Celebrating the Schaeffers

Stanley Schaeffer being hooded by Dr. Amjad Abdullat at the May 2021 commencement ceremony

Alumni are among the greatest treasure of the Paul and Virginia Engler College of Business; there is no better evidence of the importance of the College, and its mission, than the successes of our graduates. Recently, the College and University celebrated the award of an Honorary Doctorate in Business Administration to Mr. Stanley Schaeffer (class of ’55) in recognition of his extensive leadership and philanthropy in support of the core values of both the University and the College. The Stanley Schaeffer story is a study in the most effective qualities of leadership: purpose-driven, goal orientation, and altruism.

The Schaeffer family connection to the College did not stop with Stanley. David Shaeffer, Stan’s son (class of ’79), inspired by his Father’s example and legacy, has established his own marks of achievement and success as a CPA. In fact, both father and son earned degrees in Accounting from WTAMU. Both also recall fondly the foundational importance of their education. Stanley and David have revelled in opportunities to pay forward their positive experiences in the facilitation of opportunities for students who have followed.

The occasion of Stanley’s honorary Doctorate was inspirational to many, particularly a group of friends and associates of David. These friends pulled their resources to raise $250,000 to develop the David Schaeffer Legacy Scholarship to benefit students in the Paul and Virginia Engler College of Business. This gift was matched by the Paul Engler Foundation to develop a $500,000 scholarship fund. This scholarship is one of the largest scholarship endowments in the college.

Among the many remarkable aspects of this story is the strategy by which the scholarship funds will be allocated. Students whose family members or guardians are alumni of the Paul and Virginia Engler College of Business are eligible for the scholarship such that they too can establish their own legacy stories. Above all, the intrinsic and indelible value of education are stressed by both Stanley and David as among the most important investments an individual can make.

David Schaeffer, Stanley Schaeffer, and Amjad Abdullat

Dr. Amjad Abdullat, Dean of the Paul and Virginia College of Business observed in honoring both: “Stanley and David are the embodiment of legacy.” The most poignant facet of this legacy is the example and guide that Stanley and David have set for others to aspire to. The scholarship will be merit-based and awarded to full-time undergraduate or graduate students majoring in a business program.

We in the Paul and Virginia Engler College of Business are grateful for the opportunities that the David Schaeffer Legacy Scholarship will provide. We also celebrate the Paul Engler Foundation for doubling these opportunities with their matching funds. We eagerly anticipate the new legacy stories that will now be made possible from these gifts.