The Richmond (KY) Register recently published an article, "Anonymous couple bequeath $1 million to alma mater EKU," that details a bequest to Eastern Kentucky University. The bequest will fund a $500,000 endowed scholarship to help art or art design studio majors who are rising sophomores, juniors, or seniors. The recipient must maintain a minimum 3.0 cumulative grade point average and demonstrate financial need, as well as meet some other geographic criteria.
Another endowed scholarship of $500,000 from this same anonymous couple's estate plan will assist elementary education majors who are rising sophomores, juniors, or seniors who maintain a cumulative 3.0 GPA, demonstrate financial need and meet specific geographic criteria.
Both of the scholarships are renewable each semester, and the mysterious donor couple—one of whom is an elementary education graduate and the other an art grad—has requested large awards to cover half- to full-tuition scholarships in any given year, pending available funds.
"Our time at EKU was wonderful, some of the best times in our lives," the couple said jointly in a press release. "We feel so fortunate to be able to pay it forward."
The elementary education graduate said, "It is my hope that someone else fulfill his or her dream of becoming a teacher and become ‘that teacher' who makes all the difference in the life of a young child."
The spouse, who earned a degree in art, said, "Our gift is also in hopes that some budding designer or fine artist has the opportunity to fulfill their dreams, as I was able to do."
The school's vice president for development and alumni relations remarked that gifts like this are tremendously important and impactful. He added that endowed scholarships will benefit generations of students. Planned gifts also make other donors aware of a giving instrument they may not have considered.
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Reference: Richmond (KY) Register (April 29, 2016) "Anonymous couple bequeath $1 million to alma mater EKU"