Austin College in Sherman, Texas, has announced a $3 million gift from the Fort Worth-based Morris Foundation to endow two new faculty positions.

The new positions — the Jack B. Morris Chair of Entrepreneurial Studies and the Jack B. Morris Professorship of Economic Policy — will bolster the college's department of economics and business administration. The chairs are named in honor of the late Jack Morris, who founded the foundation with his wife, Linda, in 1986.

"This gift will have tremendous influence upon these disciplines, providing added faculty positions and raising the department to a new level of excellence," said Mike Imhoff, the college's vice president for academic affairs. "The department of economics and business administration produces more majors each year than some of our larger departments. New faculty positions will enhance what the department can provide for our students in the areas of entrepreneurship and policy analysis."

A Fort Worth native, Morris was the founder and CEO of MPI Corporation until he sold the company to Leggett & Platt in 1986 and became a member of the Leggett & Platt board. Linda Morris, a former teacher, has been active in the Fort Worth community, serving as a trustee of the Morris Foundationc as well as on the boards of the Cassata Learning Center and Harris Women's Health.