Chapter Eleven: 1993–1994 189
Charles R. Tatum (’36) and Francis Tatum
Council donated $750,000 to the University. It
was first used in the Poteat scholarship pro-
gram and later transferred to the Divinity
School. William A. Collins (’61) and his wife,
Sue, donated a rather large sum to Wake For-
est, establishing a $2.1 million trust to provide
scholarships for students from Virginia. In
recognition of this gift, South Residence Hall,
built in 1985 and housing 220 students, was
renamed Collins Hall and dedicated on March
31. A portrait of William Collins was hung and
bolted to the wall in the front hall after having
“toured the building” for a week, when several
mischievous first-year students thought the
portrait would be interested in “a bird’s eye
view of the elevator, the study lounge, and the
first-floor women’s bathroom.”
The Guy T. and Clara Carswell scholar-
ship program turned twenty-five years old. For many years, it was not just the first
but the only need-blind merit scholarship program at Wake Forest and had dis-
persed some $5.25 million in 2,300 awards to 729 students. A reunion of Carswell
scholars was held in late March and included a College Bowl competition between
alumni and current scholars as well as a Raft Debate in which three professors,
hypothetically standing on a raft, each described why his or her discipline was the
most important.
Wake Forest was one of only nine private comprehensive institutions out of 149
eligible institutions named to the 1993 Circle of Excellence in Educational Fund Rais-
ing by the Council for the Advancement and Support of Education (CASE). Total
giving to Wake Forest was $22 million in 1989–1990; $27 million in 1990–1991; and
$28 million in 1991–1992.
The administration proposed a $25 million bond issue plan to the Board of
Trustees. Of the total, $12 million would be used to up-fit and repair endowment real
estate, which was required for recent lease changes, and $13 million would be used to
renovate Tribble Hall and residence halls on the North Campus. When the proposed
projects were finished, the Reynolda Campus would have $30 million worth of bond
indebtedness, and the Bowman Gray Campus $102 million. Federal policies allowed
universities to have up to $150 million in bonds. As of December 31, the market
value of the endowment stood at $410 million, and Heritage and Promise Campaign
pledges stood at just over $142 million. Faculty support and student financial aid
were the campaign’s main priorities.
Tuition for 1994–1995 was set at $13,850, a 6.5 percent increase. It was the ­
smallest increase since 1976. Tuition had risen 11.1 percent in 1992 and 8.3 percent
in 1993. John Anderson said an 8 percent increase in student financial aid and a
5.5  percent overall increase in faculty salaries were the largest factors in determining
the tuition increase. The fee for an official transcript was raised to $4.
William Collins
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