McFarlands make $1 million pledge to UAFS Foundation

story submitted by the University of Arkansas at Fort Smith

Kim and John McFarland of Fort Smith have made a $1 million pledge to the University of Arkansas at Fort Smith Foundation to benefit three scholarship endowments at the university.

The $1 million from the McFarlands brings UAFS to a $37.5 million total in a $50 million campaign expected to culminate next year. The gift was announced with a champagne toast at a meeting Feb. 3 of the UAFS Foundation Board, of which McFarland is a member.

The McFarland gift will provide scholarships for business, health sciences and engineering majors at UAFS. McFarland, former chief executive officer and chairman of the board at Baldor Electric Co., believes in Fort Smith and in UAFS.

“We both grew up in Fort Smith and are strong supporters of the community,” said McFarland. “I went to UA Fort Smith, and when I was there, somebody helped me with the expense of going to school. I couldn’t afford it at the time, so I’m pleased to be in a position to help someone else.”

The McFarlands are also impressed by something Benjamin Franklin did in 1790. John McFarland said Franklin’s will left $4,444.44 to establish a trust to make loans to “young married apprentices” who couldn’t afford to go to school. That trust benefited students for 200 years before being terminated in 1990 per Franklin’s original instructions. At termination, it was worth $5 million.

“We are impressed that our gift could possibly benefit students and our community for 200 years, like the one Franklin made in 1790,” McFarland said.

The prestigious engineering scholarships will be designed to recruit engineering students and are based on leadership and volunteer activities and have both ACT and grade-point minimums. They will provide full tuition and fees, $1,000 in books per year, and $2,000 housing allowance. The business and health sciences scholarships will be based on financial need and are open to any majors in the College of Business and the College of Health Sciences who meet the academic criteria for those programs.

Dr. Paul B. Beran, chancellor at UAFS, said the McFarlands’ generosity shows their commitment to Fort Smith as long-time residents and as supporters of the community and the university.

Dr. Marta Loyd, vice chancellor for university advancement, said the McFarlands have been long-time donors, including a gift associated with the building and furnishing of the Baldor Technology Center at UA Fort Smith, as well as previous scholarships for business students.

Loyd also said the announcement of the gift is being made for only one reason: “They don’t want or seek recognition,” she said. “They have allowed us to announce this gift in the hopes that it might encourage someone else to step up and participate in this campaign.”

The Giving Opportunity campaign at UAFS began in 2004 and focuses in four areas — endowed scholarships; faculty support in the form of chairs, professorships and opportunities for professional development; technology and instructional equipment; and a library expansion.