Planned Gifts in Engineering, Business Fund Scholarships and Student Success

Jack R. Jacobs came to the University of Arkansas based on a recommendation from a good friend, Louis Shackelford, who was also an alumnus. That recommendation turned out to be a great one, because Jacobs graduated from the Sam M. Walton College of Business in 1951 and enjoyed a career as president of L.A. King Corp. in Tulsa.

Because of his experiences on campus and successful career that followed, Jacobs has made several gifts to the university that he refers to as his "payback."

"I've been blessed," he said. "So, I wanted to help other people."

Jacobs chose to make these gifts through a charitable remainder trust and a bequest.

In 2013, a $1 million gift from Jacobs created the Dana Jacobs Memorial Endowed Scholarship in the College of Engineering, thanks to a charitable remainder trust. The gift, which was designated to the department of electrical engineering, is earmarked for supporting students in the department who have a financial need and the academic ability needed to succeed.

Terry Martin, vice chancellor for academic affairs, said of the gift, "There is a definite need to educate more young engineers in this vital field, and this gift will allow us to do just that. It is exciting to think of the number of students who will benefit from his generosity."

The scholarship was named in honor of Jacobs's middle son, Dana, who passed away in 2000. Dana worked in the electrical engineering field, which is why Jacobs felt compelled to choose that designation. In 2011, Jacobs made a planned gift to the Dorothy E. King Equine Program, also in memory of Dana, because of his love for horses.

In 2016, Jack and his wife, Betty, created an endowed scholarship fund in the Sam M. Walton College of Business with a $500,000 bequest. The Jack and Betty Jacobs Endowed Scholarship Fund will support business students in the college with consideration given to financial need and academic ability.

"Jack and Betty's gifts are perfect examples of how planned giving can provide multiple options for donors who wish to make a difference at the university during their lifetime," said George Lensing, associate director of planned giving. "Each time we work with a donor, we take their financial and estate needs into consideration while helping them identify the areas of campus they're most passionate about supporting."

Jack and Betty Jacobs are members of the Arkansas Alumni Association, the Heritage Society, the Chancellor's Society and the Towers of Old Main, a giving society for the university's most generous benefactors. They are also counted as Thoroughreds for their eight years of consecutive giving to the U of A.