Faulkners' $1 Million Gift Will Support Student Scholarships

FAYETTEVILLE, Ark. — Little Rock residents Jim and Joyce Faulkner have made a $1 million gift commitment to fund Chancellor’s Scholarships at the University of Arkansas.

The six James H. and Joyce P. Faulkner Family Chancellor’s Scholarships will support students who are qualified academically and demonstrate a need for financial assistance. Two of the scholarships will be designated to the College of Education and Health Professions with priority given to students majoring in early childhood education.

Jim Faulkner said, "Joyce and I have always had an interest in supporting student scholarships at the University of Arkansas. If we are able to provide opportunities for talented students with strong character and a demonstrated financial need to attend the institution so beloved in our family, then we feel that we are making a difference.

"We believe in Chancellor White’s vision for the University of Arkansas and are committed to helping it become reality," he added. "Once we decided to create additional scholarships for the U of A, we gave careful consideration to how these funds should be designated. Two of our children taught in early childhood education and we think a good educational beginning is vital if we are to encourage a strong educational program."

Three of the remaining Chancellor’s Scholarships will be designated toward journalism, art and music majors in the J. William Fulbright College of Arts and Sciences. On a fourth scholarship to the Fulbright College, preference will be given to students from Benton and Malvern High School, the alma maters of Joyce and Jim Faulkner, respectively.

"We feel that the areas of art and music provide an important balance and beauty in today’s chaotic world. We would like it if the music scholarship went to someone who participates in the Razorback Band since Jim and I both played in our high school bands and he was in the band during his time at the University. We are so pleased to be able to help the University of Arkansas in this way." Mrs. Faulkner said.

The gift is through a charitable trust the Faulkners established for the University.

UA Chancellor John A. White said, "Jim and Joyce Faulkner have been among our most loyal benefactors. They have done and continue to do so much for the University. As an example, the cumulative giving society, Towers of Old Main, would never have been created without their encouragement and wise counsel. As we rise to meet the challenge for the Campaign for the Twenty-First Century, it’s more important than ever that we raise funds to help us increase the size and quality of our student body. We are most grateful to Jim and Joyce for the support their Chancellor’s Scholarships will provide to qualified UA students. Alumni and friends like the Faulkners are absolutely critical to helping us achieve our vision of a nationally competitive student-centered research university serving Arkansas and the world."

Vice Chancellor for University Advancement G. David Gearhart said, "I’d like to thank Jim and Joyce Faulkner for making this gift to establish University scholarships. We are as grateful for the Faulkners’ generosity to the University as we are for Jim’s volunteer service to the Campaign for the Twenty-First Century. Jim has been a valued advisor and friend to the University of Arkansas and we look forward to his continued leadership in support of the Campaign, and beyond."

Mr. Faulkner, a member of the Campaign for the Twenty-First Century Steering Committee and the Campaign’s Executive and Central Arkansas Regional Committees, is a 1954 University of Arkansas graduate with a bachelor of science degree in journalism. Following his graduation, Mr. Faulkner spent two years in the Air Force.

After the military, the Faulkners moved back to Arkansas where Mr. Faulkner began his career in advertising. He founded a one-man advertising agency, Faulkner and Associates, which grew into one of the leading advertising firms in the Southwest.

In the early 1980s Mr. Faulkner established Falcon Publications, which targeted the video movie industry. At the time he sold Falcon Publications in 1992, it was then the largest video publication in the world with a 1.5 million monthly circulation.

Last fall, Mr. Faulkner was awarded with the Arkansas Advertising Federation’s Silver medal, that organization’s highest honor.

Since selling their businesses, the Faulkners have primarily been investing in areas such as banking and real estate.

Mrs. Faulkner returned to school after raising their family, and earned a bachelor’s cum laude degree in sociology and anthropology from the University of Arkansas at Little Rock.

The Faulkners are long-time supporters of the University and are members of the Chancellor’s Society. Examples of their previous generosity include gifts directed to the renovation of Old Main, the University Annual Fund, Razorback band uniforms, the Walter J. Lemke Scholarship Award Fund, the Walter J. Lemke Journalism Education Fund the Chancellor’s Society and a previous gift to establish Chancellor’s Scholarships.

"Attracting intellectually talented students is a key part of that vision, that’s why we chose the Chancellor’s Scholars Program — to help deserving people go to school. And while we want them to be deserving from an academic and character standpoint, we also want our scholarship to go to someone who genuinely needs financial assistance," Mr. Faulkner said.

In 2000, the Faulkners were inducted into the Towers of Old Main, a cumulative giving society that honors benefactors whose lifetime giving to the University of Arkansas has reached the $100,000 level.

The Faulkners’ alumni legacy with the University of Arkansas extends to all five of their children who attended the University.

The Campaign for the Twenty-First Century is a six-year effort to raise significant gifts from private sources for the University of Arkansas. Campaign funds are being used to help the University achieve its vision for the twenty-first century. Campaign funds are being raised for six critical areas of need: endowed faculty positions, scholarship funds, academic programs, University Libraries, academic facilities and equipment, and annual giving. All gifts made since Jan. 1, 2002, will be counted toward the additional $300 million that must be raised to meet the $300 Million Challenge.

Between July 1, 1998, and April 12, 2002, the Fulbright College had raised $17 million toward its $40 million Campaign goal. The College of Education and Health Professions had raised $40,000 over its goal of $10,100,000.

Chancellor’s Scholarships, considered among the most prestigious scholarships awarded at the U of A, are designed to recruit the most talented high school students in the nation. Chancellor’s Scholarships provide tuition, fees and room and board to qualified students and each is endowed with a gift of at least $160,000.

These scholars are among the highest achieving students at the University of Arkansas. All incoming freshman Chancellor’s Scholars have graduated in the top 10 percent of their high school graduating class. In the fall of 2001, 1,088 students had secured Chancellor’s Scholarships, meaning nearly one in 12 of all UA undergraduates is a Chancellor’s Scholar.