Gresham blacksmith leaves $3.5M for NU scholarships
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BY MELISSA LEE / Lincoln Journal Star
Walter Schmitt may not have gone to college, but he never doubted the value of knowledge.
The son of German immigrants, Schmitt followed in his father’s footsteps by becoming a blacksmith, devoting much of his life to working in the family shop in the southeastern Nebraska town of Gresham.
His parents taught him early to save and spend wisely. And he did, putting his earnings into CDs, savings bonds and a diverse range of stocks.
To see on-camera interviews with Walter Schmitt about America’s farming history, go to www.livinghistoryfarm.org and type "Walter Schmitt" in the search box.
Schmitt never married and had no children. He kept the 120 acres of farmland he inherited from his parents even though he wasn’t interested in farming.
And he lived frugally, wearing the same flannel shirts and ballcap year after year and indulging only in occasional cups of coffee with friends or lunches at Arby’s.
It’s that lifestyle that positioned Schmitt, who died last January at 94, to leave $3.5 million to the University of Nebraska Foundation for scholarships for NU students.
Schmitt’s estate gift is one of the largest the NU Foundation has ever received for scholarships. Foundation President Clarey Castner said the gift will help NU fulfill one if its highest priorities: providing need- and merit-based financial aid for students.
“We are in awe of Walter Schmitt’s generosity, directed to young people he has never met and a school he never attended,” Castner said.
Schmitt’s gift will be permanently endowed, meaning the $3.5 million will be invested and the net income — estimated to be about $170,000 a year — will be available for annual scholarships.
Awards from the Schmitt Scholarship Fund will be available to students beginning this fall, the foundation said. Schmitt did not specify any criteria for the scholarship, only that students be enrolled at one of NU’s four campuses.
In a statement, NU President J.B. Milliken expressed gratitude for Schmitt’s gift and said it’s clear Schmitt recognized the importance of a college education.
“Walter Schmitt’s generous gift will make a significant difference in our ability to offer affordable access to a high-quality education,” Milliken said.
Schmitt was well-known around Gresham — a village of just more than 250 people in York County — for his generosity, said Cindi Heiden, a longtime friend and representative for Schmitt’s estate.
A man of strong faith, he gave often to his church, Heiden said. Schmitt also could be counted on to contribute to just about every town benefit.
“He didn’t have a whole lot of wants,” she said. “He just took care of his needs.”
Schmitt loved to read, Heiden said, especially about finances and history. He would devour issues of Reader’s Digest and Smithsonian magazines, then cut out articles he liked and slip them into textbooks for future reference.
He spent hours reading at the York County Historical Society and was a contributor to the Wessels Living History Farm, a York-based project that details the history of American agriculture.
Last summer, the Utica nursing home where he spent the last few years of his life took a field trip to the Strategic Air and Space Museum in Ashland, Heiden said.
The trip lasted less than a day, but when the group returned, Schmitt told Heiden: “Gosh, I could have spent 2½ days there.”
“He just loved it,” she said. “He was so happy to go.”
That love of learning is reflected in his gift to NU, Heiden said.
“Nebraska was good to him,” she said. “He felt he could share it in that way.
“He was a dear, dear man. I just wish that more people would have had the opportunity to know him.”
Reach Melissa Lee at 473-2682 or mlee@journalstar.com.
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He was also wise enough to have a will in place so that all his hard-work didn't end up back in Uncle Sam's pockets! It always such a shame when the government ends up with the bulk of a life's toil just because we didn't take the time to make a will and leave something for our community, our church or our school. Rest in Peace Mr/ Schmitt, you were a good and faithful servant to others - and now will continue to be forever! "
NOTE to UNL: I know Walt did not leave instructions; but I would think it would be fitting if the recipients of his generous gift be required to weld a Smooth bead with low/no spatter. "
If we had more people like Mr. Schmitt, we'd all have a better life. Imagine having figures such as he in the lives of our youth.
Nebraskans, if you got something to give, give it. That's what makes this place a bastion of what is is right in this world of wrong. "
As I read the story, I was reminded once again of a recurring question that has dogged me for years as similar stories were recounted. That is, why don’t more of us who might be in a position even modestly similar to that of Mr Schmitt, think first of our local public or private schools -- or local communities. There certainly is a need at this level -- which I would venture is even greater than at NU, etc. -- and the funds invested at this level would go farther and serve the needs of more students over time.
In the final analysis, I am not criticizing Mr Schmitt or in any way questioning his judgment or right to make bequests as he sees fit. For that matter, he may already have made significant gifts of this type in his local community. But in either case, I do want to use his generosity to remind everyone not to forget those worthy entities closer to home when deciding where to direct your philanthropy. "
He probably could've gone toe to toe with Warren Buffet, their common sense outlooks appear to be similar.
Too bad people like him aren't invited to campuses to speak instead of people like William Ayers.
This gentleman is a Nebraska builder in the true sense...may he forever rest in peace. "