Ferrum College is one four schools, members of the Virginia College Fund (VCF) consortium, to benefit from a $2,700,000 gift from the Guy E. Beatty Revocable Trust. The gift is the largest in the history of the VCF and the funds are designated to assist with scholarships and general support for member institutions, noted Jim Dill, VCF Executive Director. “This is a transformational gift for The VCF. We are grateful to Guy, his widow Betty, and the Beatty family for their long-term generosity and belief in a private college education. Guy was a long time board member and fully believed in our schools and the students they produce.” Mr. Guy E. Beatty passed away in 2013. He was President and CEO for the Beatty Management Company, located in McLean, Virginia. The VCF was one of several beneficiaries of his charitable trust.
Expressing his gratitude for the Beatty gift, Dr. David Johns, Ferrum College president, stated that, “Our students will benefit for years to come from this generous gift. Guy and Betty Beatty lived the Ferrum College motto, ‘Not Self, But Others’ through their deep faith and strong desire to help others. We are grateful for their inspiring gift, and for the VCF who assists us in our work of helping students complete their education.”
Disbursement of the Beatty Trust funds was based on the full-time enrollment figures of each institution with Ferrum College receiving $ 688,572, which will support financial aid for deserving students. In addition to Ferrum College, member schools include Averett University in Danville, Virginia, Bluefield College in Bluefield, Virginia, and Eastern Mennonite University in Harrisonburg, Virginia.
The VCF is in its 53rd year of assisting member schools who serve a unique demographic. Recent statistics show that 94% of these students are Virginia residents, 31% are minorities, 20% are among the first generation in their families to attend college, 49% come from low to moderate-income households, and 91% require some type of financial aid in order to pursue their dreams of a higher education. During its history, the VCF has raised over $23,000,000 for its member schools and students.