Osterman makes $9 million estate gift to Hastings College

(Hastings, Nebraska) – Ed Osterman ‘65 made the decision early on in his life to make an annual gift to support Hastings College, directing his gifts predominantly to the care of campus facilities. 

Later on in his life, the business administration graduate would decide to direct the majority of his estate to Hastings College — with a  focus on maintaining the College’s stunning campus. Osterman passed away on Christmas Day in 2023.

His estate, a combination of financial funds and real estate, including a 400-acre farm near Central City, Nebraska, where he was born, raised and spent a good amount of his life. 

All told, Osterman’s estate totaled more than $9 million, making it the single largest gift in the history of the College. About $5 million will be used over the next five years on deferred maintenance projects, while about $4 million was placed into Osterman Endowed Deferred Maintenance Fund within the Hastings College Endowment.

"This gift is such a blessing," said Chelsea LeMar ‘07, executive director of the Hastings College Foundation. “To have someone who worked hard their entire life look back at their experience at Hastings College and want to support the College, it’s just incredible. We appreciate Ed, the Osterman family and this gift, and are thankful to have support in maintaining our beautiful campus.” 

Hastings College President Dr. Rich Lloyd ‘85 added, “Ed Osterman’s generosity is a testament to his lifelong commitment to Hastings College. His legacy will have a lasting impact on our campus, ensuring that our campus remains a source of pride and inspiration for generations of students. We are grateful for his profound contribution.” 

About Ed Osterman
Osterman was born November 11, 1942, in Central City, Nebraska, where he was raised on the family farm. After graduating from Central City High School, he enrolled in Hastings College in the fall of 1961 and graduated in 1965, majoring in business administration with a minor in history. He continued to work on the family farm before retiring, when he moved to Colorado and worked for the Colorado Department of Forestry. He then moved back to Nebraska, where he spent the last three years of his life. 

Osterman was very close with his Central City relatives, Kent and Deborah Carlson, who were instrumental and dedicated to working through all the details of transferring the estate to Hastings College.