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Two sisters honor brother with $1 million gift to Transylvania to fund two full four-year scholarships every four years

LEXINGTON, Ky.—President Charles L. Shearer announced today that Clay Kirk of New York City and Sarah Kennedy of Atlanta, sisters of Transylvania University Board of Trustees member James G. Kenan III, have established a scholarship program at Transylvania to honor their brother. The JGK III scholarships will include full tuition, room, board and fees for four years and will be awarded to two entering first-year students every four years, beginning fall of 2008.

“We are extremely grateful to Clay and Sarah for their generous gift to Transylvania in honor of their brother Jim,” said Shearer. “Jim has been exceptionally committed to Transylvania. As vice chair of Transylvania’s Board of Trustees and chair of the Investment Committee, he has overseen management of the University’s endowment for the past 20 years.”

Kenan provides close oversight of Transylvania’s investment strategies and during his tenure, the University’s endowment has grown from $35 to $145 million.

The JGK III Scholarship Program will build on the principles established in Transylvania’s prestigious William T. Young Scholarship Program that was launched in 1982.

Transylvania, founded in 1780, is the nation’s sixteenth oldest institution of higher learning and is consistently ranked in national publications as one of the top liberal arts colleges in the country.

9/24/2007

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