The University of the Ozarks has received more than half million dollars from the Walton Family Charitable Support Foundation, nearly all of which will go toward funding student research, creative projects and career preparation, the university announced Wednesday.
The gift of $525,000 will honor a long-time former president of the university and a 22-year foundation board member, Rick D. Niece, the university news release states.
The Rick and Sherée Niece Endowment for Student Enrichment fund will receive $500,000, which will supply competitive grants to students for research, creative projects, internships or study abroad.
The remaining $25,000 will be allocated for the Lewis H. and Dortha J. Geyer Niece Scholarship Endowment Fund for performing arts and communications students. Lewis H. Niece and Dortha J. Geyer Niece are Rick D. Niece's parents.
The Walton Family Charitable Support Foundation has a history of supporting the University of the Ozarks. In 1998, when Niece was president of the university, the foundation gave the the university $39.5 million that paid for faculty and staff raises, dormitory renovations and other projects.