April 12-18, 2002
Vol. 32, Issue 13
Back Issues
IN THIS ISSUE
U.Va. gets $52.6 million gift
University sets stage for graduate student innovation
State cuts force hikes in tuition
Faculty Actions from the April BOV meeting
African-American women at increased risk for stroke
Commerce school cultivates innovation and creativity in wine industry

Reactions to Sept. 11 featured in annual ‘Muzzle’ Awards

Baseball field named in honor of the late Ted Davenport
Graduate students are lifeblood of research enterprise
Theater students ‘saw’ a solution for set construction
Lectures engage the mind
Design choices can affect the world environment
Students get one-stop financial services at new Cavalier Central
Feeding hungry ghosts
Whale of a sculpture on display at Fayerweather
After Hours -- Lori Derr
WFPA to honor Bunker, Toms and Black
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U.Va. gets $52.6 million gift
Bequest from Law alum to generate $2.5 million a year for Medical Center

By Bill Sublette

The University has received the second largest gift in its history, President John T. Casteen III announced April 5. The $52.6 million bequest from Ward Buchanan, a 1914 graduate of the Law School, will create an unrestricted endowment fund for the Medical Center.

To be known as the Buchanan Fund, the endowment will be invested to generate income for the University’s hospitals and clinics. Initially it will produce approximately $2.5 million a year for the Medical Center, although that amount is expected to increase as the endowment’s assets grow.

The gift is the result of estate plans made more than 60 years ago by Buchanan, a retired Procter & Gamble executive who died in 1942. Buchanan stipulated in his will that a trust be created to provide income for his close and extended family and, after the death of his last surviving heir, to establish the Ward Buchanan Fund for “hospital purposes” at the University. After the recent death of Helen Hackwell, one of Buchanan’s cousins and the last income beneficiary of the trust, the University received the trust’s assets.

“This is a remarkable gift,” Casteen said. “More than a half-century ago, an alumnus whom we did not have the privilege of knowing provided for his heirs in his estate plans. At the same time, and with exceptional foresight, he made the University the ultimate recipient of his legacy. From this thoughtful act, we now have a substantial and perpetual source of support for the advanced level of care that only an academic medical center can provide. We are grateful for Ward Buchanan’s generosity and for his commitment to the future of health care at the University.” Full story.


University sets stage for graduate student innovation

Photo by Rebecca Arrington
For third-year graduate students Nate Otto (center) and Tom Hackman, invention and ingenuity were at the heart of a research partnership to improve the safety and quality of life for drama students at U.Va. The two developed a frame-mounted tool, the Huskey Saw (shown here), which makes designing theater sets safer and easier. See Theater students ‘saw’ a solution for set construction.

State cuts force hikes in tuition

Staff Report

Money — or the lack thereof — dominated the April 4-6 quarterly meeting of the
U.Va. Board of Visitors.

The governing body sought to address state budget cuts with an 8.8 percent tuition increase, but still heard appeals for funding to prevent a faculty exodus and increase graduate student support. Meanwhile, Medical Center revenues are barely exceeding expenses through the first eight months of the fiscal year.

Tuition increase follows state trend

The board put its official stamp on anticipated hikes in tuition and mandatory fees by voting to increase rates 8.8 percent for in-state undergraduate students, bringing the total cost to $4,608. (See chart below.)

U.Va. joins the state’s other colleges and universities in increasing tuitions after years of an in-state tuition freeze. Virginia Tech, James Madison and Radford universities have hiked in-state tuition rates by 9 percent; George Mason raised tuition and mandatory fees by 16.5 percent. Full story.

 

© Copyright 2002 by the Rector and Visitors of the University of Virginia

News Publications Editor
Dan Heuchert

News Graphics Editor
Rebecca Arrington

Senior Editor
Anne Bromley

Director, News Services
Carol Wood

Contributors
Robert Brickhouse
Charlotte Crystal
Jane Ford
Lee Graves
Matt Kelly
Elizabeth Kiem
Fariss Samarrai
Bill Sublette

Web Editor
Karen Asher




Send questions or story suggestions to Dan Heuchert or Carol Wood or call (434) 924-7116.

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