Our History
"We need to impress on all citizens the need to make contributions supporting our community."Our Past Inspires our Future
Elton Stephens in the 1980s
In the first summer of the Great Depression, Elton B. Stephens sold magazines door-to-door in order to help pay for his education at Birmingham Southern College in Birmingham, AL. Elton quickly realized something about himself—he could sell. That summer, he made enough money to pay for next year’s tuition. The following summer, Elton B. Stephens assembled and coordinated a team of friends to assist him; and he learned that he was not only a good salesman, but also a good manager.
By 1936, at 25 years old, Elton had graduated from the University of Alabama Law School and was earning more money weekly managing sales people part-time than a starting attorney could make in a month. Eventually, in 1944, Elton set out to pursue his aspirations. He and his wife Alys formed a partnership and began what would become one of the largest privately held companies in the United States.
Elton Stephens in the 1980s
Paving the Way for Corporate Responsibility in Alabama
Chairman and Founder Elton B. Stephens made a significant commitment in 1978 by pledging 5% of pre-tax profits to charitable causes. That same year, he established the Alabama Percent Club to encourage other corporations to adopt similar practices. Members of the Alabama % Club pledged to donate 2%, 5%, or 10% of their pre-tax profits to charities. By 1999, the club had 101 members, it was thought to be the largest of its kind in the country.
“It was designed around the idea that businesses have an obligation to enrich the community in which they live and operate. I think if successful business people are lucky enough to live in an area where they have been successful, they owe a part of their earnings back to the community that made them successful.” — Elton B. Stephens, 1999 interview with the Birmingham Business Journal
Consistent Priority
Elton B. Stephens overlooks construction of the Elton B. Stephens Expressway, which the city of Birmingham and state of Alabama named after him because of his support for civic projects.
EBSCO has remained steadfast in its 5% commitment. Initially, non-profit organizations submitted request letters directly to Elton Stephens, who managed these requests until 1998. His son, J.T. Stephens, then took over as company president and led the charitable-giving operations. From 2000 to 2017, Dell Brooke, Elton Stephens’ daughter, oversaw the program. Recognizing the opportunity to involve more family members and ensure the legacy’s continuity, Brooke collaborated with others to form a giving committee. Today, a dedicated committee of five family members continues Elton’s legacy.
Elton B. Stephens overlooks construction of the Elton B. Stephens Expressway, which the city of Birmingham and state of Alabama named after him because of his support for civic projects.