This foundation was set with the intention to provide financial support to recent graduates of the Arkansas School for the deaf to attend Gallaudet College. This foundation was named after a man who devoted his life to education in Arkansas. He was a leading educator (not for deaf) in America during the early 1900s. His wife, Bernice, was a secretary of Arkansas School for the Deaf. A group of philanthropists of Arkansas formed this foundation on July 30, 1957. Bankers, senators, business owners, CEOs, college professors, and others fill the board of directors’ position, serving for staggered terms of one to three years. The Board of Directors selects the graduates most worthy of getting this loan with no interest added upon collection. The money returned would go to the next graduate who needs one. The money donated constitutes a tax-deductible for the donors. The last known date of this foundation’s existence is 1983.