$530,000 Gift to UB Pharmacy School to Fund Scholarships

Release Date: June 26, 1998 This content is archived.


BUFFALO, N.Y. -- Determined to open the doors to an outstanding professional education to even more students, Violet Newton has shown her philanthropic generosity again with a new gift of $530,000 to the University at Buffalo School of Pharmacy.

The gift will augment The Cecil J. and Violet W. Newton Scholarship Fund that was started in 1994, and the past year provided scholarships for 30 pharmacy students. The Newtons created the scholarship in gratitude for the outstanding education and training the late Cecil Newton, who died in 1996, received at UB that led to his successful business and professional career.

"My husband truly enjoyed attending school at UB and living in Buffalo," said Violet Newton. "And he loved his work in pharmacy. It always came first for him. He wanted to help people and was very sincere about it -- helping people is what appealed most to him about being a pharmacist."

Newton shares her husband's aspiration to help others and is carrying this through by adding to the Newton Fund.

"I strongly believe in doing this," she said. "Supporting scholarships for young, aspiring pharmacists, especially those in the school's new doctoral program, is my way of aiding students as they go through their studies. My husband would be very happy I'm making this gift."

A 1928 graduate of the university's pharmacy school, Cecil Newton was with the Walgreen Co. as a pharmacist and store manager from 1933-78, except from 1941-45 when he served in the U.S. Army in the South Pacific in the Special Brigade of the 5032nd Engineer Boat and Shore Regiment, and Korean theaters of action. He retired from the army with the rank of lieutenant colonel.

The Newtons resided in Upstate New York and Connecticut throughout Cecil's pharmacy career, until his retirement in 1973. They moved to Fort Myers, Fla., in 1979, where the Newtons resided for 13 years, and then settled in Bradenton, Fla., where Violet Newton still resides.

Wayne K. Anderson, Ph.D., dean of the pharmacy school, praised Violet Newton's continuing generosity.

"By providing such a generous gift to the pharmacy school," he added, "Mrs. Newton is exemplifying her husband's high ideals and belief in the profession.

"This invaluable augmentation of our scholarship resources not only creates outstanding educational opportunities for pharmacy students, it sends a powerful message that the school has a well-established reputation in the pharmacy field that is strongly worth supporting."

The Newton Fund is an endowed scholarship. The principal is invested for growth by the University at Buffalo Foundation, Inc. and a portion of the proceeds are dispersed as scholarships. Careful stewardship, combined with the latest gift, has brought the fund's total to $1.1 million.

As the fund continues to grow over time, more scholarships will be awarded. Initially, only 10 scholarships were awarded. In academic year 1997-98, 30 pharmacy students received scholarships ranging from $500 to $1,000.

The Newton scholarship fund was created through gifts of appreciated securities. In many cases, using securities allows the donor to give a gift beyond what he or she ever thought possible. Gifts of stocks and bonds also can produce significant tax advantages for the donor, including a deduction equal to the fair-market value of the securities, as well as elimination of capital-gains taxes on the transfer.

Since everyone's personal financial situation varies, it is recommended that individuals interested in making a gift using securities contact a development professional and their personal financial advisors.