Class of 1987 alumni Dwight and Moira Jacobs recently made a transformational estate gift in support of the Carolina Covenant. The groundbreaking program is celebrating 20 years of success in 2024-25. (Photo submitted by the Jacobs)
Dwight and Moira Jacobs’ transformational estate gift will support future generations of Carolina Covenant scholars.
“If we could help 20 Dwights, that would be amazing.”
That’s the kind of legacy Dwight Jacobs ’87 and his wife, Moira ’87, are building at UNC-Chapel Hill. For Dwight, giving back to Carolina isn’t about recognition. It’s about remembering what it felt like to need help and making sure the door stays open for the next student walking a similar path.
Long before he was in the C-suite at Duke Energy, Dwight was a kid with roots from rural Robeson County, part of a Lumbee Indian family, figuring out what college even meant. His dad passed away just before high school graduation. His mom worked in the school cafeteria. And though the Carolina Covenant didn’t exist yet, the spirit behind it — the belief that potential shouldn’t be limited by financial circumstance — was already at work in his life.
Now, decades later, Dwight and Moira are paying that belief forward in a big way. The Jacobses’ transformational estate gift in support of the Carolina Covenant — UNC-Chapel Hill’s groundbreaking program that meets qualified low-income students’ full financial need through grants, scholarships and work-study — ensures that other students can access the same life-changing opportunities.
“It’s tough to ask for help, even humiliating” said Dwight. “You have to swallow your pride a little bit. So it’s not only my blessing, it’s my obligation now to do that for somebody else. I’m so grateful to be on this side of the table, able to give.”
Investing in the future
The Jacobses’ planned gift will ultimately fund approximately 20 Carolina Covenant students, a tangible legacy that means the world to Dwight and Moira. Though the couple supports several areas of the University — including the American Indian Center, The Rams Club and Kenan-Flagler Business School — they felt compelled to focus their estate planning on the Carolina Covenant because of their belief in the program’s longevity. The University is celebrating 20 years of the program’s success throughout 2024-25.
“The Covenant helps everybody who’s looking for a leg up — qualified, outstanding students from all walks of life who just need some financial help,” Dwight explained. “This felt like the most certain thing for me to support through time. Colleges, deans, chancellors come and go, but outstanding, creative students who lack means do not. They’ll be here for a long time.”
As a first-generation college student and one of four brothers, Dwight said college was a dream nurtured by hope more than knowledge.
“I didn’t really know what college meant,” he recalled, “but I always wanted to go, and my parents supported that. They knew it was the ticket out.”
He applied to only one school: UNC-Chapel Hill. “That was probably dumb,” he laughed, “but I got in.”
His time at Carolina shaped every aspect of his life, from his education and friendships to meeting Moira. He even found a place in Carolina athletics as a manager for the JV men’s basketball team in the Dean Smith era, when former head coach Roy Williams — who’s also said he would have been a Covenant scholar — was coach.
“UNC gave me a piece of parchment that’s allowed me to make a good living and understand the world better,” he said. “I love Carolina; I am not me without it.”
“The Jacobses’ gift — and the spirit behind it — is representative of the regenerative nature of investing in talented people,” said Candice Powell ’06, ’21 (PhD), director of the Carolina Covenant. “Those talented people invest in other talented people, recognizing the measurable ripple effect that this investment has on a person, their families, communities and the world.”
Giving time and talent
The Jacobses visit campus regularly. Both their children attended UNC-Chapel Hill, as did two of Dwight’s three brothers and his daughter-in-law. Dwight has served on the UNC Children’s Hospital Board, the UNC-Chapel Hill Board of Visitors, and taught at the business school. He currently serves as chair of the Alumni Committee on Racial and Ethnic Diversity. ACRED, as Dwight explained it, is more than a committee: It’s a bridge between Carolina’s diverse alumni and the University’s philanthropic goals.
“It’s part of the University Development Office, and we see ourselves as part of the successful sales force for Carolina,” he said. “Each of us works in communities we came from, helping connect diverse donors with the University and making sure those communities know they belong at UNC.”
Dwight stressed that ACRED’s mission is ultimately about opportunity. “We care about students getting a shot. It’s about making North Carolina better. When all communities do well, the state does well. More people with education means more opportunities, more progress.”
He’s especially proud of the group’s advocacy and impact, including working directly with deans and University leaders to ensure student voices are heard. One powerful example: When Native American studies offerings were being reduced, ACRED took action.
“A student came to one of our meetings and shared their experience,” recalled Dwight. “We got anxious, we rallied, we worked the phones. We reached out to the dean of the College of Arts and Sciences, and we told him, ‘This matters.’ And he listened. Now, there’s a newly hired cohort of well-credentialed scholars in that area. That’s memorable to me — when we were heard and helped make a difference.”
Leaving a legacy
Reflecting on his years of involvement and giving, Dwight encouraged others, especially young alumni, to find their own ways to contribute.
“UNC is a big place, and it needs volunteers, too,” he said. “There are all kinds of ways to plug in. It took me 20 years after graduation to get involved again — but now I feel like I’m leaving the University better than I found it.”
That drive to leave a legacy is at the heart of Dwight and Moira’s gift to the Carolina Covenant.
“The Jacobses’ transformative gift makes our University a richer, more productive space of innovation and leadership by ensuring we can keep bringing the best and brightest from all walks of life to Chapel Hill,” added Powell.
“Knowing what the fruits of our labor will do for others gives me joy, satisfaction and pride,” Dwight said. “It makes me smile every morning.”
Written by Angela Harwood, University Development
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Create a Lasting Legacy at Carolina
The Jacobses are proud members of the Gerrard Society, a distinguished group honoring individuals who have made documented commitments to the future of UNC-Chapel Hill through bequests, retirement plans or beneficiary designations.
You too can make a lasting impact at Carolina. The Office of Gift Planning offers expert guidance to help you explore your philanthropic goals and develop a strategy that reflects your values. Whether you’re ready to document your commitment or want to learn more about creative giving options, our charitable planning professionals are here to help.
Learn more at unclegacy.org or contact the Office of Gift Planning today.
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