Garrison Family Establishes Finance Chair in Walton College; Takes Campaign Over Challenge Goal

FAYETTEVILLE, Ark. — Six members of the Garrison family have pledged $2 million to help build a comprehensive and nationally competitive financial services industry in the state of Arkansas. Their gift will fund a chair in the finance department of the Sam M. Walton College of Business, University of Arkansas.

The Garrisons’ gift takes the University of Arkansas Campaign for the Twenty-First Century over the $300 Million Challenge, the effort to match a $300 million challenge grant from the Walton Family Charitable Support Foundation. As of April 30, 2005, the Campaign total stands at $930.5 million in gifts and pledges.

 Professor Wayne Y. Lee will be the first holder of the Garrison Chair in Finance.

 Daniel and Julianna Garrison, Thomas (Tom) and Natalie Garrison, and William (Will) Garrison and his fiancée Joana Heimel have pledged combined resources of $2 million. Their gift will be matched by $2 million from funds available through the University of Arkansas Matching Gift Program to create a $4 million endowment. The Garrison Chair in Finance will support investment research and fund the creation of the Garrison Financial Institute, which was approved by the University of Arkansas Board of Trustees on April 22 and the Arkansas Department of Higher Education on April 29.

The Matching Gift Program, made possible by the Walton Family Charitable Support Foundation’s $300 million gift to the U of A in 2002, supports selected academic positions in fields that have the greatest potential for enhancing economic competitiveness and quality of life in Arkansas and elevating the university to international prominence.

UA Chancellor John A. White said, “This is a wonderful example of a family coming together to help the university build a nationally competitive, student-centered research university serving Arkansas and the world. We appreciate the leadership and generosity of the Garrison family in supporting the creation of the Garrison Financial Institute. We are also pleased that this gift marks the achievement of another key milestone in our Campaign for the Twenty-First Century meeting the $300 Million Challenge.”

Walton College Dean Doyle Z. Williams said, “This amazing gift will enable the Walton College to serve as a foundation and a catalyst to support Arkansas’ financial services industry with investment research, a personal finance program and highly qualified talent. We are deeply grateful to all of the Garrisons for their support.”

“Their gift carries on a family tradition of major investment in higher education. In 2002, their father, Walton College alumnus Sheridan Garrison, provided the funds for the Garrison Chair in Supply Chain Management in the college,” Williams added. Sheridan Garrison founded American Freightways Inc. at Harrison, Ark., in 1982, and the company was purchased by FedEx Corp. in February 2001.

G. David Gearhart, vice chancellor for University Advancement, said: “This is outstanding news for us on the heels of two major announcements in the month of April. We are thankful to the Garrisons for their commitment to the Campaign for the Twenty-First Century and for securing the $300 Million Challenge. The Challenge has been a monumental undertaking but at the same time has been a key ingredient to reaching toward $1 billion. We are most grateful to the Walton family for issuing this challenge and are most pleased it has been met ahead of schedule. Many thanks to the generous support from alumni, friends, corporations and foundations that have helped us raise the $300 million match.”