The event formally recognized a gift from the estate of the late Wallace T. Miller, Jr. The university has received nearly $17.2 million to name the Miller College of Business and to establish the Phyllis A. Miller Professorship in health economics.

Phyllis and Wally Miller were married from 1961 until her death in 1987. He died in 1998.

Wally Miller earned a master of arts degree in business in 1963 from Ball State. He was a member of Ball State's National Development Council, national campaign committee of the "Wings for the Future" campaign, national steering committee for the Alumni Center campaign, College of Business Alumni Society Board of Directors, and was an alumni activity volunteer. Miller also served as an instructor of economics in the College of Business from 1991 until his death.

For 20 years prior to his death, Miller was chief executive officer and chief operating officer of the Miller's Merry Manor Corp., now known as Miller's Health Systems, which operates 31 nursing homes and three assisted living centers across Indiana.