Oseola McCarty
Encyclopedia
Oseola McCarty was a local washerwoman in Hattiesburg, Mississippi
who became The University of Southern Mississippi
’s (USM) most famous benefactor.
McCarty drew global attention after it was announced in July 1995 that she had established a trust through which, at her death, a portion of her life’s savings would be left to the university to provide scholarships for deserving students in need of financial assistance. The amount was estimated at $150,000, a surprising amount given her menial occupation.
and moved to Hattiesburg as a child.
In the sixth grade, her aunt (who had no children of her own) was hospitalized and later needed homecare, so McCarty quit school, never to return. She would later become a washerwoman, like her grandmother, a trade she would continue until arthritis forced her to quit in 1994.
McCarty's grandmother died in 1944, her mother in 1964, and her aunt in 1967. McCarty never married or had children.
McCarty died from cancer
in 1999.
McCarty never owned a car; she walked everywhere she went, pushing a shopping cart nearly a mile to get groceries. She rode with friends to attend services at the Friendship Baptist Church. She did not subscribe to any newspaper, considering the expense an extravagance. Similarly, although she owned a black and white television, she only received transmissions via the airways. In 1947, her uncle gave her the house in which she lived until her death. She also received some money from her aunt and mother when they died, which she also placed into savings.
With the assistance of a local attorney (for whom she had done laundry) and the bank's trust officer, using slips of paper and dimes (to represent 10% shares), McCarty set out the future distribution of her estate. She set aside one dime (10%) for her church, one dime (10%) each for three relatives, and the remaining six dimes (60%) for Southern Miss. She stipulated that the funds should be used for students, preferably those of African-American descent, who could not otherwise attend due to financial hardship. When news of McCarty's plan was made public, local leaders immediately funded an endowment in her honor.
She signed an irrevocable trust, allowing the bank to manage her funds, from which she received a regular check.
presented her with a Presidential Citizens Medal
, the nation’s second highest civilian award, during a special White House Ceremony. She also won the United Nations
' coveted Avicenna Medal for educational commitment. In June 1996, Harvard University awarded McCarty an honorary doctorate alongside Maya Lin, Walter Annenberg, and Judith Jameson.
She is often referred in Robin Sharma
's talks related to leadership.
Hattiesburg, Mississippi
Hattiesburg is a city in Forrest County, Mississippi, United States. The population was 44,779 at the 2000 census . It is the county seat of Forrest County...
who became The University of Southern Mississippi
The University of Southern Mississippi
The University of Southern Mississippi, informally known as Southern Miss, is a large public research university located in Hattiesburg, Mississippi, United States. It is situated north of Gulfport, Mississippi and northeast of New Orleans, Louisiana...
’s (USM) most famous benefactor.
McCarty drew global attention after it was announced in July 1995 that she had established a trust through which, at her death, a portion of her life’s savings would be left to the university to provide scholarships for deserving students in need of financial assistance. The amount was estimated at $150,000, a surprising amount given her menial occupation.
Personal
McCarty was born in Wayne County, MississippiWayne County, Mississippi
-Demographics:As of the census of 2000, there were 21,216 people, 7,857 households, and 5,853 families residing in the county. The population density was 26 people per square mile . There were 9,049 housing units at an average density of 11 per square mile...
and moved to Hattiesburg as a child.
In the sixth grade, her aunt (who had no children of her own) was hospitalized and later needed homecare, so McCarty quit school, never to return. She would later become a washerwoman, like her grandmother, a trade she would continue until arthritis forced her to quit in 1994.
McCarty's grandmother died in 1944, her mother in 1964, and her aunt in 1967. McCarty never married or had children.
McCarty died from cancer
Cancer
Cancer , known medically as a malignant neoplasm, is a large group of different diseases, all involving unregulated cell growth. In cancer, cells divide and grow uncontrollably, forming malignant tumors, and invade nearby parts of the body. The cancer may also spread to more distant parts of the...
in 1999.
Frugality
Even before dropping out of school, McCarty was taught to save money by her mother. She opened her first savings account at First Mississippi National Bank, and over the years opened several other accounts at various area banks, including Trustmark National Bank, which she appointed trustee of her trust and executor of her estate.McCarty never owned a car; she walked everywhere she went, pushing a shopping cart nearly a mile to get groceries. She rode with friends to attend services at the Friendship Baptist Church. She did not subscribe to any newspaper, considering the expense an extravagance. Similarly, although she owned a black and white television, she only received transmissions via the airways. In 1947, her uncle gave her the house in which she lived until her death. She also received some money from her aunt and mother when they died, which she also placed into savings.
The gift
Over time, Trustmark Bank personnel noticed McCarty's accumulated savings, and began to assist her in future estate planning, as well as being unofficial guardians for her. (Bank employees and other friends convinced McCarty to purchase two small window air conditioners for her house and cable television service.)With the assistance of a local attorney (for whom she had done laundry) and the bank's trust officer, using slips of paper and dimes (to represent 10% shares), McCarty set out the future distribution of her estate. She set aside one dime (10%) for her church, one dime (10%) each for three relatives, and the remaining six dimes (60%) for Southern Miss. She stipulated that the funds should be used for students, preferably those of African-American descent, who could not otherwise attend due to financial hardship. When news of McCarty's plan was made public, local leaders immediately funded an endowment in her honor.
She signed an irrevocable trust, allowing the bank to manage her funds, from which she received a regular check.
Honoraria
In 1998, she was awarded an honorary degree from USM, the first such degree awarded by the university. She received scores of awards and other honors recognizing her unselfish spirit, and President Bill ClintonBill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
presented her with a Presidential Citizens Medal
Presidential Citizens Medal
The Presidential Citizens Medal is the second highest civilian award in the United States, second only to the Presidential Medal of Freedom. It is awarded by the President of the United States, and may be given posthumously....
, the nation’s second highest civilian award, during a special White House Ceremony. She also won the United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
' coveted Avicenna Medal for educational commitment. In June 1996, Harvard University awarded McCarty an honorary doctorate alongside Maya Lin, Walter Annenberg, and Judith Jameson.
She is often referred in Robin Sharma
Robin Sharma
Robin Sharma is an author. Sharma has written 11 books; including "The Monk Who Sold His Ferrari" and "The Greatness Guide". His latest book is "The Leader Who Had No Title: A Modern Fable On Real Success in Business and in Life".-His Life:...
's talks related to leadership.