Scholarship Gift Has Challenge for Smeal College Alumni

Richard Squires and his wife, Pamela, of Dallas, have made a challenge gift in support of scholarships for undergraduates in Penn State's Smeal College of Business. The Squires will donate up to $100,000 on the condition that Schreyer Honors graduates of the Smeal College and Accounting Honors graduates contribute a total of $500,000 in new scholarship funds. "I gained an enormous amount from the Accounting Honors program at Smeal," says Richard Squires, who earned his bachelor's degree in accounting in 1979. "It prepared me to be successful in business and life. I know that others feel the same and will give back to help undergraduate students." The Squires' gift will endow a Trustee Scholarship. Unlike other scholarships, contributions to the Trustee Scholarship program are matched by funds from Penn State, adding 5 percent of the original gift each year to the spendable income from the endowment. For the full story by Andrew Krebs, visit http://www.smeal.psu.edu/news/releases/dec02/squires.html?nf2