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NOBTS receives $850,000 gift designated for senior seminarians

NEW ORLEANS (BP)–New Orleans Baptist Theological Seminary has received a trust fund gift of $859,218 from the estate of Etta Mae Frederic of Theodore, Ala.
A member of Magnolia Springs Baptist Church, Frederic established the fund in 1966 after meeting former NOBTS President H. Leo Eddleman, who preached in her church and spoke of the needs of seminary students, especially of those in their final year of studies.
Frederic responded to the need by establishing a trust fund at her local bank, the proceeds from which, upon her death, would be designated to provide scholarships for students at New Orleans Baptist Theological Seminary who were in their final year of studies. Frederic died Feb. 24, 1997.
“For many students, the last year of seminary is the most difficult for their family budgets. This new scholarship endowment from a precious Baptist lady will be a great legacy to students at that critical time,” said Chuck Kelley, NOBTS president. “Because of this endowment fund, many students will be enabled to begin their ministries without the weight of a seminary debt.”
In addition, Kelley said, “This sacrificial gift brings us one step closer to our goal of a $25 million endowment for student scholarships.”
Jim Lee, NOBTS vice president for development, noted, “Mrs. Frederic heard the need and her compassion was sparked to do something. Her generous gift for seminary students shows what sound financial planning and stock market investing over several years will accomplish. The little things do add up to become big things.”

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  • Debbie Moore