By Jordan-Ashley Walker
One afternoon, Ray Strangways, Ph.D., and Vinod Agarwal, Ph.D., sat down to lunch together — something they had done countless times over the years as colleagues in the Department of Economics at Old Dominion University’s Strome College of Business. But this conversation unfolded differently.
Dr. Strangways, professor emeritus who retired from the University in 2000, arrived with an idea he had been considering for some time. He wanted to give back to the department that had shaped much of his professional life. He turned to Dr. Agarwal, a longtime faculty member and leader in the department since 1980, for guidance on how a gift might have the greatest impact.
That discussion led to a commitment: a $250,000 gift from Dr. Strangways establishing the Raymond and Jean Strangways Endowed Fund for Faculty Development.
Erika Marsillac, Ph.D., dean of the Strome College of Business, formally announced the gift in late Fall 2025 during a faculty and staff town hall, where Dr. Strangways was present to hear the news shared with the college where he taught for decades.
“Dr. Strangways and his late wife, Jean, have created something enduring—an investment that will uplift faculty, advance scholarship and strengthen the Strome College of Business for years to come," she said.
Dean Marsillac called the gift a “coming-home, full-circle moment,” and the connection between Drs. Strangways and Agarwal underscores that sentiment. When Dr. Agarwal first applied to join Old Dominion University’s faculty in 1980, Dr. Strangways was a member of his hiring committee, marking the beginning of a professional relationship that now comes full circle.
“For many years, I’ve given to ODU’s annual campaign,” Dr. Strangways said. “But I’ve always hoped to do something that felt more personal — something that would truly make a difference for the people who shape the University every day. The Department of Economics faculty have had such an impact on me, and I want to honor that by supporting the next generation of scholars.”
Dr. Strangways’ connection to Old Dominion University runs deep. He earned his undergraduate degree in economics in 1959 at the Norfolk Division of the College of William and Mary, which later became Old Dominion University. He joined the University as an assistant professor of economics in 1962, dedicating decades to teaching, scholarship and departmental leadership. The new fund honors both Dr. Strangways and his late wife, Jean, reflecting their shared belief in education and their long-standing support of the University.
The endowed fund will benefit faculty in the Department of Economics, with priority given to junior faculty as they build research portfolios and progress in their careers. Funds may also be utilized to support research efforts, conference travel and research assistantships — resources that help faculty remain competitive and engaged in their fields.
“My hope is that, by helping junior faculty with their professional development, I can give back in a way that strengthens both their careers and the department as a whole,” Dr. Strangways said. “I think of this as an Economics Faculty Appreciation Fund — a small gesture of gratitude for all they do and an investment in their future.”
Explore ways to give to ODU.