The Iowa Stater
May 2001
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Doing what's natural
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Jean Hempstead |
Jean and his wife Edna, who died in 1988, both graduated from Iowa State. Jean earned a bachelor's degree in civil engineering in 1926 and Edna, a bachelor's degree in home economics education in 1923. Hempstead has a lifetime of memories, but one he will never forget is the bank closings during the Depression. He said he felt fortunate that during those times, he and his wife managed to have luck on their side, while many people suffered greatly.
"I didn't have any money in the stock market at that time," Hempstead said. "I had always wanted to invest, but my wife was against it."
Some years later, the couple made a deal – a deal that lasted more than 40 years.
"I told her that I would give her $1,000 to buy bonds if she let me take $1,000 and invest it," he said. "We went on this way for a number of years. It wasn't until I had retired from Iowa State in 1973 that I really looked at everything and realized we had some money."
One of the most gratifying things he has done during his life, Hempstead said, was to set up a fund in the College of Engineering to provide undergraduate scholarships in industrial education. He and colleague Joseph Walkup, professor of industrial engineering who retired in 1975, donated gifts they received when they retired to create the Hempstead-Walkup Fund for Industrial Engineering.
Over time, Hempstead has given to more than a dozen different colleges and projects at Iowa State. For him, being a philanthropist comes naturally out of his desire to help others. He sums up his motivation by saying, "I give simply because I enjoy giving, and it brings me and others great joy."