Grant supports the expansion of Entrepreneurship@DU’s faculty and academic offerings
Ever since he was little, Ken Richey (BSBA 1974, MT 1981) knew he would own his own business. He just didn’t know that his business would be an accounting firm.
Richey grew up on a small farm in Missouri. He and his six siblings worked from an early age.
“Sometimes our dad would leave for his truck routes on Monday, and he wouldn’t be back until Friday,” Richey said. “We had a lot of responsibilities… I was hiring and firing farmhands when I was 13. That’s when I recognized it in myself: I loved having that responsibility. Being entrepreneurial was in my bloodstream.”
That work ethic carried into his college career at the University of Denver’s Daniels College of Business.
“When I enrolled in DU’s accounting program, I quickly learned this profession demanded hard work,” he says. “Without it, you won’t go far.”
Ken Richey
After completing his undergraduate and graduate degrees at DU, it did not take long for Richey to start his own business. He quit his job with Hein & Associates in 1984, which has since combined with Moss Adams and is one of the largest accounting, consulting and wealth management firms in the country.
“I had a wife and son, a $2,000 line of credit at the bank, and no cash,” Richey said. “Starting Richey May was a ‘sink or swim’ endeavor. Through hard work and tremendous support, I started the firm and assembled a team of invaluable partners. My education at DU was a springboard for that.”
The Denver-based firm Richey May provides assurance, tax, business advisory services and technology solutions to clients all-around the country. Richey co-founded the firm with Keith May. The work they do is practical, but their mission is intrinsically tied to entrepreneurship.
“The heart of Richey May beats to entrepreneurship—our firm and the clients we serve are products of entrepreneurs. Innovative thinking, constant learning, perseverance and flexibility are the keys to our consistent growth,” said Jason Yetter, managing partner of Richey May.
Originally the combination of two Latin words and later refined by French economist Jean-Baptiste Say, entrepreneur has come to mean a business adventurer, a risk-taker uncertain of the outcome but determined to bring the idea forward.
“This is the essence of the Richey May way,” Yetter said. “We dig deep to understand very regulated industries, bringing insights and solutions to power the entrepreneurial opportunities for our clients.”
In 2021, Richey May launched a search for a university partnership that aligned with their own entrepreneurial vision. Entrepreneurship@DU turned out to be a perfect fit.
“When we met Joshua Ross, it was like meeting the Ken Richey of higher education,” says Felicia Mullison, chief marketing officer of Richey May. Ross is the director of Entrepreneurship@DU. “DU is looking at entrepreneurship beyond the scope of business. At most universities, if you walk into an accounting classroom, it’s not likely you will find many students eager to start their own firm. But that is the spirit we want to help create. We want to support the birth of new entrepreneurs.”
“Who has the DNA of an entrepreneur?” Richey asks. “Not everyone wants to be in an entrepreneurial role. We love that DU’s program gives students the chance to take on those roles and find out for themselves. I discovered it for myself on the farm, but many students don’t have that same experience. Entrepreneurship@DU gives students the opportunity to work hard, take risks, and have a willingness to fail.”
In support of this mission, Richey May gifted $50,000 to Entrepreneurship@DU. The gift will be evenly dispersed over five years. The Richey May Faculty Fellowship will be put toward stipends and awards for faculty members.
The faculty members will teach entrepreneurship as it relates to a wide range of industries and disciplines. This will enable students of diverse interests and backgrounds to study entrepreneurship as it relates to their fields. As a result, the Richey May Fellowship will help the development and execution of interdisciplinary class offerings.
Faculty scholars will be designated as Richey May Faculty Fellows. The fellowship is set to begin spring of 2022.