Chapter Fifteen: 1997–1998 265
parking fines in excess of $250.00. As a result, we collected over $100,000 more in
parking fines than in previous years. Therefore, we have the funds to pay for a consul-
tant,” which she estimated would cost $40,000.
The December 1997 issue of Wake Forest University Magazine reported that
membership in the major gift clubs had more than doubled in the last seven years. It
now stood at 2,600 members.
The Calloway School of Business and Accountancy was awarded a $125,000
grant from the James S. Kemper Foundation. Funded over five years, it supported
risk-management education and research.
A scholarship fund for international students was established in honor of former
Dean Robert Dyer and his wife, Mary, in March 1998. In addition, the University cre-
ated 175 merit-based scholarships of $2,000 each for international studies as part of
the Plan for the Class of 2000. The Kutteh Family Scholarship was awarded for the
first time to Jonathan Steven McKinna of Statesville.
Hickory native Sanford L. Steelman endowed the Margaret A. Steelman Lecture-
ship at the School of Divinity in honor of his wife. It was the first endowed lecture-
ship for the school and supported a focus on Judeo-Christian topics. The Henry R.
Luce Foundation, Inc., awarded the school $150,000 to develop a series of multidis-
ciplinary courses designed to provide students with the broad skills required to meet
the needs of America’s changing congregations.
WFDD raised more than $228,000 during its fundraising campaign in October.
In January, it once again aired the weekly variety show A Prairie Home Companion,
and on May 22 it hosted its fiftieth anniversary celebration, honoring the pioneers
who founded it and those who helped it develop. Jack Thomas, station manager for
1951–1952, and Julian Burroughs, station manager for 1958–1981, were among the
special guests.
As a community-building venue for families on both campuses, Graylyn Pool
received scheduled improvements costing $350,000. Repairs included a completely
new pool and pool deck, updated or replaced filter and drainage systems, addition
of an up-to-code handrail system, and a renovated
The University Police bought three new vehi-
cles: two GEO Trackers for parking management to
replace two 1973 postal Jeeps, and a new twelve-
passenger van to replace an older seven-passenger
University Shuttle van. More students were taking
advantage of the shuttle service, according to Police
Chief Regina Lawson.
The University’s endowment grew by $137
million from July 1, 1996, to June 30, 1997, for a
total of $614.7 million, according to Lou Morrell,
Vice President for Investment and Treasurer. The
rate of return was 28 percent. Morrell stated that
since June 30, 1990, when the endowment was
$318 million, it had almost doubled. In a parallel
event affirming Morrell’s expertise as an investor,
Lou Morrell
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