FAYETTEVILLE, Ark. - The chairman of University of Arkansas National Development Council and chairman of the UA Foundation, Inc., will provide nearly $500,000 for the establishment of scholarships in the Sam M. Walton College of Business.

The Curtis Shipley Endowed Chancellor’s Scholarships will be used to encourage outstanding undergraduate students to pursue a college education in the Walton College.

"Over the years I've been privileged to be connected in many ways with the University of Arkansas," said Shipley, retired vice chairman of Shipley Baking Company, and a 1955 UA graduate in business. "I've been waiting to do something financially for awhile, and I am finally in a position to be able to make this gift."

An active member of the University community, Shipley has been a member of the National Development Council since 1982. When Shipley was elected NDC chair at the end of the 1996-1997 fund-raising year, the U of A received $20.3 million in private gift support. In the 1999-2000 fund-raising year, the University received $83.2 million in private gift support. The NDC is a volunteer organization that supports and advises the University in developing, enhancing and strengthening its academic and research programs.

Vice Chancellor for University Advancement G. David Gearhart said, "Curtis has been an exemplary leader and has been generous with his time, energy and resources to help advance our development programs. His longtime service to the University of Arkansas demonstrates his personal commitment to seeing this institution emerge as a nationally competitive, student-centered research university serving Arkansas and the world. This gift will go a long way to help us realize our vision and we are thankful for Curtis’ support."

He was chair of the Campaign for Old Main - Washington County Committee, a former Arkansas Alumni Association board member and a member of the Alumni House Building Committee. He is a member of the Chancellor’s Society. In 1995, Shipley was the recipient of the Arkansas Alumni Association’s Andrew J. Lucas Service Award and in 1993 he received the Volunteer of the Year award.

As an undergraduate student, Shipley was an active member of the Commerce Guild, the student governing body of the Walton College at the time. He was president of the Blue Key - a campus leadership group - president of the Marketing Club and a member of the Sigma Alpha Epsilon fraternity.

UA Chancellor John A. White said, "We are thankful that Curtis has chosen to commemorate his campus experience by providing qualified students the opportunity to study in the very college from which he graduated. Curtis has been committed to and engaged in the success of the University of Arkansas for many years. His investment in this institution will ensure that we continue to attract the highest caliber of student for generations to come."

Shipley’s gift comes to the University in the form of a charitable remainder unitrust.

Walton College Dean Doyle Z. Williams said, "One of our goals is to increase the quality of our student body. Curtis’ gift will ensure that are able to recruit top students that will go on to make contributions to Arkansas business. We are very grateful for his generosity and his impact on the future of the Walton College."

Shipley’s service to the Northwest Arkansas community has been extensive. He has been a member of the Bank of Fayetteville’s board of directors and is a past chair and member of the Fayetteville Chamber of Commerce. He is an active member of the Central United Methodist Church. He is also a 28-year member of Washington Regional Medical Center’s board, a member of the Fayetteville Advertising and Promotion Commission and the Beaver Water District board.

In fiscal year 1999-2000, the Walton College received $9,745,970 in private gift support. The sources of those funds were as follows.

. 21.5 percent was from individuals

. 36 percent was from corporations and foundations

. 42.5 percent was in the form of bequests

Shipley has two grown sons, Neil Shipley and UA alumnus David Curtis Shipley, and two grandchildren.