Richard J. Masterson

Richard J. Masterson (‘82) established the Masterson Business Scholarship Fund on March 22, 2002. On October 3, 2017, Mr. Masterson signed an amendment to change the name of the endowment and amend the criteria of the scholarship. The name of the endowment was changed to the Thomas Masterson Memorial Scholarship Endowment. The scholarship honors Richard’s father, Thomas Masterson, who throughout his life and career, led by a good example with ethical behavior in business. These choices included choosing family over career. Three of his children, Elizabeth Beahm (‘75), Richard (’82) and Carolyn (’93), graduated from James Madison University.

The criteria of the scholarship were amended to the following:

The Thomas Masterson Memorial Scholarship Endowment will provide funds annually to one full-time College of Business student who has completed COB 300-Integrated Functional Systems. Dependent on the amount of available annual expendable funds, the donor desires that the Masterson Memorial Scholarship provide an award equal to in-state tuition (not to include room and board, textbooks or incidental expenses). As part of the scholarship application process, each applicant is required to write an essay based on a topic chosen by the Dean of the College of Business. This is not intended to be a contest but will be taken into consideration when awarding the scholarship. The selection of Thomas Masterson Memorial Scholars will be made at the discretion of the Dean of the College of Business and will follow the university’s guidelines for the awarding of scholarships.