September 21, 1999
LAWRENCE -- A Wichita businessman has bequeathed $50,000 in unrestricted funds for the University of Kansas, KU Endowment Association President Jim Martin announced today.
Marc W. Colby of Wichita said he was motivated to include the Kansas University Endowment Association in his will by his desire to thank the university for all it had given him. "I wanted to give something back because of my long-term relationship with the university, the education KU gave me and the benefits I received from that education."
Unrestricted funds allow KU administrators to take advantage of unexpected opportunities. The gifts can be used for many purposes, including the funding of scholarships, providing materials for faculty and buying state-of-the-art equipment.
"Unrestricted gifts provide vital support for the university," Martin said. "The university is very fortunate to have loyal alumni like Marc Colby."
Colby, who was born in 1952, received his bachelor's degree from KU in 1974 and his law degree from Washburn University in 1977. He currently serves as managing partner of New England Mutual Financial in Wichita.
He has received the National Management Award from the General Agents and Managers Association for 16 consecutive years and is past president of both the Kansas Association of General Agents and Managers and the Wichita chapter of the Society of Financial Service Professionals.
Marc Colby has two children from a previous marriage, Shana Wurth, who received her bachelor's degree from KU in 1995, and Bryan Flough, who is currently a senior at KU. Shelley A. Colby also has two children from a previous marriage. The Colbys are members of the Elizabeth M. Watkins Society, which recognizes people who have made provisions for KU in their estate plans.
Colby's gift will be administered by the KU Endowment Association, an independent, nonprofit organization serving as the official fund-raising and fund-management foundation for the University of Kansas. Founded in 1891, the KU Endowment Association is the oldest and one of the largest foundations of its type at a public university in the United States.
Story by Caryn Goldberg