ATHENS, Ga. – The University of Georgia has received a $3.28 million trust fund that was established 27 years ago by a man who graduated from UGA nearly 100 years ago.
The late George Winship Nunnally of Atlanta created the fund with $1 million in 1975 to provide for his wife, Iona, following his death. Nunnally, a former president of the Nunnally Candy Co. and a 1904 graduate of UGA, stipulated that the fund transfer to the university when Mrs. Nunnally died.
At the time of her death last year, the fund had more than tripled in value. After all the legal paperwork was completed, UGA received $3,281,139 in the Iona Nunnally Trust Fund.
Nunnally, who died in 1975 at age 90 shortly after establishing the trust, had made earlier gifts to UGA. The trust brings his total donations to more than $4 million, making him one of the university’s larger individual private donors.
“Mr. Nunnally was a man who loved his wife and his university, and was able to provide for both of them in a generous way,” said UGA President Michael F. Adams. “He was determined to help advance academic excellence at UGA even though he might not be here to see it happen. We are deeply grateful to Mr. Nunnally for his vision and commitment.”
The trust comes to UGA 99 years after Nunnally, whose father started the Nunnally Candy Co. in 1884, received a bachelor of arts degree from UGA. He also attended Yale University before joining the company. He became vice president in 1907 and president in 1920. He was also a director of the Coca-Cola Co., Delta Air Lines, the Trust Company of Georgia and the Citizens and Southern National Bank.
Prior to his death, Nunnally made a major gift of Coca-Cola stock to UGA. Proceeds from the gift created the Winship Nunnally Scholarship, which is now a part of the Foundation Fellows program, UGA’s top scholarship program.
Nunnally was a founding member of the Presidents Club, an organization of leading private donors to UGA.
Born in Atlanta in 1885, Nunnally was an avid pilot. He was a lieutenant colonel in the Civil Air Patrol in Georgia during World War II and was one of the first CAP wing commanders in the state.