A-B Tech Foundation Unveils Recognition Wall
President Bailey and Foundation Chairperson James Coman, Jr. unveil the A-B Tech Foundation Recognition Wall in the lobby of the Ferguson Auditorium.
More than 600 donors who have made contributions and pledges totaling $5.5 million were honored Dec. 1 with the unveiling of the A-B Tech Foundation's Recognition Wall in the lobby of the Ferguson Auditorium.
President K. Ray Bailey told guests at the dedication ceremony that the Foundation has experienced tremendous growth since it was formed in November 1996 to support the students, faculty, and staff of A-B Tech.
"That first year, the Foundation raised $16,225," he said. "Today, the Foundation has assets totaling $1.5 million (and) $4 million in charitable remainder trusts. From the beginning, our employees and the community supported this Foundation." President Bailey singled out several donors who have given major gifts, including Foundation Board Member Jack Ferguson and his wife, Carolyn, who have pledged $3 million through charitable remainder trusts, and Dr. and Mrs. H.D. Crews, who have contributed $150,000 for nursing scholarships. He also announced a pledge of $1 million from Ken and Verna Murphy. (See related story below.)
Another donor, Grace Joan Love Schneider, was remembered with the unveiling of her portrait by her goddaughter, Sharon Giezentanner, and Foundation Executive Director Anita Metcalf. Schneider, an Arm and Hammer Soda Company heiress, audited classes with Giezentanner in the 1990s and was so moved by the struggles of some of her young classmates that she left the Foundation more than $730,000 in her will for scholarships.
Foundation Board Chairman Jim Coman said he has been privileged to witness the growth of the Foundation as a board member since 1996. "Last year, the Foundation reached some important milestones," he said. "We awarded more scholarships, raised more funds, increased our donor base, and with the Grace Joan Love Schneider legacy gift, accumulated more than $1.5 million in assets.
"This growth would not have been possible without you," he added. "You make it possible for the Foundation to support the four goals: scholarships, professional development opportunities, technology, and renovation and expansion projects."
President Bailey told guests the Recognition Wall will be updated every year, and urged their continued support of the Foundation. "Every gift makes a difference," he said.
Murphys Give $1 Million to A-B Tech Foundation
President Bailey thanks Ken and Verna Murphy for their generous donation to the A-B Tech Foundation during the Recognition Wall ceremony.
Ken and Verna Murphy have pledged a $1 million gift to the A-B Tech Foundation. The donation was announced by President K. Ray Bailey Dec. 1 during a dedication ceremony for the Foundation's Recognition Wall in the lobby of Ferguson Auditorium. The Murphys' contribution comes in the form of a charitable remainder unitrust, with the Foundation receiving the money at the end of their lifetimes.
Ken Murphy is chairman of the board of Taylor & Murphy Construction Co., which, over the years, has employed many A-B Tech graduates. He and his wife earmarked $800,000 of their gift to establish the Kenneth and Verna Murphy Endowed Scholarship Fund with preference given to scholarships for students in the Civil Engineering Technology or Mechanical Engineering Technology programs. First preference will be given to employees of Taylor & Murphy Construction Co. or their children.
The remaining $200,000 will go to the Jessie Copp Kramer-Hominy Valley Endowed Scholarship Fund to give students from the Murphys' community opportunities to attend college.
With the Murphys' gift, the Foundation has amassed $1.5 million in assets and pledges of $4 million through charitable remainder trusts since its establishment in 1996.
