College of William and Mary Receives $23.9 Million Bequest

The College of William & Mary has announced a bequest of $23.9 million from the estate of alumnus ('37) and longtime supporter Walter J. Zable.

The gift from Zable, who died in 2012 at the age of 97, includes $10 million for scholarships for student athletes and another $10 million for renovations to Walter Zable Stadium. The university is considering how best to use the remaining $3.9 million in undesignated funds. The stadium was renamed in 1990, when Zable and his late wife, Betty Virginia Carter Zable ('40), pledged $10 million of their estate toward student support, including the establishment of the Walter J. and Betty Carter Zable Scholarship Endowment. The endowment is designated to "provide support for students who have demonstrated significant academic achievement, with preferences for those participating in football or other intercollegiate athletics." Zable later directed that another $10 million of his estate be designated for the now 78-year-old stadium.

The bequest brings to $29.4 million the couple's total giving to the college. Zable, who received a bachelor's degree from the university in physics, was an honorable mention All-American in football and also lettered in baseball, basketball, and track. He founded the Cubic Corporation, which develops technology systems for military training and transportation services, and served as its board chair, president, and CEO until his passing.

"Walt was such a strong advocate for our athletics program, and this gift will address two very important pieces to future success — our student athletes and our facilities," said the college's director of athletics, Terry Driscoll. "This gift will allow us to underwrite the cost of education for our student athletes and continue that support in perpetuity. It also provides a very good start to the private fundraising needed to renovate the beautiful but aging Zable Stadium."

"William & Mary Receives $23.9 Million From Walter J. Zable Estate." College of William & Mary Press Release 04/12/2013.