University of Wisconsin-Eau Claire

NEWS RELEASE

News Bureau . Schofield Hall 201 . Eau Claire, WI 54702
phone: (715) 836-4741
fax: (715) 836-2900

UW-Eau Claire Foundation
Receives $615,000 Estate Gift

 MAILED:  Nov. 25, 2003

EAU CLAIRE — The University of Wisconsin-Eau Claire Foundation has received a gift of $615,000 from the Wayne Canar Trust, established more than 30 years ago by Wayne Canar, former Mondovi businessman and entrepreneur.

UW-Eau Claire was the final beneficiary of the charitable remainder trust, established by Canar before his death in 1973. The first beneficiary of the trust, Canar’s cousin Catherine Fitzgerald, died in July. Money remaining in the trust was to be given to the UW-Eau Claire Foundation.

“We are honored that Wayne Canar chose UW-Eau Claire as the place to carry on his legacy,” said Carole Halberg, UW-Eau Claire Foundation president.

Mondovi resident John Herpst, manager and trustee of the Wayne Canar Trust since 1979, said Canar was the former president of Mondovi State Bank and a member of the Mondovi school board when the community’s high school was built in 1939.

Canar’s membership on the school board and the provision in his will for UW-Eau Claire both were indications that “he was interested in giving students a chance to improve themselves through education,” Herpst said.

The gift will become a part of the UW-Eau Claire Foundation’s Excellence Fund endowment, Halberg said. Annual earnings from the endowment support student scholarships, faculty/student research, the Honors Program, faculty development and the university’s other areas of greatest need.

“This gift will provide much-needed support for the university’s people and programs — support that is increasingly critical given the current state fiscal situation and the reductions in state funding for higher education,” Halberg said.

The Canar Trust gift is recognized as a contribution to Fulfilling the Promise of Excellence, the Foundation’s ongoing comprehensive fund-raising campaign that seeks $35 million in private support by July 2005.

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JP


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 Judy Berthiaume, Director
UW-Eau Claire News Bureau
Schofield 201
(715) 836-4741
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Updated: November 25, 2003