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ore than 30 years ago, Indiana Wesleyan University made a bold and ground-
breaking commitment to serving adult learners with the launching of the dynamic
LEAP (Leadership Education for Adult Professionals) program. The innovative
approach to serving diverse learners had an initial focus on business education

programs, which would lead to the formation of what is now the DeVoe School of , one of the
Midwest’s largest and most influential business schools. The DeVoe School of has served
learners through providing a faith-based business education which sharpens skills, clarifies reasoning,
and helps students to further define personal and professional calling.

Today, the DeVoe School of delivers education onsite at 16 regional education centers and
online nationwide to thousands of learners across the landscape of the marketplace. With an alumni
base numbering in the tens of thousands, the DeVoe School of has influenced the leadership
of many business leaders throughout the nation. A hallmark of the DeVoe School of from
its inception is the commitment to reach learners by taking the educational experience to them, from
manufacturing plant floors to office buildings.

This inaugural edition of The DeVoe Report is no different. We are continuing to find new ways to take
education directly into the marketplace to increase business professionals’ access to valuable learning.
It is my hope that you find the content of this reader helpful to your daily work. I am grateful to the
many business leaders and industry experts who have partnered with us to bring this publication
together. We look forward to sharing future editions with you.

President
Indiana Wesleyan University

DR.DAVID WRIGHT

Alumni Spotlight
Donna Meiser

7 Hardwork, Faith, & FamilyRyan DeVoe
The Bible & Leadership

Jerry Pattengale

14
10

A Conversation with
Cheryl Bachelder
Kneeland C. Brown

20 & CommunityGreg Enas
24 Something Different is NeededDebbie Philpott

CONTENTS

How Some Corporations Have a Soul & Why
It Matters for Modern Society and Economics

Rebecca Samuel Shah 28

48
Changing the World
Through
Duane Kilty

44
Financial Accountability

Justin Henegar

36Choosing a Financial Advisor Justin Henegar
40 How Are You Set For Your Next Batch of LeadersMichael Chase

52Quantitative Decision Analysis Justin Henegar

56 Virtuous Leaders & Organizations Mark Brooker & Jeffrey W. Boyce

62
72Alumni SpotlightDonna Meiser

68Gary Wilkinson & Tom Vogel Gary Wilkinson, Kevin Cabe, Marcus Myers & George Howell

authors DeVoeREPORTTH
E

Jeff Boyce, Ph.D., is the Assistant Dean for

Curriculum and Operations for the DeVoe School

of at Indiana Wesleyan University. He

earned his Bachelor of Science in Physics, his

MBA in Executive Management, and his Ph.D. in

Organizational Management. Dr. Boyce was also

a graduate in Lean Manufacturing from JCIT.

Mark Brooker, Ph.D., is the Assistant Dean of

Teaching Faculty at DeVoe School of

at Indiana Wesleyan University. Dr. Brooker

has served as a manager and corporate officer

in private business, as well as an economist in

public government. He lives near Wilmington,

Ohio with his family.

Kneeland Brown, Ed.D., serves as the Dean

of the DeVoe School of at Indiana

Wesleyan University. Dr. Brown holds a Doctor

of Education degree with an emphasis in

Higher Education Administration and resides

in Indianapolis with his wife Tearrah and their

four children. Dr. Brown has spent more than a

decade in higher education administration and

has a passion for increasing the affordability and

accessibility of higher education.

Kevin Cabe, BS, MBA, DBA, is an Assistant

Professor with the DeVoe School of

at Indiana Wesleyan University. Working in a

liberal arts Christian higher education setting

brings two of his passions into convergence:

developing highly proficient business students

who can reason from a Christian worldview and

magnifying the glory of God in and through

Jesus Christ. Dr. Cabe’s interests include

accounting ethics, business as mission, and

personal finance.

Michael Chase, Ed.D., is an Associate Professor

of at Indiana Wesleyan University.

He earned his Bachelor of Arts at Spring Arbor

University. He also holds a Master of Science in

Administration from Central Michigan University

and a Doctor of Education in Organizational

Leadership from the University of Sarasota.

Ryan DeVoe is the CEO of DeVoe Holdings.

Its companies include auto retail, finance,

insurance, portfolio servicing, building supplies,

and construction. Ryan earned his Bachelor

of Science degree from Miami University. He

spends his free time watching sports and his

kids’ events.

Greg Enas, Ph.D., is the President of Trinity

Fellows Academy and serves on the board for The

Oaks Academy in Indianapolis. Dr. Enas holds

a Ph.D. in Biostatistics and earned his Bachelor

of Science in Mathematical Sciences. Dr. Enas

and his wife, Kim, have three sons. He enjoys

running, biking, and basketball.

Justin Henegar, Ph.D., is the Executive Director

for Research and Scholarship at the Ron Blue

Institute for Financial Planning at Indiana

Wesleyan University. Dr. Henegar earned his

Ph.D. in Personal Financial Planning, during

which time he focused his research on financial

literacy being taught by homeschooling

families. He also holds a Master of

Administration in Leadership and Organizational

Development.

George Howell, DBA, is an Professor at the

DeVoe School of in the College of Adult

and Professional Studies at Indiana Wesleyan

University. Prior to being an associate professor,

Dr. Howell worked in several leadership

positions within the school. He holds a BA in

Economics from Ripon College, an MBA from

Indiana Wesleyan University, and a DBA from

Anderson University. His interests include

marketing, management, services marketing,

customer satisfaction, and adult education.

Duane Kilty, Ph.D., is the Scholar in Residence

for the DeVoe School of at Indiana

Wesleyan University. He holds a CFP, a CPA,

a Master’s degree in both Accounting and

Administration, and a Ph.D. in

Administration. In his free time, Kilty and his

wife love to travel and spend about 125 nights

a year on the road in their RV. Kilty also loves to

play golf and recently played Bethpage Black in

New York, which was the location of the 2002

and 2009 U.S. Open Golf Tournament.

Donna Meiser is the Alumni Relations

Coordinator for the College of Adult Professional

Studies at Indiana Wesleyan University. Donna

also serves as the worship minister at Florida

Station Church of God. She earned her master’s

degree in Management from Warner University.

Meiser pursued higher education as an adult

student. She received her undergraduate degree

alongside her son and her graduate degree

alongside her oldest daughter.

Marcus Myers, BA, MBA, Ph.D., is an Assistant

Professor at the DeVoe School of

at Indiana Wesleyan University. Dr. Myers’

professional experience includes serving as

Development Officer for the College of

Administration at Cleveland State University

and the Director of Development for EMERGE

Ministries. He has contributed to multiple

presentations and papers.

Jerry Pattengale, Ph.D., is author of more than

twenty books, has co-developed a top-ten-visited

website, and has generated significant funding

for projects. Indiana Wesleyan University named

him its first University Professor (2014). He

holds various distinguished appointments

and awards—including USC’s National Student

Advocate Award, AP’s Hoosier State Press

Association (2015 and 2016), and the National

Endowment of Humanities. Dr. Pattengale serves

on several boards and was the founding director

of the Scholars Initiative and the Education

Department at Museum of the Bible.

Debbie Philpott, Ed.D., CPA, CMA, SPHR,

SHRM-SCP, CGW, is a professor in the DeVoe

School of at Indiana Wesleyan

University. Dr. Philpott’s research interests

include human resources management, faith at

work, biblical integration, work-life balance, and

micro-entrepreneurship.

contributors

Kneeland C. Brown, Ed.D.
Editor-in-Chief

The inaugural edition of The DeVoe Report is a significant milestone in the
life of the DeVoe School of . The establishment of this publication
is reflective of the school’s positioning as a thought-leader, delivering
life changing business education rooted in biblical principles and sound
practice. The culmination of this magazine would not be possible without
the help of many devoted faculty, staff, friends, and partners of the DeVoe
School of . For each of your contributions, I appreciate you and
pray God’s richest blessings upon your lives. Let’s continue forward in
preparing world changers for a life of service and leadership.

Lauren Young
MANAGING EDITOR

Jay Hein
SENIOR EDITOR

Jerry Shepherd
CHIEF MARKETING OFFICER

Heather Snodgrass
CREATIVE DIRECTOR

Evan Eikenberry
DIRECTOR OF DIGITAL STRATEGY

Jenne Logsdone
SENIOR DESIGNER

Laura Matney
PRODUCTION COORDINATOR

Rachel Ashley
EMAIL MARKETING & CONTRIBUTING EDITOR

BOARD OF ADVISORS
Ilene Bezjian- Chair
Ian Blair
Ron Brumbarger
Cynthia Booth
Ryan DeVoe
Greg Enas
Sarah Lacey
Pete Ochs
Knut Olson
Raul Soto
P. Douglas (Doug) Wilson

DeVoeREPORTTHE

`

Rebecca Samuel Shah is a research professor at the Berkley

Center for Religion, Peace, and World Affairs and an associate

scholar with the Berkley Center’s Religious Freedom Project.

Rebecca is the project leader of a research initiative on religion,

entrepreneurship, and economic development funded by

the Religion and Innovation in Human Affairs program of the

Historical Society in Boston. Rebecca has conducted research for

Berkley Center’s Religious Freedom Project, the John Templeton

Foundation, and Cambridge University. Rebecca earned a Bachelor

of Science in Economics and Economic History as well as a Master

of Science in Demography both from the London School of

Economics.

Tom Vogel, BA, MS, MBA, is a key adjunct faculty member of the

DeVoe School of at Indiana Wesleyan University. He

has taught with IWU since 1989, during which time he took an

eight-year reprieve to live and work in Dallas, Texas. Tom owns and

manages 12 grain farms in western Ohio and has three livestock

operations in Ohio. He has a keen interest in the area of faith and

economics, and strongly believes an economic system works best

with faith-based principles.

Gary Wilkinson, Ph.D., is a professor of and Faculty

Emeritus for the DeVoe School of at Indiana Wesleyan

University where he teaches economics. Prior to full-time

teaching at Indiana Wesleyan University, he worked for 27

years at GTE Corporation. Dr. Wilkinson is a past president of the

Indiana Economic Forum and has served IWU as Faculty Chair

for the non-residential college, Chair of the University Faculty

Relations Council, and Chair for the DeVoe School of .

He lives in Indianapolis and actively attends St. Marks United

Methodist Church. He and his wife have four children and eight

grandchildren.

David Wright, Ph.D., serves as President at Indiana Wesleyan

University. Dr. Wright was Provost and Chief Academic Officer

for five years prior to his election as president in May 2013.

Before coming back to IWU in 2008, he was Dean of the School

of Theology at Azusa Pacific University. Dr. Wright has served

in several other positions at Indiana Wesleyan University. Dr.

Wright earned his Ph.D. in Educational Policy Studies and

Evaluation from the University of Kentucky. He has published

three books, numerous articles, and contributed chapters to

several professional books. Dr. Wright and his wife Helen have

been married since 1977. They have two adult daughters and 3

grandchildren.

Copyright 2017 DeVoe School of
. Indiana Wesleyan
University. All rights reserved.

Subscription Services:

DeVoe School of
Email: [email protected]

HARD
WORK

FAMILY
ARDWORK, FAITH, AND FAMILY. These three
qualities form a single portrait of one of America’s most
innovative auto industry executives, my father, James

“Jim” F. DeVoe Sr. Born on March 14, 1943, in Carmel, California,
Dad’s family relocated to Indiana when he was a toddler and
they settled in Marion, IN in 1962. His commitment to hardwork
showed up early in life. As a boy, he had a local paper route. He
took a special interest in giving the very best service he could and
won the respect of the many wealthy professionals he delivered
papers to.

Faith&& &
H

Ryan DeVoe

IWU | THE DeVoe REPORT 7

Jim F. DeVoe, Sr.

He took his work ethic to
Indiana University where he
graduated with honors in
1966 with a B.S. in
and Management.
It even took the same
persistence and hard work
for him to win the heart of his
college sweetheart, Andrea
(Andy). His hardwork paid off

when he graduated with an
MBA from IU and married Mom
during the summer of 1967.

Dad’s success was not built
on hardwork alone, however. He
had a belief in becoming the best
by learning from the best, and
he selected his role models very

carefully. He read books about
successful people and learned
how they faced struggles and how

they got through them. If you spent
enough time with him, you would

often hear him listening to his collection
of cassette tapes which featured audio

biographies of corporate executives, often
telling of their humble beginnings and journeys to
towering success. He would learn these stories,
repeat these stories, and embrace these stories.
Soon, he would be one of those stories himself.

Dad not only set his gaze upon many corporate
executives but, more importantly, he set his

sights on God as his ultimate role model.
Even before his formal confession

of Christian faith, Dad

read the Bible and strived to live a principled life to the best
of his abilities. During their dating experience, Dad and Mom
often spent time reading devotionals, which focused on the
Bible, and praying together.

Dad gave his life to Christ and began his Christian journey
at a conference at Oral Roberts University. It was this faith
in Christ which served as the foundation of Dad and Mom’s
marriage and family. It also guided them in the parenting
of their six children, the loving of their many grandchildren
(each of whom had a special nickname from Grandpa), and
ultimately their legacy in business.

The
Early in their marriage, Dad and Mom decided to return

to Marion, IN to take responsibility for the family’s Chevy-
Cadillac car dealership. Dad led the dealership effectively
and thrived while selling new cars to the residents of Grant
County and beyond. His financial acumen, innovative
mind, and entrepreneurial bent would serve him well in the
economic market insecurity which defined the early-to-mid
1980’s. With oil embargos driving gas prices further upward
and interest rates on a steady climb, the market demand
for expensive, big bodied new American vehicles subsided
significantly. It was these market conditions that led to the
launch of a start-up used car business on the lot next door to
the new car business in 1987.

Understanding the need for affordable, fuel-efficient
and reliable vehicles, while also being mindful of the
difficulty many of his potential customers had financially,
he developed the nation’s first “buy here, pay here” car
sales system. Dealership owners and managers flew in
from around the globe to attend seminars in Marion, IN and
learn about his “auto credit” system which was triggering so
many sales. Soon, more than 750 new car dealers had gone

through his seminar and launched used car businesses. In
the midst of the training, his business continued to flourish to
the point that franchising became the most effective means
of sustaining ongoing growth.

In 1989, he formalized this innovative credit system under
the J.D. Byrider brand. It was a walk of faith, coupled with
a lot of hardwork, and the active involvement of his growing
family that helped facilitate the success. While the business
continued to grow, Dad held onto his Christian values,
treating customers with respect and dignity while ensuring
that employees were treated well. J.D. Byrider would
eventually total 168 franchises nationwide in 28 U.S. states
under his committed leadership and care.

The DeVoe School
On March 23, 2006, Dad would transition from earth to

heaven in a private plane crash near Melbourne, FL. While
this was an untimely and tragic event, it is certainly not the
end of his legacy of hardwork, faith, and family. In 2013,
Indiana Wesleyan University (IWU) completed a $5 million
gift agreement, one of the largest donations received in
its history, which led to the naming of the DeVoe School
of (DSB). The gift came from our family in Dad’s
memory; however, it was not a gift intended to enshrine
his name. Rather, it was a gift meant to inspire others to
embrace their purpose. Mom hopes that students and alumni
of the DeVoe School of “combine both their talents
and their God-given gifts with the guidelines and principles
that He has set out in His Word as their foundation: to guide
them, to direct them, to hold to them, to trust them, to go
forward during times when they can’t go forward, to restore
them…He is able when you are not able. When you are
weak, He is strong.” These are profound words from my
mother and a fitting tribute to Dad’s faithful story. t

IWU | THE DeVoe REPORT 9

BIBLE BUSINESS LEADERSHIP:
Perspectives from the Shadows of Geniuses

-JERRY PATTENGALE

’m old enough to know that some of the youngest men
and women in our midst may join their ranks. These
traits have already begun to show themselves.
My forthcoming book, Borrowed Intelligence: Working

in the Shadow of Geniuses, contains a litany of lessons
learned from working for, and alongside of, some of these
special people. Below are lessons gleaned from time
spent in the shadows of three of them and their families –
successful not only financially but philanthropically.

Two of these men started with nothing. David Green,
founder of Hobby Lobby, slept in the kitchen of his
parents’ tiny parsonage, with two cabinet drawers
serving as his dresser. E. Thomas Arington, the pioneer of
Authorized Generics and founder of Prasco Laboratories,
began working at eight years old–sweeping a drugstore
next to his grandparents’ home where he stayed.

The third, the late Robert Van Kampen, progenitor of Van
Kampen Merritt, enjoyed initial family funding but veered
into totally new areas. His wealth came by revolutionizing
investment firms through insured trusts. He saw what
others missed and creatively monetized and leveraged
what others only valued existentially.

These three men are as different as HBO’s John Oliver
and the Senate’s Orrin Hatch, but they share a common
thread—a driving passion to serve God in everything.
For them it’s not the Bible and business, but the Bible in
business.

The undergirding dynamics of wealth accumulation
intrigues me. It’s the purposeful use of it that excites. In the
case of these three men, the two merge in an irrevocable,
unabashed business purpose of honoring God.

Some people are smarter than others. Some work harder. Some
are more creative. Some have greater discernment of character.
Some an uncanny insight into business trends. And some, while
possessing one or more of these traits, are also Bible-believing
billionaires or on their way there.

Each picture affords a glimpse of the rather tangible
expressions of their commitments to this singular end.
Numerous others could be listed for each person.

The Museum of the Bible is one of numerous projects
launched by David Green’s family—one currently rich
with media coverage due to its magnitude. The entire
project—building and programs—is estimated at $1 billion.
I’ve been privileged to help develop and lead the initiative
from the beginning, being among the first three hired to
dream and to execute such a plan. It now includes access
to more than 40,000 ancient biblical texts and related
artifacts associated with the programs, and hundreds of
thousands of others through partnerships.

We are looking forward to its opening in November 2017.
It will attract millions to its DC facility, and exponentially
more will benefit from the museum’s interactive Bible
curriculum, traveling exhibits, and a host of other venues

1An overview is either found on the Museum of the Bible’s site under “Education,” and full downloadable version at the App store
(late December, 2016). See: https://www.museumofthebible.org/curriculum.

I

MUSEUM OF THE BIBLE

10 THE DeVoe REPORT | IWU

PRASCO LABORATORIES

BIBLE BUSINESS LEADERSHIP:
Perspectives from the Shadows of Geniuses

internationally. Recently at a Willard Hotel event
(November 2016), David and Barbara Green reminded
the audience of their priorities: to share the Bible and its
message. Barbara reminded the interview host, Bill High
(National Christian Foundation), that only two things last
forever, “God’s word and people’s souls.” David shared
that half of their annual income goes to such causes.
Hobby Lobby (only one of their many businesses) made
more than $4 billion last year.

While preparing this essay, I asked Steve Green
(president of Hobby Lobby) what guiding principle he
recalls from spending decades with this dad in business.
He quickly replied, “Dad constantly said, ‘God owns it all!’”

The second picture is of the impressive Prasco
Laboratories complex in Mason, Ohio. Its founder is
the gregarious E. Thomas Arington—an eighty-year-old
teenager. Besides leading a public company, Duramed

Pharmaceuticals, out from under a status of undeclared
bankruptcy, he’s also been the key pioneer of Authorized
Generics.

He began sweeping the floors of a drugstore behind his
grandparents’ humble home in Shelbyville, Kentucky, and
never left the industry. One of my special memories was
joining him for his first return visit to that drugstore site
decades later. Standing with him at the old repurposed
building’s backdoor, I gained a new understanding of his
journey—across the parking lot was an unmistakable
landmark of his faith, the steeple of the church from his
youth. The Bible and its message was formative and
now frames the entire Prasco culture, to Unlimit ™ one’s
contributions through loving God and loving people.

The Prasco business complex is among the most
impressive in the country—including two professional-
quality baseball diamonds. Recently, with his sons, brother,
and loyal friends from decades of remarkable projects, he
launched Aprecia—the first company to use 3-D printing
in production. The Zipdose ™ technology revolutionizes
the time a tablet, pill, or wafer takes to dissolve (it’s
immediate). And the Arington and Prasco names are
inextricably linked to ministry and community service. Tens
of thousands attend their community events annually, at no
charge—from hundreds of baseball games to Christmas
specials, food gardens, and nutrition assistance.

It’s little wonder that the “Prasco Way,” articulated
on thousands of hand-out cards, carries a clear gospel
message around its acronym: ISEE. “Improve daily,
both personally and professionally. Serve God, family,
customers, partners, fellow employees, and global

2Malcolm Evans and Jerry Pattengale, Leading by the Book: Principles for a Fulfilling Life (Marion, IN: Triangle
Publishing, 2008). 3They have since appeared in a different context in The Chronicle Tribune.

IWU | THE DeVoe REPORT 11

HAMPTON COURT, HEREFORDSHIRE

community. Execute tasks with excellence and exceed our
goals. Energize others with our prayers and passion for
what we do and what we believe.”

The Cincinnati Angels’ website includes Mr. Arington’s
quote that he shares often: “The greatest job satisfaction
comes through achievement by a TEAM committed to
high standards with the WILL and INTEGRITY to win—
regardless of time or level of adversity.”

It’s not difficult to find the source of his philosophy,
beginning with Prasco’s address, 6125 Commerce Ct.,
Mason, Ohio. Yes, the sixth-book of the New Testament,
twelfth chapter and fifth verse (Romans 12:5). Those
missing that cue won’t overlook it in Prasco’s impressive
lobby. While standing on three inlaid crosses one’s eyes
are immediately drawn to the large lettering across the
edifice of the circular second tier: “Go therefore and make
disciples of all the nations, baptizing them in the name of
the Father and of the Son and of the Holy Spirit” (Matthew
28:19 NKJV).

The third picture is of Hampton Court Herefordshire (on
the border of Wales). I remember a moment with Robert Van
Kampen: unannounced, he said, “Jerry, I just bought you
a place to hold your meetings in England. It’s a castle near
Hereford.” Indeed we held some remarkable events with
the British Library at Hampton Court, Herefordshire—for
scholarly discussions of the Bible. From the world’s leading
Greek scholar, Bruce Metzger, and leader of the Dead
Sea Scrolls group, Emanuel Tov, to the Vatican’s librarian,
Fr. Leonard Boyle, and noted scholars such as Janet
Backhouse, Walt Kaiser, and Edwin Yamauchi, in-depth
discussions marked our days.

Bob afforded this benevolence through an ingenious
small-stock idea. Within a few years, he became the
progenitor of the Van Kampen Investments brand. And
from Nike Securities and helicopters to one of the country’s
largest real estate firms (which he bought, sold for a profit,
and did the same again), he made money until the day he
passed. A strong man. Powerful presence. Obsessed with
whatever deal he pursued. Though espousing a devout
Reformed theology, his modus operandi followed none
other than John Wesley—”Make all you can. Save all you
can. Give all you can.”

As I moved (and continue to move) in the shadow of
geniuses, I tracked principles woven through their lives’
tapestries—manifest clearly in their business journeys.

Space doesn’t allow us to unpack the stories behind
some of the principles listed below. …