$4.15 million Durkee gift is among largest cash donations in UAHuntsville giving history
HUNTSVILLE, Ala. (Nov. 4, 2011) - The University of Alabama in Huntsville has received one of the largest cash gifts in its history that will be used for a variety of programs for the campus.
The MaryLou Durkee Management Trust has provided a generous gift and property to the university valued at $4.15 million. MaryLou and her husband, Larry, established several remainder annuity trusts during the 1990s listing The University of Alabama in Huntsville as the beneficiary.
" It's gratifying for us to receive such a generous gift from friends of the university," said UAHuntsville President Robert A. Altenkirch. "The size of their gift matched the tremendous affinity that Mr. and Mrs. Durkee obviously had for UAH, our academic programs and athletics.
"While I did not have the honor of meeting Larry and MaryLou Durkee, the generosity they have demonstrated will be of significant benefit to our students and this campus for many, many years into the future."
MaryLou Durkee supported UAHuntsville as an active member of the President's Council by providing annual donations, and generously provided gifts to support the College of Business Administration. MaryLou, to honor the memory of her late husband, served as an honorary board member of the College of Business Administration's Capital Management Group Advisory Council.
She believed and genuinely respected the nursing profession and actively supported the College of Nursing and its students, stating that "You never know when you might need a nurse."
MaryLou was also a dedicated benefactor to UAHuntsville's athletic program and was a sports enthusiast by attending sporting events regularly.
The Durkees had previously established the Larry and MaryLou Durkee Scholarships in 1995 to benefit a business student and student athletes. The following year, they created a library endowment fund to benefit the M. Louis Salmon Library. The MaryLou Durkee Management Trust established the Larry and MaryLou UAH Endowed Scholar in 2009 along with the Larry and MaryLou Durkee Endowed Business Scholarship.
Mrs. Durkee passed away in 2009 and was preceded in death by Larry, who died in 2003. The MaryLou Durkee Management Trust stated that they wanted the gift to be accepted and maintained by UAHuntsville for the following endowments:
$1,587,300 to the College of Business Administration
$1,587,300 to the university's general scholarship fund
$427,350 to establish the Durkee Engineering Endowment in the College of Engineering through a cash gift and property
$305,250 to the College of Nursing
$244,200 to the university's athletic department
For more information,
contact Ray Garner
- Published November 23, 2011
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