SALEM, Ore. (AP) — The former president of Chemeketa (shuh-mehk-uh-tuh) Community College has completed what the school says is the largest gift in its 41-year history, nearly half a million dollars.
The Salem Statesman Journal said (http://bit.ly/mRyYns ) the $487,000 is in what’s known as a charitable remainder trust.
It will complement a scholarship program aimed at diversity that Gretchen Schuette (shoo-tee) began as president of the college from 2001 to 2007.
For five years, investment earnings were distributed to Schuette’s family, and as planned, the remainder of the trust principal was given to the Chemeketa Community College Foundation.
