Orange County, Calif., UA Alumni Association Members Establish Chancellor's Scholarships

FAYETTEVILLE, Ark. - John E. and Alta (Pearl) Larrison of Costa Mesa, Calif., active members of the Orange County, Calif., Chapter of the Arkansas Alumni Association, have made a contribution to the University of Arkansas’ Chancellor’s Scholarship Program. They have established in the John E. And Alta P. Larrison Endowed Chancellor’s Scholarships in both the College of Engineering and the College of Education and Health Professions.

"We made this gift to encourage outstanding students to pursue a college education at the University in the fields of engineering and education," said John Larrison, a pioneer in the semiconductor industry, who graduated from the University in 1939 with a bachelor’s of science degree in mechanical engineering. "We’ve enjoyed reconnecting to the University through the alumni association here in California."

"My father had always been involved in education, first as a local school board member, and then for a number of years as a board member of the AM&N College (now University of Arkansas at Pine Bluff)," he added, "which made me aware that education was very important to him."

Chancellor John A. White said, "We are deeply grateful to the Larrisons for sharing their success with the University. These scholarships reflect their concern for recruiting highly talented students to the engineering and education colleges and support a major University goal: to increase the size and quality of the student body."

The Larrison gift comes to the University in the form of an educational charitable remainder trust. The trust will provide substantial tax and economic benefits. For a term of 11 years, the trust will pay a stream of income to the Larrison’s grandchildren for their college education. The Larrisons funded the trust with appreciated securities that can be sold in the trust tax free and invested to produce the income stream for the grandchildren. Not only is capital gains tax on the sale of the securities avoided, but also, the Larrisons will receive an immediate income tax deduction. A further tax savings is effected because the income stream is being taxed at the much lower rate of the grandchildren instead of the higher tax rate of the grandparents.

After providing for the education of the grandchildren, the trust assets will then be used to establish an endowment for Chancellor’s Scholarships at the University of Arkansas.

John Larrison, a native of Wilmot, Ark., served as a marine engineer for the Navy during World War II at Mare Island. It was during this time that he met and married Pearl Stanger. While working for General Electric in New York after the war, he was able to get in on the beginning of the semiconductor industry. In 1960, he moved to Costa Mesa, Calif., to work in semiconductors for Hughes Aircraft. He invented a piece of semiconductor production equipment and, along with two friends, started the Orthodyne Electronics Company to manufacture and sell the equipment. He is the holder of six patents and retired from the company in 1990. He is a past president of the Kiwanis Club of Costa Mesa.

While attending the University, John was a member of the Sigma Nu Fraternity and Tau Beta Pi, the engineering honor society. He and Pearl are lifetime members of the Arkansas Alumni Association and contributors to the new alumni house. John is also presently a member of the Arkansas Academy of Mechanical Engineers at the University. The Larrisons were recently inducted into the University’s new cumulative giving society, the Towers of Old Main. They have a daughter, Mary Sola of Costa Mesa, Calif., and a son, John C. Larrison of Huntsville, Utah, and three grandchildren.

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