Foundation’s estate sale creates scholarships
September 5, 2001
Eight agronomy students will benefit this year from scholarships funded through the ISU Foundation’s controversial sale of the Marie Powers estate.
A committee has been formed to investigate the handling of the Powers farm, which was sold against the donor’s wishes.
An initial $100,000 was given to the agronomy department for scholarships from the proceeds of the sale. The interest from the invested money generates about $5,000 each year, and is used for the scholarships, said Charles Burras, associate professor of agronomy.
He said the money was first available in 1998 when two scholarships were given. In each of the past three years, eight scholarships were awarded from the Marie Powers endowment.
Four $750 scholarships are given to qualified upperclassmen, and four $500 scholarships are available to incoming freshmen and transfer students, Burras said. Each scholarship is for a one-year period.
“We in agronomy weren’t involved with setting the guidelines for the scholarship,” Burras said. “There are general guidelines the ISU Foundation set up. They wrote a memorandum of agreement stating that the scholarships had to go to agronomy students with interest in agronomy or seed science.”
Students in the agronomy department fill out a general scholarship form which they submit to the department. A committee looks at each submission and makes a decision, said 2001 scholarship recipient Mindy DeVries, senior in agronomy.
“The Marie Powers scholarship is one of several available in agronomy, and I’m very grateful to receive this scholarship,” said DeVries, who grew up on a farm in Monroe. “But it’s sad that they didn’t complete her wishes. I think my biggest concern, though, is with donors of not only farms, but also money and other research tools in the future and how that will affect the students. If I were a donor, I would want them to do what I asked with my donation.”
Incoming students who received the Powers scholarship aren’t as aware of the controversial estate behind the scholarship.
“I don’t know about any of the controversy,” said James Steuk, freshman in agronomy. “I just filled out one scholarship form, and that was just one that I received.”
Burras said although the actions of the ISU Foundation are now in question, the money from the sale has been appreciated.
“While I realize there is a lot of controversy surrounding the Marie Powers estate, and I can’t say this is what the family would have wanted us to do, I do feel really great being able to give well-deserving students scholarships,” he said.
Karen Bolluyt, program director of agriculture information services, said additional money from the Powers estate will be available to the Agriculture Foundation to award scholarships to students.