St. Aug's, Shaw, Benefit From Large Gifts
Posted January 28, 1997
RALEIGH — St. Augustine's College and Shaw University are set to benefit from the generosity of a Raleigh couple. Barney and Phyllis Joyner have made a bequest of $500,000 to each school's business department. The gifts would be among the largest ever to the two schools.
The Joyners have made the gifts as remainder trusts, so that the colleges will receive the bequests after the couple's deaths.
Joyner said the gifts were meant as a "pay-back" to Southeast Raleigh, where he had established his successful company, Joyner Realty.
The Joyners live in West Raleigh. Neither ever attended Shaw or St. Augustine's; Joyner is a UNC graduate.
Officials at both Shaw and St. Augustine's expressed gratitude for the Joyners' generosity, which came to both institutions as unsolicited donations.