The University of Maryland has announced a $10 million gift from the Robert H. Smith Family Foundation in support of the Robert H. Smith School of Business.

The funds will support the school's MBA Scholarship Fund, leadership learning opportunities for undergraduates outside the traditional classroom experience, and facility enhancements. A portion of the gift also will provide continued funding for the school's Center for Social Value Creation, which works to empower students to create a better world through business principles.

The late Robert H. Smith earned a degree in accounting in 1950 from the business school, which was renamed after him in 1998 in recognition of his gift of $15 million, still the largest the school has ever received.

"The many conversations about the business school that I had with my father, as well as experiences with him there, made me very aware of how important it was to him," said Michelle Smith, who serves as the foundation's president. "This gift will help preserve my father’s legacy in an impactful and meaningful way. I am giving this gift through the Robert H. Smith Family Foundation so that the business school can continue to provide the best possible experience for students who will carry the Smith name into the future."