Release Date: 12/21/2006
Clarksville, Ark. --- Kate Boreham Maurras and Debra Boreham Vicharelli, daughters of the late Roland S. Boreham Jr., announced on Dec. 21 that University of the Ozarks was one of six entities that will be beneficiaries of the $24 million Roland S. Boreham Living Trust. It is expected that Ozarks will receive in excess of $2 million after final distributions are made from the trust.
Boreham, who died in February 2006, had a long tenure with Baldor Electric Co., most recently having served as Board chairman. The announcement of the gifts was made in a ceremony at the University of Arkansas-Fort Smith.
Maurras said the trust reflected her father’s pattern of giving.
“His life was predicated on service to the community and unparalleled philanthropy to non-profit organizations,” she said. “Debe and I are so pleased to announce our father’s last and lasting gift to the Fort Smith community. What a joy it brings, knowing that so many in our community will be touched by a man who we have always deeply loved and known as being very generous and special.”
U of O President Dr. Rick Niece said Ozarks will use its gift from Boreham to grow scholarships and to endow the Boreham Business Building.
“The reach and impact of Mr. Boreham’s gift will affect many generations as students are helped with scholarship opportunities and as they attend classes in the Boreham Business Building maintained by endowed funds from this gift,” Niece said.
Boreham was affiliated with the University of the Ozarks for more than 25 years and was a lifetime member of the University’s Board of Trustees. The Boreham Business Building on campus was named in his honor for his support of the University and its business program. Boreham also established an endowed scholarship for students.
“Rollie was, and continues to be, a true philanthropist,” said U of O Executive Vice President Steve Edmisten. “I have never met anyone with a better understanding of and belief in the joy of giving. Even though Rollie is no longer with us physically, his spirit and legacy live on through his caring generosity.”
Other charitable beneficiaries of Rollie Boreham’s Trust were First Presbyterian Church of Fort Smith, the Salvation Army in Fort Smith, United Way of the greater Fort Smith area, the Sparks Health System, and the University of Arkansas-Fort Smith.