Dr. Lee Bodenhamer's Obituary
Dr. Lee Bodenhamer passed away peacefully on February 20, 2025 at the age of 90. Born in 1934 in El Dorado, Arkansas, to the late O.L. and Irene Bodenhamer, Lee’s life was a blend of intellectual pursuits, generosity, adventure, and a deep love for Arkansas and its people.
Raised by his widowed mother, Lee developed an unwavering dedication to education. He instilled those same values in his family, modeling kindness, determination, curiosity, and humility. A devoted father and grandfather, Lee, fondly known as Bodie, shared his passion for adventure and nature with his loved ones. Together, they canoed the Buffalo River, fished in Alaska, white water rafted across the country, flew kites on many beaches, and camped, backpacked, and climbed the Grand Teton. Forever seeking new challenges, Lee drove a motorcycle cross country and got his pilot's license in his later years.
Lee’s commitment to learning shaped not only his life but also his legacy. He earned his BS in Business Administration in 1957 and his MBA in 1961 from the University of Arkansas, followed by a PhD in Finance from Harvard Business School in 1968. While at Harvard, he taught as a faculty member and pioneered the development of commercial variable annuity investment products. Ultimately, Lee returned to Arkansas, where he founded the First Variable Life Insurance Company in Little Rock. In 1977, he established Meridian Management Company, where he served as president and built it into a successful investment management firm. His first client was The World Bank Employee Retirement Fund, and his investment expertise was featured in prominent publications, including a 1983 cover story in Barron’s magazine.
Lee’s legacy extended far beyond his business achievements. In 1998, he founded the Bodenhamer Fellowships at the University of Arkansas, a prestigious scholarship program that has provided full tuition and study abroad opportunities to 174 scholars since its inception. This program aims to retain Arkansas's brightest students - now and into the future - while fostering a strong sense of community and contribution.
His philanthropy reached public health, education, and conservation initiatives. Lee played a pivotal role in establishing The Nature Conservancy’s Rattlesnake Ridge Natural Preserve in Central Arkansas, ensuring its protection and accessibility for the public. Lee also served on numerous boards, focusing on healthcare, higher education, technology, and the Sigma Chi fraternity. His dedication was widely recognized—he received an honorary Doctor of Arts and Humane Letters from the University of Arkansas in 2013, was inducted into the Arkansas Business Hall of Fame in 2008 and was named one of “25 Living Legends” in 2009 by Arkansas Business. In 2017, he was awarded Outstanding Philanthropist by the Association of Fundraising Professionals.
Despite his many accomplishments, Lee remained forever grounded and humble. He was preceded in death by his wife, Beverly, in June 2024. His former wife and the mother of his children, Eleanor Bodenhamer Frank also predeceased him along with his daughter-in-law Melissa Greer Bodenhamer and sons-in-law Justin “Jud” Ternes and Stuart Rosso.
Lee is survived by his sister, Nancy Rosser (Jim) of Kerrville, TX; his children, Ann Ternes Rosso (Wayne Britt) and Bob Bodenhamer of Fayetteville, Jim Bodenhamer (Sue Golden) of Parker, CO, John Bodenhamer (Nina) of Fort Collins, CO, and stepson Gary Apple (Marsha) of Eureka Springs.
He also leaves behind his grandchildren: Erin Ternes (Seth McIntosh), Justin and John Michael Ternes, Lauren Rosso (Turner Tomlinson), Elle Wood (Sam), Hannah Riley (Ben), Leah (Scott Horner), Eliza, Sarah, Abby Jo, Katherine, Emily, Elizabeth, and Lena Bodenhamer; Gigi and Brock Golden; Ashley, Shawn, and Andrew Apple; and Justin, Bryan, and Corey King.
Additionally, Lee is survived by his nephews, Jim Rosser (Leanne) and Jack Rosser (Kim); his niece, Barbie Kline (Ron); and seven great-grandchildren.
A private memorial service will be held, and the family invites you to share a brief story or anecdote in his memory at [email protected].
In lieu of flowers, donations may be made to the University of Arkansas Foundation to benefit the Bodenhamer Fellows in the Honors College (Office of Gift Administration 481 S Shiloh Drive Fayetteville AR 72701 or giving.uark.edu) or a charity of your choice.
Funeral arrangements are under the direction of Nelson-Berna Funeral in Fayetteville.
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