News from Arkansas State University For Release: November 14, 2002 |
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University Communications Office Jonesboro, Arkansas Staff: Tom Moore Straley Snipes Sherdonna Bragg 870-972-3056 fax 870-972-3069 Send mail: ASUnews@astate.edu Links: List of News/Announcements Upcoming Public Events About ASU ASU Home Page |
Estate
gift from James Thompson, '44, will provide special opportunities James L. Thompson was always going places . . . his career as an aircraft pilot kept him on the move. His devotion to Arkansas State University and his generosity will help keep many others on the move for years to come. He probably would be pleased to know that all those hours he spent at the controls of an airplane would help make it possible for needy students to pursue higher education, and for faculty members to pursue their research projects. Thompson, who died in spring 2001, was a retired airline pilot living in Houston, Texas, and a 1944 alumnus of what was then Arkansas State College. ASU has received an estate gift of approximately $2.8 million as a result of Thompson’s financial planning, Dr. Les Wyatt announced today. "We are grateful to acknowledge Mr. Thompson’s generosity and his vision for helping others," Dr. Wyatt commented. "In accordance with his expressed wishes, the interest from this endowment gift will provide $80,000 in student scholarships and $50,000 in faculty research scholarships each year. This gift will have long-term impact in the lives of students and faculty for decades to come." When he designated Arkansas State University in his will, Thompson became a charter member of the Legacy Society, the group organized by the ASU Foundation Inc. to recognize donors of planned gifts. Providing a lasting gift of support to his alma mater where he had received his education was an honor, he said in a 1994 interview. "When I graduated, I never dreamed I would be able someday to make a financial gift to Arkansas State University," he said. "I am happy to have this opportunity." After retiring in December 1985 as a captain for Delta Air Lines, he attended a financial planning seminar and learned about the positive tax benefits. With assistance from a financial advisor, he set up a charitable remainder annuity trust and named ASU as the beneficiary. The trust had several financial benefits with which he said he was very pleased, while providing the assurance of a significant gift to the university. His graduation is a story in itself -- raised by a relative, finishing college at age 18, being one of the few males in his war-time graduating class, then facing the uncertainty of military service. Yvonne Forgey (Puddin’) Richardson raised Thompson as her own son. Growing up on Cate Street in Jonesboro, he attended grades 1-12 at the ASC Training School, which was operated for local children by Arkansas State College. His favorite teacher was Emma Rogers. He proceeded quickly, finishing 12 grades in nine years, then entered college in the fall of 1940 shortly before his 15th birthday. A year later, just weeks before the attack on Pearl Harbor, he enrolled in Reserve Officer Training Corps. He recalled that he was one of the few male students left on campus as World War II erupted the next year. In preparation for his inevitable military service, Thompson majored in engineering and minored in mathematics and military science. He even began flight training, making his first solo flight in 1943 in Jonesboro. Soon after his June 1944 graduation from Arkansas State College, the 18-year-old Thompson joined the Navy and served for eight years as a flight officer in the Naval Air Transport Service. The military flight training prepared him well for a career as a commercial airline pilot. His first job was with Chicago and Southern Airline, which later merged into Delta Air Lines. In the 1994 interview, he fondly recalled his experiences as pilot, emphasizing his good fortune to have never had an accident. "One day in the early years, I was flying as a DC-3 co-pilot on the Memphis, Shreveport, Houston route," he recalled. It was tornado season. We left Shreveport and flew right into a storm." The challenge came so quickly, there was not much he could do. "We couldn’t climb up and fly over it," Thompson said, so they just kept going. "I was too busy to get scared." During his 30-year career as a pilot, he accumulated more than 25,000 hours at the controls. Thompson felt fortunate that the planes he flew always performed well. "In all those years, I experienced engine failures only twice," he remembered. His professional activities included the Airline Pilots Association. He also was a member of Free and Accepted Masons, Scottish rite, Arabia Temple Shrine. In retirement, he enjoyed using a computer. Students wishing to apply for the scholarships should apply through the Office of Financial Aid and Scholarships in the Chickasaw Building on Caraway Road. Criteria for the Thompson Faculty Research Scholarships will be established through the Office of Academic Affairs. Anyone who would like more information on the benefits of charitable remainder trusts should consult their financial advisor or Dr. Deborah Turner, director of planned giving at Arkansas State University, 870-972-3942. # # # |
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