UA ALUMNI ENDOW CHAIR IN ACCOUNTING

FAYETTEVILLE, Ark. - Larry T. Wilson and Natalie and Tom Garrison have contributed $375,000 each to fund the Garrison/Wilson Chair in Accounting in the Sam M. Walton College of Business, University of Arkansas.

Their combined gift of $750,000 will by matched by $750,000 from funds available through the Matching Gift Program to create a $1.5 million endowment for a chair with a focus on corporate governance and behavioral accounting. The Matching Gift Program, made possible by the Walton Family Charitable Support Foundation’s $300 million gift to the University of Arkansas, supports selected academic positions in fields that have the greatest potential for enhancing economic competitiveness and quality of life in Arkansas and elevating the University to international prominence. The chair was established for a highly qualified professor with a focus on corporate governance and behavioral accounting.

Wilson, who received a degree in industrial management in 1970 and an MBA from the Walton College in 1971, is president of First Arkansas Bank & Trust in Jacksonville, Ark. Tom Garrison, a 1982 graduate of the Walton College in accounting, is founder of Garrison Management Corp. in Harrison and Fayetteville. Natalie Garrison also attended the University of Arkansas as well as North Arkansas College.

The first holder of the Garrison Wilson Chair in Accounting is UA alumnus Don W. Finn, professor in accounting. Finn came to the Walton College in the fall of 2003 from Louisiana State University, where he served as accounting department chair and Ourso Distinguished Professor of Accounting. He previously served on the faculty of Texas Tech University. His primary teaching area is managerial and cost accounting. His research interests focus on behavioral issues in accounting, most recently emphasizing corporate governance and ethics. He holds a B.S. in psychology from Texas Tech University, an M.B.A. from Arkansas State University in accounting and finance, and a Ph.D. from the University of Arkansas in accounting obtained in 1982.

UA Chancellor John A. White said: "We are indebted to Larry Wilson and Tom and Natalie Garrison for their support of University of Arkansas faculty. The endowed chair they have established will help the University of Arkansas become the nationally competitive, student-centered research university serving Arkansas and the world we envision."  

Walton College Dean Doyle Z. Williams said: "Tom and Larry have been long-time supporters of the college through their work on the Dean’s Executive Advisory Board. They have guided the direction of the college. This wonderful gift has enabled us to recruit and retain a nationally recognized accounting faculty, who will guide future students in corporate accountability."

G. David Gearhart, vice chancellor for University Advancement, said: "With dedicated alumni and volunteers like Larry and Tom and Natalie, the Campaign for the Twenty-First Century is realizing its goal to transform the University of Arkansas. I’d like to thank each of them for their continued volunteer leadership to the U of A. This gift is a fantastic example of friends creatively collaborating to support the university, and we are grateful for the support it will provide."

Karen Pincus, S. Robson Walton Chair in Accounting and chair of the Walton College accounting department, said: "Having an endowed chair has attracted a leading-edge accounting academician - Don Finn. We are very lucky to have him as part of our faculty. Don teaches both graduate and undergraduate courses in professional responsibility (ethics) and conducts research on corporate governance, including whistle blowing. He will be preparing students on these critical issues in the business world."

In 2003, the Walton College awarded Wilson the Alumni Outstanding Service Award for his commitment and many hours of service to the Walton College and the University of Arkansas. He has led the Walton College’s Campaign for the Twenty-First Century committee since it was launched in 2001. Wilson has been a member of the College’s Dean’s Executive Advisory Board since 1997 and has provided valuable direction for the growth of the college. He serves on the University of Arkansas 2010 Commission. He is in the Arkansas Alumni House Hall of Honor and the Razorback Foundation Top 200. Since he joined First Arkansas Bank & Trust in 1971, he not only has helped grow the institution, but he also has been an active member of the community, the Little Rock Air Base and the surrounding area. His father, the late Kenneth "Pat" Wilson, is a 1948 graduate of the college, and his mother, Ruth Wilson, holds a BA degree from the U of A. His son, Mark Wilson, received his M.B.A. from the college in 2001, and his son, Patrick D. Wilson, received a degree from the UA School of Law in 1999.

Tom Garrison retired from FedEx Freight East in November 2002, where he was previously president and CEO. The less-than-truckload company, formerly American Freightways, was founded by Garrison’s father, Sheridan Garrison, who is also a graduate of the Walton College. The company was purchased by FedEx Corp. in February 2001. Tom Garrison joined American Freightways two months after it was formed in 1982. His initial duties focused on creating and organizing the company’s accounting function and processes, and he headed the accounting until 1985. He managed the company’s continuous Quality Improvement Process as he rose to president and CEO. He is a member of the Walton College Dean’s Executive Advisory Board and had provided valuable input on the strategic direction of the college. The Walton College accounting department recognized him in 2001 with an outstanding alumni award.

Currently dividing their time between Harrison and Fayetteville, Natalie and Tom Garrison operate a financial management and a real estate development/management company and will be opening an accounting services business in Fayetteville. The Garrisons’ daughter Sarah is a graduate of the Walton College. The three Garrisons are majority owners of The Sauce Factory in Monroe, La., which produces salsas, marinades and sauces. Natalie and Tom Garrison support the Burlsworth Foundation, CASA, Main Street Harrison and Bethany Christian Services.

This gift counts toward the $300 Million Challenge, the campaign-within-a-campaign to raise $300 million for academic purposes to match the Walton Family’s $300 million gift. Challenge funds must be raised between Jan. 1, 2002, and June 30, 2005, the end of the Campaign. The Challenge total stands at $ 163 million, and the overall Campaign total stands at $793 million as of March 31, 2004.