RSSDonor of $20 million led private, quiet life
Yakima Herald-Republic
Megan Rockwell listens to attorney Joe Falk following a Thursday news conference at which it was announced that Mary Monroe Davis, Rockwell's grandmother, had donated $20 million in scholarship to Yakima Valley students. Falk was Davis' attorney.
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YAKIMA -- Yakima County students will reap the benefits of a $20 million gift left by Mary Monroe “Mollie” Davis of Yakima.
Davis, 94, died in her home on Nov. 24. A quiet and private person, she set up a trust to help both graduating high school students and older adults pursue their education.
Those who knew her well — including her attorney Joe Falk and accountant John Rothenbueler — revealed plans for her estate at a news conference Thursday morning.
About $17 million is going to the Yakima Valley Community Foundation. About $500,000, generated from the interest on the endowment, will be spent each year to fund scholarships for undergraduate students who hail from the Yakima Valley.
Although academic achievement will be a factor, other qualifications for the aid will include student leadership, community service, and most importantly, financial need, Falk said. The awards, which will be made available beginning in the 2010-1011 school year, will be granted on a one-year, renewable basis.
Another $3.85 million is going to Perry Technical Foundation, and will be used to provide scholarships and loans to vocational students at Perry Technical Institute. The money will be divided equally to two funds — one to benefit male students in the name of Davis’ late husband, Warren J. Davis, and the other to benefit female students in her name.
When she created the scholarships, Davis told others, “Funding education of Yakima Valley residents is the best possible use of my fortune. I hope my scholarship gifts inspire others to join my support of higher education.”
-- Erin Snelgrove
Editor's note: This story has been apended to correct erroneous information that appeared in the originally published version.
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