FAYETTEVILLE, Ark. – University of Arkansas alumnus Wood Kaufman believes that education is the most important component in creating a better and stronger society. He and his late mother, alumna Sherry Wood, are making it possible for more students to receive that education by creating a new scholarship in the Sam M. Walton College of Business.

The Sherry Wood and Wood Kaufman Endowed Scholarship will specifically assist freshmen finance majors, thanks to their $500,000 gift.

“This is an extremely generous gift for an endowed scholarship,” said Matt Waller, dean of the Walton College. “The scholarship, which covers the cost of attendance for a finance student, is life-changing and is an amazing legacy for Sherry and Wood. I appreciate their passion for education, the Walton College and the U of A.”

Not many parents and children can say they attended college at the same time, but Wood and Kaufman have this distinction. While Kaufman was earning his bachelor’s degree in finance from the Walton College in the late ’80s and early ’90s, his mother was completing her Master of Education degree, after having already graduated years earlier with a Bachelor of Science in Education.

Kaufman went on to become the co-owner and chief executive officer of TBS Factoring Service LLC in Oklahoma City, where Wood also served as co-owner. The two started the business and said they enjoyed being able to provide job opportunities for others. Kaufman credits his education from the U of A with preparing him for the role.

“The Walton College is becoming one of the best public business colleges in the nation,” he said. “It’s fantastic, and it helps the entire state. It’s nice to see the university and college you attended doing better each year. It makes me proud and incentivizes us to continue to provide support.”

The Sherry Wood and Wood Kaufman Endowed Scholarship will support incoming freshmen who major in finance and demonstrate financial need. The scholarship will be renewable for an additional three years as long as the student is making acceptable progress toward their degree and maintains a certain grade point average.

Reflecting on the scholarship, Kaufman said, “My overwhelming response to all of the things going on in the world is that kids need to be better educated. I really believe that the more we can educate our students, the more opportunities they will have and the better it is for society. Education, as a whole, should be a bigger focus for society.”

Kaufman’s mother, who passed away in September 2021, shared her son’s sentiment. She believed that knowing how a business worked could give students an important advantage in the workforce.

Thanks to their gift, more Walton College students will have this opportunity.

Kaufman resides in Oklahoma City and is a life member of the Arkansas Alumni Association. Prior to her passing, Wood was counted as a Thoroughred for her 17 years of consecutive giving to the U of A.

About the University of Arkansas: As Arkansas' flagship institution, the U of A provides an internationally competitive education in more than 200 academic programs. Founded in 1871, the U of A contributes more than $2.2 billion to Arkansas’ economy through the teaching of new knowledge and skills, entrepreneurship and job development, discovery through research and creative activity while also providing training for professional disciplines. The Carnegie Foundation classifies the U of A among the top 3% of U.S. colleges and universities with the highest level of research activity. U.S. News & World Report ranks the U of A among the top public universities in the nation. See how the U of A works to build a better world at Arkansas Research News.