Funding for research at LSU Health Shreveport received a big boost with the sale of land from the estates of Malcolm and Carroll Feist. The land sale brought an infusion of over $3 million to the LSU Health Shreveport Foundation. Chancellor Robert Barish said initiatives identified at a recent research retreat will be among priorities for the funds, which are restricted to cancer and cardiovascular programs.
Land Auction nets over
$3 Million for Cancer and Cardiovascular Research
at LSU Health Shreveport
"We recognize that philanthropic support will be the engine that drives LSU's future, and support continues to grow," said Chancellor Barish. "The Feist brothers have established a legacy that is inspiring to others who appreciate theintellectual and cultural capital of the health sciences center and its immense value to the region. We are very blessed to have so much local support."
Malcolm and Carroll Feist were brothers who bequeathed virtually the entirety of their estates, valued at more than $100 million, to LSU Health Shreveport for medical research. Their family had vast land holdings in Caddo and Bossier Parishes. Malcolm, a local attorney, died in 1985, designating his gift for cardiovascular research. With a love of learning and relationships forged with campus leaders, Carroll was a generous supporter even before his death in 2005. The Feist-Weiler Cancer Center, named for the brothers' families, was made possible with money Carroll donated.
In October, 1,650 acres of their land was auctioned by sealed bid. More than 300 bids were received for the properties, which were offered with another 2,500 plus acres. The new owners plan a variety of uses for the diverse racts - from home development to timber farms to hunting leases. Local PGA golf professional David Toms' foundation bought 60 acres of the Feist land, which will be consolidated with other property he owns, for a golf facility that will include a youth development area. Some land parcels in south Shreveport were not sold as part of the auction. Mineral rights were retained so that any earnings from oil and gas will be used to continue to support medical research at LSUHS.
The Feist legacies are gifts that keep giving," said Foundation President Catherine Nobile. "We are deeply conscious of our responsibility to properly steward these very generous expressions of private support for LSU Health Shreveport."