William A. Krause (IABE ’57)

January 13, 1935 – June 19, 2013

William A.(“Bill”) Krause, a giant among Iowa business leaders and a true legend of SAE, entered into the Chapter Eternal on June 19, 2013.

Bill Krause was born on April 13, 1935, near Hampton, Iowa.   He graduated from the University of Iowa in 1957.  

Whileat Iowa, Bill Krause pledged the Iowa Beta Chapter of Sigma Alpha Epsilon and was initiated into the fraternity on March 28, 1954.   He received SAE active badge number 88869.   Heoften credited his days in SAE as formative, helping develop a passion to succeed but always maintaining the highest standards of ethics and integrity.   While a student, he served the Chapter in many ways but subsequently became one of its most famous alumni and generous supporters.

In 1959, Krause pioneered the convenience store concept by founding Kum & Go in Hampton, Iowa.   Today,Kum & Go is the fifth largest privately-owned convenient food storechain in the country with over 400 locations, and donates 10 percent ofits profits annually to charitable and educational causes.

He was also exceedingly generous personally.   Krause regularly supported the University of Iowa, including a recent donation of $5 million to help renovate Kinnick Stadium.   In1998, he established the Krause Fund, which provides Iowa business students the opportunity to learn about managing an equity portfolio.   Hewas a longtime supporter of the Iowa Beta Chapter of Sigma Alpha Epsilon, donating tens of thousands of dollars over the years.

Brother Bill Krause remained a loyal SAE member throughout his life, supporting Iowa Beta even during challenging times.   Anamazing entrepreneur and business pioneer, he will also be remembered as a loving husband, wonderful father and devoted grandfather.   To those that knew him, Bill was the consummate professional and the epitome of The True Gentleman.