(Neb.)-Chadron State College Foundation Receives $500,000 Scholarship Gift
(CHADRON)-The Chadron State College Foundation received a $500,000 scholarship gift from Frances Hess Richards this week, according to Connie Rasmussen, executive director of the foundation. The gift will be added to the existing endowed scholarship established by Richards and her late husband, Wilber “Eby” Richards, in 1995.
Richards, who is 97, lives in Scottsbluff and has a rich history as a donor to CSC. She has given $30,000 in annual scholarships in addition to establishing the Frances Hess and Wilbur “Eby” Richards endowment for elementary education majors.
Rasmussen said she was pleased that Richards has chosen to express her fondness of CSC and support of students with such a generous contribution. Richards said she still enjoys the college and appreciate the hospitality she receives when visiting. The Richards’ gift is a partial distribution of her Living Legacy commitment.
An endowed scholarship is one in which the principle remains intact and only the earnings are distributed to students, while an annual scholarship is one in which the full amount is awarded to students. Living Legacy members are those who have indicated that CSC is included in their estate plans.
Due to the nature of an endowment, students will first be able to apply for the scholarships generated by the new gift in the spring of 2015. Those awards will be credited to students’ accounts in the 2015-2016 Academic Year.
While working at the Reta E. King Library, Richards met her husband, who was working for the Federal Aviation Administration at the Chadron airport. He later joked that he went to the library for a book and came out with a librarian. He proposed on “C” Hill, and they were married in 1955.
--CSC Information Services
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