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09-27-2011


UC Receives Significant Bequest

Williamsburg, Ky. - Walter C. Kronke of New York State has been a friend of UC – Cumberland College since 1993 and although he never visited our campus, he gave annually to help provide financial assistance to our needy students.

Mr. Kronke had a career in accounting and corporate finance. His home circumstances influenced and stressed the need for financial security. It was summer vacation jobs at a Wall Street bank that gave him his drive and early business experiences.

He received his B.S. in accounting, with honors, from New York University in 1933 and made CPA thereafter. In 1934, he was employed by the Standard Oil Company of New Jersey, which is now known as Exxon Mobil. He was with Standard Oil until he began military service in World War II, serving from 1943 to 1946 in Brazil, providing petroleum services with an air transport command. Mr. Kronke was honorably discharged with the rank of Captain and a Quarter Master.

After the war, and thereafter until his retirement in 1977, Mr. Kronke was an executive with the Consolidated Natural Gas Company in New York City where he held the titles of Chief Financial Officer, Vice President of Finance, Treasurer and Member of the Board of Directors.

Mr. Kronke was a righteous person; there was a purpose and reason for everything that he did. His decisions, as agonizing as they were to him, were designed to meet his thought processes, whether dealing with lunch or philanthropy.

Cumberland College was always near and dear to Walter Kronke’s heart, and he told others that one day he was going to help the students at this small Appalachian College, and in his passing he did just that. On September 6, 2011, University of the Cumberlands received a gift of $500,000 from Mr. Kronke’s estate.

Walter C. Kronke touched the hearts of all that knew him. He performed good deeds for many during his life and has carried that legacy into his passing.

Cumberlands acknowledges with deepest appreciation the caring concern and compassion of this wonderful friend, Walter C. Kronke.