Greg '76 and Patricia Spencer

Greg Spencer '76 and his wife, Patricia, are now looking to reconnect with the past by establishing the Carl V. Spencer Scholarship in memory of Greg's father. Preference for the Carl V. Spencer Scholarship is given to students interested in studying psychology from Oklahoma, Texas, and Kansas.

Greg's time as a psychology major and football player at Wabash led to a successful career in medical technology marketing, sales, and general management that led to expatriate assignments in Singapore, Tokyo, Seoul, Shanghai, and Beijing, but none of it would have been possible without his father, Carl.

Carl Spencer inherited adversity from day one-born in Oklahoma in 1919, he grew up during the Dust Bowl, and by the age of 14, he was an orphan. Even though he lacked means, Carl had a drive for success.

"My dad didn't go to college," Greg said. "He graduated high school when he was 21 after going to seven or eight high schools just to get it done."

Carl served as a Marine Corps recruiter during WWII, pursued the sport of bicycle racing, in which he was crowned the Texas, Oklahoma, Kansas tri-state champion in the 100-mile distance, and achieved recognition later in life when he completed a 23-day transcontinental bicycle ride in celebration of the Marine's bicentennial in 1975.

"Despite all of this adversity he faced, he came out of it on the other side an accomplished individual," Greg said. "He was a very successful entrepreneur, owned his own business, and put me through college."

When Greg arrived at Wabash to play football in 1972, Carl immediately hit it off with fellow Oklahoman Dick Bowman, head coach of the Little Giants, which sparked a lifelong love of Wabash.

While Carl never had the opportunity to pursue higher education himself, Greg calls Wabash "the college he never had."

Greg was equally captivated by Wabash.

"It was everything that I thought a college should look like," he recalled. "It just looked and felt the part."

Wabash was where Greg learned the values he still applies to his life, summed up in the College's mission statement of thinking critically, acting responsibly, leading effectively, and living humanely.

When Greg started entertaining the idea of making a planned gift, he returned to those core values to guide his planning process.

Greg's first step was to evaluate his financial situation to determine if and how he could give more to Wabash. The decision to support the College was an easy one. Between Greg, Patricia, and their daughter, Lily, the Spencers have ties to many different institutions, but according to Greg, "Wabash had the biggest impact on our lives."

Greg and Patricia have Wabash named in their will, and they give annually, but they wanted to do more.

"Is there a third path?" Greg thought. "Is there another dimension that we could play here?"

Greg met with his CPA, his financial advisor, and Wabash's Director of Gift Planning, David Troutman, to determine the method of giving that would work best for him and his family. After exploring different options, Greg settled on a Charitable Remainder Unitrust with a 5% annual distribution, which will allow Greg and his family to generate income in the short term while benefitting Wabash in the long run. After a 20-year period, the remaining trust corpus is earmarked to support a scholarship for a student each year.

Greg then had to "sell" the idea to his wife and daughter, who were both firmly in support. The final person he brought on board was his mother, Elaine, and Greg was thrilled to tell her that Carl's legacy would be honored by this scholarship.

"I made three generations happy, taking care of my own family," Greg said.

Greg and Patricia can feel good about the steps they've taken for their family and future students at Wabash.

"It's really not about me," Greg said. "It's about honoring the past, and it's about enabling the future."