Drake University has exceeded the $225 million goal for its “The Ones” campaign with a $28 million gift from Drake alumnus and board of trustees member Greg Johansen and his wife, Cie Johansen, the university announced at a news conference this morning.

The donation is the largest gift to The Ones campaign to date, putting the total amount raised at $247 million. It will also be the largest single-donor gift in Drake’s history. A news release said The Ones campaign will continue until October 2024.

“Greg’s generous commitment is an expression of his unwavering confidence in the power of the Drake experience and will play a pivotal role in driving progress and transformation across our institution — from giving our students a space to connect and create in the Johansen Student Center to fostering continued innovation in students’ academic experience,” Drake President Marty Martin said in a prepared statement.

A portion of the money will go toward finishing the renovation of Morehouse Hall, a 93-year-old former residence hall on campus, into a new student center. Drake will name the new space the Johansen Student Center in recognition of the Johansens’ gift. The estimated completion date is January 2025, the news release said.

Drake previously raised $11 million for the remodel and received a $1.75 million donation from Sammons Financial Group. The Johansens’ gift will allow the university to complete the renovation debt-free. A building permit issued in January 2023 valued the project at $10 million.

Other areas of the university the gift will support are:

• The College of Pharmacy and Health Sciences
• John Dee Bright College
• Drake Athletics, with an emphasis on women’s basketball
• Sustainability efforts, including the installation of solar panels on Meredith Hall
• The Drake Fund, which supports a range of departments, programs and initiatives on campus

“This gift commitment is a statement of gratitude to Drake University for the education I received here beginning more than 50 years ago,” Greg Johansen said in a prepared statement. “The opportunity I was given to receive a Drake education was a gift to me and now I am here to return the favor.”

Johansen is a 1976 graduate of Drake’s College of Pharmacy and Health Sciences. He first worked at McLuen Drug in Indianola, while still a student at Drake. Later in his career, he co-founded and led GRX Corp. and then GRX Holdings, which operated 22 Medicap pharmacies throughout the state of Iowa and created the Midwest Compounding brand. Johansen sold GRX Holdings in 2021. He and his wife live in Cumming.

Some of the other efforts supported by contributions to The Ones campaign so far include the establishment of the Zimpleman College of Business, the launch of the Ron and Jane Olson Institute for Public Democracy, and more than $52 million committed to scholarships to date, creating more than 300 new or expanded scholarships.