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Parents of 4 KU graduates create $1 million bequest for KU
The parents of four KU graduates have pledged $1 million
for the University. Robert L. "Bob" Stephens and
his wife, Mary Kay, of Lawrence made the commitment through
their estate plans.
Though neither attended KU, their four children are all graduates
who married other KU alumni.
"We're pretty blue in our house," said Bob, noting
the family's Jayhawk ties.
The couple's children are Stephens Real Estate president
Doug Stephens, b'83, c'87; Debbie Stephens Holzmeister, n'86;
Denise Stephens Kahler, j'87; and Diana Stephens Lisher, h'82.
The gift to the Kansas University Endowment Association will
be unrestricted. Unrestricted gifts assist KU in many areas,
including the funding of scholarships, providing materials
and resources for faculty and buying state-of-the-art equipment.
"This generous gift will allow us to fund areas of greatest
need as they evolve," said Chancellor Robert Hemenway.
"Bob and Mary Kay are true friends of the University,
and this thoughtful gift will extend their long history of
support for years to come."
Bob said he and Mary Kay chose to leave an unrestricted gift
for KU because they wanted KU to have flexibility.
"We love all aspects of the University and therefore
didn't want to tie our gift to one area," Bob said. "We'll
let those who know do what they need to do with the funds."
Bob is chief executive officer and chairman of Stephens Real
Estate Inc., which has about 60 licensed sales agents in its
offices in Lawrence and Baldwin City. Mary Kay is secretary
and treasurer for the company.
The Stephenses have lived in Lawrence since 1963, but they
both grew up in Clinton, Mo. The couple began dating at Central
Missouri State College (now University) in Warrensburg, and
in 1958 they married.
Bob did not originally plan a career in real estate. In the
1960s, he was an assistant sales manager for Kansas City-based
Manor Baking, overseeing business in the north half of Kansas.
When Manor wanted Bob to transfer to Dallas, he resigned so
the couple could stay in the area, and went to work as a milkman
for several years to support his family. In 1970, he joined
a friend's real estate firm.
"Real estate just intrigued me," he said, "and
I thought I could sell a house the way I sold milk."
Although the task was not quite so easy, the business grew.
In 1972 he became a partner in the firm, the Mitchell-Stephens
Agency, and in 1978 he formed Stephens Real Estate.
In addition to their many contributions to KU over the years,
the Stephenses have been active in many Lawrence and Douglas
County community organizations. Bob has served as president
of the Lawrence Chamber of Commerce, the Boys and Girls Club
and Douglas County United Way, and is currently a member of
the Douglas County Development Board. Mary Kay currently serves
on the board of directors for the Salvation Army.
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