Newspapers / Chowan University Student Newspaper / June 1, 1991, edition 1 / Page 4
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Development News George I. Alden Trust presents gift Chowan College has received a grant of $50,000 from the George I. Alden Trust of Worcester, Mass., which will be used by the trustees of the college to increase the George I. Alden Scholarship Fund. Established at Chowan in 1986, the Alden Schol arship is awarded annually to worthy students with demonstrated financial need who are majoring in graphic communications. The Alden Trust was established by Alden in 1912-with education as a primary interest. TTie trust provides support of higher education with "strong interest in career-related edu cation for serious-minded youth.” The trustees, in presenting the grant to Chowan, stated, “The Trust is espe cially supportive of institutions that can demonstrate a strong combination of educational excellence with effi cient and economical administration.” The Alden Trust presents grants largely in the northeast and especially Worcester, Mass. The grant presented to Chowan College is larger than usual for institutions outside the northeast ern part of the United States. E. Vincent Tilson, vice president for development, expressed the col lege’s appreciation for the gift, say ing, ‘The trustees of the Alden Trust have supported our graphics program exceptionally and consistency well. This latest grant is in large measure an expression of support for the transi tion to four-year status and Chowan’s future.” George Alden was a man of the Industrial Revolution. Bom in 1843, he was educated at Harvard’s Law rence School of ScieiKe and taught mechanical engineering for twenty- eight years at Worcester Polytechnic Institute. He was a New Englander who achieved national recognition in the 1880’s and 1890’s for skillful and compelling use of engineering educa tion that combined practice with the ory. Graduates of Alden’s courses were leaders in the industrialization of America. Alden himself entered the competi tive world of industry in 1885 when he joined with several businessmen in establishing the Norton Emery Wheel Company. He later devoted foil time to the Norton Company which grew larger through the years. Scholarship established in memory of James Laughlin The James Marion and Grace Laughlin Scholarship Fund has been established by Mrs. Grace Laughlin, of Murfreesboro, and other family members. The scholarship ftmd is named in memory of James M. Laugh lin, who died in April at the age 82, and in honor of his wife, Grace. Mr. Laughlin, originally from Odessa, Missouri, retired from Union Electric Company in 1973. The Laugh- lins had moved to North Carolina to be closer to their children, daughter, Carolyn (Mrs. Jerry) Jackson, son, Jim Laughlin of Calabash, N.C. and son, Charles E. Laughlin of North Myrtle Beach, S.C. They lived on Lake Till ery in Montgomery County prior to living in Durham for four years to be near the Jacksons. They moved to Murfreesboro two years ago when son- in-law, Dr. Jerry Jackson, accepted the presidency of Chowan. “I have always been interested in education, and of course, am very interested in Chowan College,” states Mrs. Laughlin. "My only purpose in establishing this scholarship is to pro vide a living memorial to my husband Jim and to help students receive an education. It is something I always wanted for my children and I am glad to assist students at Chowan College.” The Laughlins met in 1927 at a track meet in Missouri. They were married for 60 years and spent much of those years in Illinois where Mr. Laughlin was a member of the Inter national Brotherhood of Electrical Workers, Local 309, Belleville, D- lionis. Mrs. Laughlin was an active member of the Women’s Missionary Union in the Baptist church there. She is now a member of Murfrees boro Baptist Church and says she loves living in Murfreesboro because "it is the friendliest town” she has ever seen. Settled in the Lee Retirement Home in Murfreesboro, Mrs. Laughlin en joys being a grandmother of five. Memorial donations may be made to the James M. and Grace G. Laugh lin Scholarship Fund, Chowan Col lege, P.O. Box 1848, Murfreesboro, N.C. 27855. Bryan Endowment provides aid The North Carolina Community Foundation, Inc. has announced the establishment of the James E. and Mary Z. Bryan Endowment at Chowan College in the amount of $20,000. The intent of the endovnnent fund gift, which is made possible by the James E. and Mary Z. Bryan Founda tion, is to provide funds for financial aid to students. "We are delighted that the officers of the James E. and Mary Z. Bryan Foundation view Chowan College as an institution worthy of support,”said Clayton Lewis, director of corporate and foundation relations for Chowan. "Managed by the North Carolina Community Foundation of Raleigh, the James E. and Mary Z. Bryan En dowment for Chowan will enhance our ability to assist North Carolinians in need of financial aid who wish to study at Chowan.” TTie North Carolina Community Foundation, Inc. is a public charity established in 1987 by a number of leading North Carolina philanthropists for the purpose of providing an "um brella” or “administrative home” for small and medium-sized North Caro lina based endowment and charitable funds. A LIVING GIFT Here's how you can make a living gift that will survive your death. Deed your home, vacation residence, or farm to Chowan College, reserving use of the property for your lifetime. You will have given the college what is caUed a remainder interest, with two immediate benefits to you: • An intangible benefit is the satisfaction of knowing that the gift is assured while you are living. A tangible advantage is that you will receive an immediate income tax deduction for the present value of the remainder interest. For example, Mr. and Mrs. Jones, age 60, deed a remainder in their $120,000 house to Chowan College, reserving life estate. Based on U. S. Treasury tables and regulations, this trans fer would give rise to a charitable contribution while they live. If this income tax deduction cannot be used entirely in the year of the transfer, the excess can be carried over to reduce taxes for five years. No estate or inheritance tax will be payable on the value of the property at the death of Mr. and Mrs. Jones. It will belong to the college free and clear, and the college can use the proceeds of the sale Oet’s assume $150,000) to sustain whatever cause at Chowan Mr. and Mrs. Jones choose. If you would like to know more about this method of making a gift, write or call the Develop ment Office, Chowan College, P.O. Box 1848, Murfreesboro, NC 27855; telephone (919) 398-4101. The Bryan Foundation previously established the Bryan Scholarship Trust at Chowan in 1974 which pro vides scholarships for numerous stu dents at Chowan. Beazley scholarship established The Frederick Foundation of I*ortsmouth, Virginia, has presented a grant of $10,(XX) to Chowan to endow a scholarship in memory of Frederick Wharton Beazley. The scholarship will be designated to benefit students in need of fmaiKial aid from Portsmouth, Virginia. ‘We are pleased to announce the establishment of the Frederick Whar ton Beazley Scholarship, established for the students in need of financial aid from Portsmouth,” said Qayton Lewis, director of corporate and foun dation relations. “The scholarship will assist Chowan in her effort to help students who could not attend college without help from private or federal sources. We are grateful Lawrence W. I’Anson and other officers and direc tors of the Frederick Foundation see Chowan College as an institution worthy of financial support.” Frederick W. Beazley began his career peddling firewood door-to-door, sawing wood by night and delivering it each day in a mule-drawn wagon. He had made and lost his first miUion by the age of 37. Beazley’s life pat terned a success story in the Horatio Alger tradition. When he died in 1972 at the age of 82, he was remembered as a millionaire with no patience for fanfare and little time for fun, a man who donated more than $12 million to charity—a fortune made in the ice business. Beazley survived his wife and son and a large share of his estate was left to the Beazley Foundation, of which the Frederick Foundation is a sister organization. “He did a lot twbody knows about,” states Eugene C. Lipscomb, Beazley’s nephew by marriage. ‘He was one of those kin^ who didn’t like to talk about it.” PAGE 4 — Chowan Today—Summer, 1991 BB&T supports Chowan Vint TJlson, vice president for development, accepts a check from BB&T Re gional President. Steve MedUn (right), as Henry M. Skinner (center), vice person^/ services manager observes. Mr. Skinner is also a trustee of Chowan.
Chowan University Student Newspaper
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June 1, 1991, edition 1
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