A longtime food industry executive and his wife have established a charitable remainder annuity trust that one day will provide a significant boost to the university's general scholarship fund.

Luke Davis of Germantown, Tenn., a 1941 Mississippi State dairy science graduate and retired executive vice president of Kraft Foods, and his wife, Ruth, established the $527,000 trust with their daughter as the income beneficiary.

Mrs. Linda Davis Bryant, also of Germantown, will receive income from the trust until the funds are transferred to Mississippi State to establish the Ruth and Luke Davis Scholarship Fund.

"A charitable remainder annuity trust is a planned gift which allows the donor to receive income for life, or designate a loved one as the income beneficiary for life," said Richard Armstrong, the university's director of planned giving. "At the same time, the benefactor receives a substantial income tax break.

Ruth and Luke Davis

"This type of trust enables the funds to be invested and to grow substantially over time," he added. "The charitable remainder annuity trust is a unique way for alumni and friends to support Mississippi State, and we are extremely grateful to Ruth and Luke Davis for their generous gift."

Armstrong said that one of the benefits of a charitable remainder annuity trust is the income paid to the beneficiary is guaranteed, based upon a percentage of the value of the trust when it was created. The amount of income each year does not vary.

Luke Davis began his dairy industry career in West Jefferson, N.C., after graduating from Mississippi State. He moved back to Mississippi three months later to manage a Kraft cheese factory in Walnut. After a four-year stint in the military, Davis was put in charge of all cheese plants in Mississippi, Alabama, and North Carolina, before becoming quality control manager for the Southeast Division. By age 29, he was Kraft Foods' youngest division production manager.

The Kemper County native continued to rise through the company's ranks as Central Division production manager, Western Division production manager, Southern Division production manager, and finally to company headquarters near Chicago as general production manager for all Kraft manufacturing facilities. After stints as vice president for production and senior vice president for production, he moved to Memphis, Tenn., as president and chief executive officer of Humco, a vegetable oil refining and sales division of Kraft.

He completed his career with Kraft as executive vice president in charge of operations, which included manufacturing, distribution, engineering, and purchasing. Since his retirement, Davis has been involved in a cattle and farming operation.

Ruth Davis is a native of Blue Mountain.