Smart Planning Helped Jack Steele, M.D. Realize a Longtime Wish

Year after year, he was always there for his patients. Now, his legacy will inspire a new generation at UAMS to follow his example.

As a longtime family medicine doctor in the greater St. Louis area, the late Jack T. Steele, M.D., spent decades providing excellent patient care. Thanks to his thoughtful planning and dedication, Jack realized his wish to create an endowed chair in the College of Medicine.

"We are grateful for the late Dr. Steele's generosity and longtime support for our university and college," said Christopher T. Westfall, M.D., executive vice chancellor of UAMS and dean of the College of Medicine. "As a family physician, Dr. Steele understood how important primary care physicians are for our patients and communities, and this has never been more true than today. The Jack T. Steele, M.D., Endowed Chair in Family and Preventive Medicine will support outstanding education and training of family physicians for generations to come."

The chair will support the activities of the Department of Family and Preventive Medicine. Over the years, the department's residency program has graduated more than 275 family medicine physicians and trained thousands of medical students in family medicine.

Jack was born in 1926 in Lynn, Arkansas, and moved to Walnut Ridge at age 3. He was a cadet at the U.S. Naval Academy from 1945-1946, and graduated from the University of Arkansas at Fayetteville in 1948 with degrees in psychology and philosophy. In 1952, he graduated from the University of Arkansas School of Medicine (now UAMS), and completed an internship with St. Louis City Hospital. He then served as a Navy physician from 1954-1956. His longtime medical practice included greater St. Louis, Ferguson and Bridgeton. Four of his sons are physicians.

Jack, a longtime supporter of UAMS, died March 6. Over the course of his life, he was incredibly grateful for the education he received at UAMS and decided to give back.

Jack was deliberate and thoughtful about his giving. He funded his first charitable gift annuity in 1999. In return, he received a fixed annuity payment for his lifetime and a charitable deduction that year. Over the next 20 years, he funded 14 additional gift annuities. Since charitable gift annuity payments are based on age, each new annuity had a higher payout – a smart investment. His financial advisor helped him choose stock to donate to fund each annuity.

In addition to providing significant annual income for his lifetime, the remainder of the $680,000 in annuities helped fund the chair. Jack also named UAMS as the beneficiary of an IRA to fully fund the chair at over $1 million. The savvy strategy ensured his retirement account came to UAMS tax-free, enabling him to leave other non-taxable assets to his family. Now, the Steele chair will honor his family's legacy in perpetuity.

"We are honored to have Dr. Steele as a member of the 1879 Society, recognizing all donors who have made planned gifts," said Angela Wimmer, M.Ed., vice chancellor for Institutional Advancement.

To see the current gift annuity rate for your age, try our online calculator. Maximize your philanthropic goals with planned giving at UAMS, helping us fulfill our mission for many years and generations to come. It would be our privilege to help you discuss your legacy.