UNA donates $1M toward endowed scholarship
January 16, 2014
An act of kindness extending across the ages — this is what university officials are calling a recent donation of over $1 million in endowed scholarship money from the estate of a recently deceased almuna of Florence State Teachers College (now UNA).
Although she passed away earlier last year, officials were notified in December that Mary Deeters, 96, had left over $1 million to the university, said Vice President for Advancement Dan Hendricks.
“The $1 million to $1.5 million donation will be added to the existing endowed scholarship (the Raymond F. and Mary Deeters Endowed Scholarship) and will generate significant funds annually in perpetuity,” Hendricks said. “That means that once we endow that (money) it literally will generate a certain amount of money every year that will be used to support student scholarships. Once you endow something, it’s there forever.”
As the money for the scholarship grows from interest and earnings, a spendable fund develops so more Raymond F. and Mary Deeters endowed scholarships will become available to students, Hendricks said.
“Within 18 months to two years, it will provide multiple scholarships,” he said. “It will grow as the years go by. The university benefits because the students benefit.”
Deeters’ donation, one of several donations the alumna has made over the years, is due to an incident that occurred years ago, when she was going to discontinue her studies at FSTC because of financial struggles, Hendricks said. The college’s president, Henry Willingham, would not allow Deeters to give up so easily, offering to find a way to fund her education if she agreed to stay and earn her diploma.
“Apparently, soon after she was able to graduate,” Hendricks said. “She said that from that day forward, if she had a chance and fortune smiled on here, that she would turn around and show her generosity and her gratitude to UNA, and she did. Last summer she passed away at 96 years old, and she left over $1 million to the university. She wanted to be able to reach across the ages and help other students that came from modest families.”
The university currently offers one Deeters scholarship that is given out annually and is targeted at students graduating from Fairview High School in Cullman County, where Deeters was a teacher, who wish to attend the university, said Melissa Pettus, director of endowed scholarships. In the event there are no applicants from Fairview, the university scholarship committee is responsible for determining who will receive the scholarship.
“She wanted the scholarship to go to a good student that made good grades,” Pettus said. “That was her only request.”
The scholarship’s current recipient, Haley Cheyenne Johnson, did not attend Fairview High School, but was awarded the scholarship later last semester after having applied for several scholarships, Johnson said.
“It was unexpected and it took some weight off of my shoulders,” Johnson, a freshman, said. “I was really excited when it was awarded to me.”