Fayetteville Man's Gift to Fund A-State Scholarships

by Arkansas Business Staff  on Monday, Dec. 3, 2018 11:47 am   1 min read

Jim Smalley of Fayetteville has named Arkansas State University the beneficiary of one of his retirement savings funds, currently valued at $1.3 million, through his will.

A financial analyst in the Neil Griffin College of Business, Matthew Hill, has projected the fund will grow to almost $8 million by the year 2040. It will generate an endowment income sufficient to support about 25 scholarship awards per year, according to Hill.

Smalley earned his bachelor's degree in business from A-State in 1976. His gift will fund scholarships.

As a student at A-State, Smalley was active in the campus chapter of Sigma Phi Epsilon. He retired as owner and president of Union Capitol Finance Corp.

Smalley has specified that financial need must be a major consideration when recipients are selected. Incoming students from Jessieville High School will get top priority, followed by Corning High School graduates, then other incoming Arkansas freshmen.

The scholarships will be given in Smalley’s name and in the name of his late son, Beau Smalley. Beau was a graduate of Jessieville High; Jim is a Corning High graduate.

To be eligible for the scholarships, applicants must have either a 3.0 GPA in high school or an ACT score of 24 or higher. Incoming students may access the financial aid/private scholarships web portal on Dec. 1 each year, with the deadline to submit their applications, resumes and essays on Feb. 1.

The selection committee will review those materials and recommendations made by the high school counselor or principal at Jessieville and Corning. Recipients will be announced in the spring before incoming students begin their freshman year in August.

 

 

Please read our comments policy before commenting.