342 The History of Wake Forest
In financial matters, three PepsiCo executives, Donald M. Kendall, Roger A.
Enrico, and Steven S. Reinemund, contributed a total of $500,000 to support the
Calloway School of Business and Accountancy. The gift was used to create the Four
Chairmen’s Bridge, an arched bridge with wrought iron railing that would define the
main entrance to the Calloway School. The bridge was named for each of the three
donors and the late Wayne Calloway (’59), chair and CEO of PepsiCo, Inc.
The Annenberg Foundation awarded $250,000 to the Presidential Scholarship
program, which rewards students with extraordinary talent in the areas of dance,
writing, music, theatre, studio art, community service, debate, entrepreneurship,
and leadership. In recognition of the gift, one of the scholarships was renamed the
Annenberg Presidential Scholarship.
With a gift of nearly $7 million from the estate of the late barbecue restaura-
teur William Keith Stamey of Greensboro, who died in June 2000, the University
established scholarships ranging from $1,000 to $15,000, depending on need, to
assist sixty-two freshmen and returning students. It was the largest single gift made
to Wake Forest by an individual, according to James Bullock, Director of the Uni-
versity’s Honoring the Promise capital campaign, and it established the University’s
fourth-largest endowed scholarship fund, after the Reynolds, Carswell, and Hankins
Wachovia Bank gave a $2 million gift to the Babcock Graduate School of Man-
agement to endow the Wachovia Scholars program, which aimed to increase student
diversity. It provided up to 100 percent of tuition, books, and room and board costs
for six full-time MBA students from underrepresented groups.
The F.M. Kirby Foundation donated $5 million for the four-story Kirby wing of
Calloway Hall; groundbreaking took place on October 4. The Kresge Foundation also
made a $750,000 commitment. The expansion would allow the Computer Science
and Mathematics Departments to house all of their classrooms and faculty offices in
Calloway Hall, and the Calloway School of Business and Accountancy would have its
own space for the first time. In the last eight years, Calloway enrollment had increased
33 percent, and its faculty had increased by 50 percent, making space increasingly
tight. The total cost for the expansion would be $14 million.
The front of the Calloway building, facing the Magnolia Court, was renamed
in honor of Doug and Elizabeth Manchester, who made a substantial contribution