Eastern Mennonite University (EMU) has received a portion of a $2.7 million bequest from the Virginia College Fund.
The university will receive $672,000, primarily to be used for student scholarships and capital improvement, according to President Susan Schultz Huxman.
“We are thrilled with this very generous gift from Mr. Beatty,” said Huxman. “He was a true ambassador for the kind of holistic education we deliver to students to shape them into excellent citizens and workforce ready employees. We are here to assist students, including Virginians in rural areas who are first-generation college students, a special focus of the Virginia College Fund.”
The gift, from the Guy E. Beatty Revocable Trust, is the largest in the organization’s history. Beatty was a former board member. The VCF was one of several beneficiaries in a large charitable trust.
The participating members, all of which received portions of the bequest, include EMU, Ferrum College, Bluefield College and Averett University.
“Mr. Beatty’s gift is an affirmation for the quality of the educational programs that are offered by the participating members of the Virginia College Fund, in that we provide generous financial support for low- to moderate-income students, minority students and also first-generation students who are interested in a smaller college or university,” said Kirk Shisler, vice president of advancement.
Beatty was president and CEO for the family-run, global Beatty Management Company, located in McLean, Virginia. He joined the VCF board in the 1990s and was supportive of the VCF’s goals, “especially in helping students who might not otherwise have the opportunity achieve a college education and better themselves,” said Jim Dill, executive director and president.
“This is a transformational gift for The VCF,” Dill said in a press release. “We are grateful to Guy, his widow Betty, and the Beatty family for their long-term generosity and belief in a private college education. Guy was a long-time board member and fully believed in our schools and the students they produce.”
The four VCF beneficiaries are members of the Council for Independent Colleges in Virginia and the State Council for Higher Education of Virginia, and accredited by the Southern Association of Colleges and Schools.
The VCF has raised over $23 million in its 53-year history. The funding comes from individuals, foundations and corporations.