The C.T. Bauer College of Business is the business school of the University of Houston and is fully accredited by the AACSB International. It offers B.B.A., M.B.A., MS Accountancy, MS Finance, and the Houston’s only Ph.D. program in business administration. The College of Business Administration was founded in 1942 as the business school of the University of Houston. On July 12, 2000, businessman Ted Bauer announced a $40 million donation to the University of Houston's College of Business Administration. In recognition of his generosity, the college was renamed the C.T. Bauer College of Business. The Bauer College is located on the campus of the University of Houston and has been housed in Melcher Hall since 1986. Melcher Hall is named after Leroy Melcher—an alumnus of the University of Houston and successful businessman—who donated $3 million to the business school. The school has students from many countries around the world and is considered one of the most diverse schools in the US. The Bauer College broke ground on June 5, 2008 for the Michael J. Cemo Hall. The hall is named after Michael J.