The Frostburg State University Foundation, Inc., is the beneficiary of a gift of more than $600,000, the second-largest single cash gift ever given to the University, from the estate of Frostburg residents and long-time champions of the University, Ralph and Martha Race.
The Ralph and Martha Race charitable remainder trust gift will benefit endowments for western history education students and a lecture series.
"Ralph was one of the longest-serving members of the FSU Foundation and its first named Pinnacle Award recipient. He led by example and assisted the development effort in many ways,” said Jack Aylor, director of the FSU Foundation, Inc. “He was able to use a charitable remainder trust arrangement during his lifetime and benefited future generations by naming the FSU Foundation as a beneficiary.”
Ralph Race died in 2006. His wife passed away in 2000. The Races were both actively involved in Frostburg State University. Their connection to Frostburg State goes back to the beginning of their courtship, at a dance held in Old Main, Ralph Race said in an interview in 2001.
It was in 2001 that Ralph Race decided to honor his wife with a scholarship for the study of history, something they both held a keen interest in.
"History, as it has been carried down to us, is fascinating. There's no fiction that can touch it," Race said. The majority of the Races' donation will go toward scholarships and will provide awards to junior, senior or graduate students in the FSU College of Education.
“It is appropriate in light of their own long history with Frostburg State University that the Races’ donation will benefit students of history,” said FSU President Jonathan Gibralter. “The perspective gained by the study of the past adds a vital component to any educational experience.”
Ralph Race took an active role with a group of city leaders who helped Frostburg State President Lillian Compton rescue the college from closure in the 1940s. He joined the FSU Foundation in 1976 and two years later became treasurer, a post he would hold for 12 years.
Ralph Race was president and chairman of the board of Fidelity Bank. His community commitments were countless, including a 73-year affiliation with the Rotary Club and many City of Frostburg and local civic committee.
Martha Race was deeply involved in community activities as well, including the drive to build a new library in downtown Frostburg.
"Ralph and Martha were mainstream supporters of Frostburg State University for many years," Aylor said. "Ralph was responsible for generating many of the FSU Foundation’s scholarship endowments from alumni, friends and organizations. The legacy of the Race family name will continue in perpetuity with Frostburg State University."
The FSU Foundation is having a record-setting year for gifts in support of Frostburg State University with over $2.3 million in gifts and pledge including $200,000 to the FSUF Annual Fund.
"Planned gift and deferred gift programs provide attractive methods for individuals to make a significant and lasting impact on university programs,” noted Aylor.
The FSUF manages assets exceeding $14 million, providing over $2 million of annual support for FSU students and programs. For more information contact the FSU Foundation at 301-687-4200 or via the web at www.frostburg.edu/admin/foundation/