Stetson University has received $5.5 million in estate gifts to fund scholarships for students majoring in business or preparing for careers in health care.

The major gifts come from the estates of C. Emory and Jeanne Smith, longtime friends of the university who lived in Orlando. Although the Smiths did not attend Stetson, their niece, Norma Jean Prevatt, was a student at the university for a time in the 1950s.

C. Emory Smith was originally from Seville, Fla., and Jeanne Smith was from the Holopaw/St. Cloud area. During their professional careers, Emory established and eventually sold a successful dry cleaning business in Orlando, and Jeanne worked in the health care industry, continuing as a hospital auxiliary volunteer after retirement. They invested in the stock market and some real estate.

“They worked hard and lived modestly, and their philanthropy benefited a number of charities over the years,” said Kate Pearce, director of Gift Planning at Stetson.

The Smiths directed a significant portion of their estates to support students who might not otherwise have the financial resources to attend Stetson. Working with their professional advisors, Emory and Jeanne each established a charitable remainder trust. Emory’s trust was designated for a permanent scholarship to benefit business majors, and Jeanne’s trust established a permanent scholarship for students preparing for careers in health care.

Emory passed away in 2009; his legacy lives on through the Charles Emory and Jeanne C. Smith Scholarship for business majors, which was funded with more than $4 million from his charitable trust. Jeanne passed away in 2011, and her trust has recently distributed $1.5 million to establish the Jeanne C. Smith and C. Emory Smith Endowed Medical Education Fund at Stetson.

The gifts have been invested and a board of trustees-approved portion of the earnings will be used for scholarships each year. Some of the awards will start this fall semester, and the remainder will begin in fall 2013.

“Through their generous philanthropy, Emory and Jeanne Smith established a meaningful legacy that will provide significant resources to countless Stetson students for generations to come,” Pearce said.

Stetson has a program – the Stetson Society – through which the university recognizes those individuals who have provided for its financial future through their estate plan or by establishing a permanent endowed fund. Stetson Society members establish meaningful legacies through their loyal and dedicated support. More information about the Stetson Society is available online at: https://www.stetson.edu/administration/plannedgiving/stetsociety.php.