Haslam currently serves on the University of Tennessee's Board of Trustees and has donated tens of millions of dollars to the school and its athletic programs over the years. In 2002, the football team's new practice field was named "Haslam Field" in his honor. Jim and Natalie Haslam's gift of $32.5 million in 2006 represents the school's largest gift ever. Part of this money was used to construct the new College of Business building, the James A. Haslam II Business Building, and part will be used to construct a new building for the School of Music, which will be named for Natalie Haslam. The money will also support construction of the Baker Center and renovations to Neyland Stadium.