tax specialist. His most interesting assignment at Andersen was as part of a senior management team that developed a new approach to auditing in the manufacturing sector. When this audit system was adopted by the firm, Loren was sent to Switzerland to teach it to others.

From public accounting, Loren went to work in industry. Those nine years provided extremely useful experience, especially now that he has his own business. Having worked in both public and private accounting he can understand problems from both sides of the desk.

Loren grew up on a farm in Forsyth. His mother, a concert-level pianist, earned a bachelor's in music from Millikin when she was 57. His parents now live in Monitcello, not far from the Urbana campus. Thirty years after graduation, Loren Schroll still remembers certain faculty and courses with fondness: Art Wyatt, his undergraduate counselor, who also taught the graduate auditing course; Ken Perry, who taught the CPA Review and of whom Loren modestly says, "He's the reason I passed"; Norton Bedford, who taught him theory; Jim Wheeler, a young assistant professor who taught tax; Don Skadden, also a professor in taxation; and the late Paul Van Arsdell in finance. Although Loren Schroll loves this university, and lives nearby in the greater Chicago area, he hasn't spent much time on campus lately -- just returning for occasional football games. but we hope that will change. Loren is eager to interact with students through one of our visiting executive programs.