Gus Markanton Estate Benefits Kent State East Liverpool
Gus Markanton Estate Benefits Kent State East Liverpool Scholarship Endowment Fund Created for Local Residents
East Liverpool – Local businessman, Gus Markanton, support for higher education was perpetuated with the creation of a scholarship endowment for Kent State University at East Liverpool students. Along with the scholarship endowment, additional funds have been reserved for future Kent State East Liverpool improvements. The total estate gift surpassed $200,000.
According to Markanton's nephew, Jeff Shinton, “My uncle believed that it was essential for individuals to continue their education. He felt Kent State East Liverpool created higher education access for many local students who might not otherwise have the opportunity to earn a college degree.” Shinton says that his uncle recognized that a degree helped prepare individuals for success in business, and that truly successful people understood that they were responsible for their community’s wellbeing. “My uncle believed in giving quietly,” says Shinton. “Kent State East Liverpool is one of many local community organizations that benefitted from his generosity now and during his lifetime.”
Markanton’s gift will have both an immediate and long-term impact on Kent State East Liverpool’s students. Beginning this fall, the Gus Markanton Endowed Scholarship will be awarded to at least five Kent State East Liverpool students who are graduates of East Liverpool City, Beaver Local and Wellsville Schools in Ohio or Hancock County Schools in West Virginia, and majoring in a business related discipline. Additional funds have been dedicated to future campus facility improvements that will ensure Kent State East Liverpool students have access to new and innovative learning environments.
Markanton’s desire to help Kent State East Liverpool students was realized with the establishment of a charitable reminder unitrust. “This is one of several types of charitable giving options that allows individuals to earn income while also establishing legacy that will benefit students,” says Matthew Butts, Director of Advancement for the East Liverpool and Salem Campus. “It’s inspiring to be part of a community that values higher education so greatly,” adds Kent State East Liverpool Assistant Dean, Dr. Sue Rossi. “We’re proud to know our graduates will continue this tradition. Mr. Markanton’s gift will inspire our students and alumni for years to come.