$60-Million Pledge to Va. School; Other Gifts
October 3, 2002 | Read Time: 2 minutes
Fork Union Military Academy, in Virginia, has received a trust valued at $60-million from Guy E. Beatty, a trustee of the academy, and his wife, Betty. The trust will make a payment of $2-million to the academy each year for 30 years after Mr. Beatty dies.
A retired entrepreneur, Mr. Beatty, a resident of Alexandria, Va., has developed numerous real-estate, music, and entertainment companies.
Other nonprofit organizations received large donations:
Great Basin College Foundation (Elko, Nev.): $2.5-million bequest from Elizabeth Griswold, a private investor and former shop owner in Elko, to endow a scholarship fund and support building projects at the college.
St. Elizabeth’s Medical Center (Boston): $1.5-million from a contributor who wishes to remain anonymous, to endow the directorship of the center’s Neurology Division and to support other neuroscience programs at the center.
U. of Iowa Foundation (Iowa City): $3-million from Lloyd G. Schermer, of Aspen, Colo., a retired chairman of Lee Enterprises, a publishing company in Davenport, Iowa, and his wife, Betty Adler Schermer, to help construct a building for the School of Journalism and Mass Communications. The building will be named for Mrs. Schermer’s father, Philip Adler, the founder of Lee Enterprises.
U. of Texas at Austin: $5-million from Joe Jamail, a lawyer in Houston, and his wife, Lee, both alumni of the university, to support scholarships for minority students, faculty programs in the School of Nursing, a presidential endowment, and other programs; and $1-million from Joe R. Long, a former Texas banker, and his wife, Teresa Lozano Long, of Austin, for scholarships.
U. of Toronto: A pledge totaling approximately $6.5 million from Henry N.R. Jackman, a university chancellor and chairman of the E-L Financial Corporation, an insurance company in Toronto, to support the university’s humanities and social-science programs.
