Byrd estate creates $1 million endowments for Charleston city, schools

Two $1 million gifts from the estate of James L. Byrd III have established endowments that will forever benefit the City of Charleston and the Charleston R-1 School District. The new funds were announced today at the law office of Reginald E. Young, personal representative of the James L. (Jim) Byrd Estate.

The endowments will be held by the Bootheel Regional Community Foundation, the newest affiliate of the Community Foundation of the Ozarks. The CFO will manage the funds for long-term growth and to benefit the Charleston community.

Prior to today’s announcement, gifts from Byrd’s estate also funded:

• The James L. Byrd III Memorial Scholarship Fund, held by the CFO, which will provide scholarships to Three Rivers College for graduates of Charleston or East Prairie high schools, as well as Mississippi County residents with a high school equivalency certificate.

• The James Lanier Byrd III Endowed Scholarship, held by the Southeast Missouri State University Foundation, which will provide scholarships to SEMO for graduates of Charleston or East Prairie high schools, as well as Mississippi County residents with a high school equivalency certificate.

• Improvements to Charleston city parks, including construction of a walking and biking trail.

“The generous gifts from the estate of James L. Byrd to benefit the City of Charleston and the Charleston R-1 School District illustrate the value of community foundations and why the Bootheel Regional Community Foundation has been formed,” said Jim Grebing, founding board member of the BRCF and executive director of the Bootheel Regional Planning & Economic Development Commission. “As an affiliate of the Community Foundation of the Ozarks, we have access to resources and support to offer a variety of charitable fund options that can serve our communities in new ways and help ensure a better future for our region. There are a lot of generous people with ties to the Bootheel and the BRCF offers opportunities to leave a lasting legacy.”

Mr. Byrd died in 2020 at the age of 90. A lifelong resident of Charleston, he founded the South Missouri Broadcasting Company in 1954 and operated KCHR until his retirement. He served with the Missouri National Guard for 16 years and was a member of the United Methodist Church of Charleston. He loved trains, especially steam engines, Packard automobiles and radio broadcasting, and was an expert on each of these subjects. He was known for his generosity during his life, having donated pipe organs to the United Methodist Church of Charleston and the First Baptist Church of Charleston.

How Endowments Work

• Gifts to an endowment are permanently protected.

• The endowment is invested and managed for growth. Historically, the CFO’s investments grow about 7% annually, but are subject to market fluctuations.

• Each year, a percentage of the endowment — currently 4% — is distributed to the agency to use as needed.

• As the endowment grows, the amount distributed each year grows as well.

• Community members can help build the endowments by giving at cfozarks.org/donate; enter “Charleston” into the search field to find the funds.