Davis Nursing Scholarship Established

The University of Arkansas Community College at Morrilton (UACCM) is honored to share that the Dr. Larry and Carlene Davis Nursing Scholarship has been established as a new endowment at the college.

The scholarship created by Dr. Larry and Carlene Davis is in honor of the couple’s daughter, Sara Woods, who is a practicing MSN degree nurse in Oklahoma. Davis said he and his wife Carlene are thrilled to support the students who will be attending classes in the college’s planned Nursing & Health Center set to open in late 2025 or early 2026.

The endowed scholarship will be awarded based on financial need for full-time students in the Practical Nursing (LPN) and Registered Nursing (RN) programs at UACCM. The recipients must be Arkansas residents. Applicants must have a grade point average of 2.50 or higher (first-time entering students will use high school GPA) and must submit an essay on the topic, “Why I Want to Be a Nurse”. Multiple scholarships will be awarded in the amount of $250 per semester.

UACCM director of marketing and public relations Mary Clark stated, “We are so grateful to Dr. Larry and Carlene Davis for their thoughtfulness and generosity. This will be a profound gift for the nursing program and will change many lives.

“Scholarships often make the difference in our students’ ability to attend college and obtain a degree. Many of our students are non-traditional and balancing school, work, and family life. With the shortage of nurses growing, this scholarship will provide much-needed healthcare providers in our region.”

The Davises presented a check in the amount of $25,099.97 to the UACCM Foundation, which included $13,099.97 from a retirement plan account Required Minimum Distribution (RMD). 

The Required Minimum Distribution is the minimum amount retirees must withdraw from their traditional IRA and other retirement plan accounts each year once they reach age 73 according to U.S. tax laws. Davis noted that while the RMD tax plan requires individuals to take money from their annuity each year, those funds awarded to non-profit organizations are not taxed. He hopes his endowment gift will encourage and inspire others to consider making similar contributions to non-profit organizations.

The minimum amount needed to establish an endowment is $5,000 and the fund must reach $25,000 within five years to become fully endowed. These funds will be invested by the Foundation and awards made from the interest earned. The principal of the fund is held intact, with a small percentage of interest reinvested in growth to equal inflation, so that scholarships are awarded in perpetuity. Because an endowed scholarship is awarded now, and for the generations to come, donors can create a legacy for themselves or a loved one. Endowed scholarships are held by the UA Foundation for one year before the first interest proceeds are available for scholarships.

Dr. Larry Davis served as UACCM Chancellor from 2010 until his retirement in 2019. This summer, his legacy was cemented on the UACCM campus, as the Dr. Larry D. Davis Workforce Training Center was rededicated in his honor.  

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