The J.E. and L.E. Mabee Foundation of Tulsa has donated $1.5 million to University of the Ozarks in Clarksville.
The private, four-year liberal arts university said it will use the money to create an endowed scholarship fund for students.
The foundation made the donation in conjunction with its 75th anniversary. The scholarship will support full-time students who come from Arkansas, Oklahoma, Texas, New Mexico, Missouri or Kansas and who have a minimum 3.0 grade point average, the university said in a news release.
“We are extremely grateful to the Mabee Foundation for investing in the success of Ozarks students through the creation of the J.E. and L.E. Mabee Endowed Scholarship Fund,” University President Richard Dunsworth said, adding that the money will help remove financial barriers for students, facilitate on-time graduation and help reduce student debt.
The scholarships will be worth at least $10,000 annually and will be awarded to as many as seven students, the university said.
The Mabee Foundation has donated to the university since the 1950s when it provided money for the Mabee Gymnasium. The foundation has also supported the Mabee Administration Building, Mabee Residence Hall and Wilson Science Center.
The Mabee Foundation was formed in 1948 by Missouri natives and Oklahoma residents John and Lottie Mabee. Since its formation in 1948, the foundation has made grants totaling over $1.5 billion. It exclusively funds projects in Texas, Oklahoma, New Mexico, Arkansas, Missouri and Kansas.
University of the Ozarks reported enrollment of 784 students in fall 2022.