$5.9 Million Received From Whelpley Trust

St. Louis College of Pharmacy Receives $5.9 million
from the Laura Whelpley Trust

ST. LOUIS – St. Louis College of Pharmacy has received the largest gift in the school’s 146-year history – $5.9 million from a trust established by the late Laura Whelpley. The unrestricted gift will be used to support future growth opportunities, strategic plan implementation efforts and major academic initiatives, said President Thomas F. Patton.

Over a 56-year period, the trust grew from $200,000 to nearly $12 million – more than 50 times its original value. The $5.9 million gift to the College amounts to half the value of the trust.

The historical details make this a unique story. It begins with Whelpley, a visionary, who recognized how important the College is to the community, and ends with her grand nephew, Willis (Bill) Hauser, who dedicated his life to managing the trust and fulfilling his great aunt’s wishes.
 
Whelpley was the wife of Henry Milton Whelpley, long time dean of the College and prominent national figure in pharmacy. After his death in 1926, Mrs. Whelpley remained an ardent supporter of the College and profession of pharmacy. Before dying in 1954, at age 87, she established the original $200,000 trust. It came with a stipulation – Hauser could live off the yearly interest and dividends until his death. 
 
Hauser, an accountant, quit his job and successfully managed the trust for 56 years. After living a rather spartan lifestyle in Las Vegas, he died in January at age 95 leaving the College half of the trust.
 

“I think it’s fair to say that in 1954 no one would have imagined a trust of $200,000 becoming nearly $12 million in 2010,” Patton said. “The College is grateful to Bill Hauser, who exceeded his aunt’s wishes in managing the trust. Bill, like Mrs. Whelpley, loved the College and cared about its ability to help students realize their potential and become good pharmacists. He dedicated his professional life to stewardship of the Whelpley trust. Over the years, he also became a good friend and supporter of the College personally. As a woman of great vision, Mrs. Whelpley realized, a long time ago, that her gift could help the College continue fulfilling its mission of educating pharmacists in 2010 and beyond.”

Already located on the 5.5-acre campus is Whelpley Hall, which in 1994 was named in honor of the Whelpleys.
 
About St. Louis College of Pharmacy: Founded in 1864, St. Louis College of Pharmacy is one of the oldest and largest colleges of pharmacy in America. The College admits students directly from high school and integrates the liberal arts and sciences with a six-year professional curriculum leading to the Doctor of Pharmacy (Pharm.D.) degree. Approximately 1,250 students attend, and more than 72 percent of practicing pharmacists in the St. Louis metropolitan area are alumni.