President's Letter (06-25-07)
William Porter gives $5.8 million for math and science scholarships
Just when you think things have settled down for the summer, an incredibly generous alumnus donates the largest single gift ever made to the college.
William Porter '51 broke his own record recently with a gift to the Adams State College Foundation of 250,000 shares in E*TRADE, the company he founded and headed for many years. Valued at approximately $5.8 million, this gift brings the Foundation's endowment to a total of $14.3 million.
Mr. Porter and his wife, Joan, requested their latest donation be used to establish an endowment to award science and mathematics scholarships to students who show financial need and academic achievement. Those scholarship winners will study in the building named for their benefactor. Adams State's science and mathematics facility was named Porter Hall upon its completion in 1998.
That was the least we could do for this mathematics graduate who had recently given the college its largest donation at that time, approximately $4 million worth of E*TRADE stock. The first online investing firm, E*TRADE was Porter's brainchild. The majority of that gift was dedicated to installing ethernet wiring in the campus residence halls.
Additionally, Mr. Porter has given more than $650,000 to the Adams State Foundation for alumni scholarships and other uses. Some of these funds will be used to renovate the campus' historic president's residence, the Marvel House.
Having already named a building after William Porter and awarded him an honorary doctorate of philosophy and the 2005 Billy Adams Award, how can we thank him for his latest philanthropic act?
Perhaps by simply continuing to give deserving students the chance to change their futures. Our science and mathematics departments already do an incredible job. Adams State biology majors are accepted into professional programs at an excellent rate: 100 percent for dental school, 97 percent for graduate school, 92 percent for veterinary school., and 78 percent for medical school. Seventy-six percent of mathematics students land jobs immediately following graduation. Now even more students will have a chance to share in that success. When Mr. Porter spoke at the Porter Hall dedication, tears welled up in his eyes, and he was unable to speak for a moment. He'd come a great distance since working his way through college at the Denver & Rio Grande Railroad, yet still recalled the words of his favorite professor, Dr. James Craft: "Learn all you can in everything. You never know when you will need it."
By following that advice, Mr. Porter succeeded more than he could have imagined. By sharing his rewards, he assures future Adams State students will have the same opportunity.
