During the annual meeting of the Walters State Foundation Board of Trustees on Monday, May 20, at the college’s Sevier County Campus, it was reported that the foundation’s net asset balance is just over $15 million, representing the organization’s highest balance since 2006.
Of this amount, the foundation recently received over $1.4 million from the estate of the late Wilma Maples of Gatlinburg to establish endowed scholarships for students attending the Walters State Sevier County Campus. Maples, a businesswoman who owned the Gatlinburg Inn, was a major donor and supporter in the development of the Walters State Sevier County Campus.
“Mrs. Maples was an amazing, selfless individual who is greatly missed by the Walters State family,” said Walters State vice president for academic affairs Dr. Lori Campbell in her remarks to trustees.
It was also reported that 227 students attending Walters State received Walters State foundation scholarships for the 2012-13 academic year. A total of $1.9 million in scholarship assistance has been provided by the foundation for students attending Walters State during the last five years.
Several individuals were recognized during the meeting with the unveiling of their portraits: Ronnie E. Sartain of Jefferson City; the late Vivian Litz Merhoff and Henry Merhoff of Morristown, and the late Ruth Stokely and John H. Stokely Jr. of Cocke County. Their portraits will be hung in the President’s Trust Gallery at Walters State’s Morristown campus.
In other foundation business, new officers were elected. Linda Ogle, businesswoman from Pigeon Forge, will remain as president of the foundation for 2013-14. Other elected foundation officers include Glenn B. Thompson, a certified public accountant from Morristown, as vice president; H. Scott Reams, an attorney from Morristown, as secretary, and Dr. Mark Hurst, associate vice president for college advancement at Walters State, as treasurer.
Also during the meeting, Campbell thanked trustees for their support of Walters State.
“As a trustee, you are instrumental in the college’s ability to meet its mission to provide affordable higher education opportunities to residents of this community,” said Campbell.
“Walters State is truly blessed to have the support of such a visionary and generous board of trustees,” she also said.