Richard Francis Demong

DEMONG

RICHARD FRANCIS DEMONG

Richard Francis DeMong of Charlottesville, Virginia passed away peacefully on August 5, 2023, after a valiant battle with glioblastoma. He was a beloved family man, a man of service and faith, an esteemed Professor at the University of Virginia's McIntire School of Commerce, a highly decorated U.S. Air Force Colonel, and a friend to all who were blessed to know him.

Rich was born on May 2, 1944, in Freeport, Illinois to Maurice and Jane DeMong. He spent

his childhood in Illinois and New York before moving to Southern California. He learned about service at an early age, starting as an altar boy and proudly earning the Eagle Scout Award. He graduated in 1966 from the California State University, Long Beach with a degree in Political Science.

After graduating from college, Rich joined the U.S. Air Force. He flew 896 combat missions in support of operations in Vietnam, Cambodia, and Laos, serving as co-pilot, pilot, and an instructor in the C-130 aircraft. His military decorations include the Legion of Merit, Distinguished Flying Cross, five Air medals, and fifteen other medals or ribbons. Rich left active service in 1972 and served in the Air Force Reserves until his retirement as a Colonel in 1989.

Upon leaving active duty, Rich returned to his studies and completed his M.B.A. at the College of William and Mary in 1974 with a focus in finance and management. In 1977, he received his Ph.D. in Finance and Management Science from the University of Colorado.

Rich accepted a position as an Assistant Professor in 1977 at the University of Virginia's McIntire School of Commerce where he spent the entirety of his academic career. Upon his retirement in 2010 as the Virginia Bankers Association Chaired Professor, he wrote in his reflections as being "privileged to know and teach from the Class of 1978 to the Class of 2010."

Over his illustrious academic career at UVA, he was a beloved teacher of many finance courses and authored numerous articles and books. His research led him to be a sought-after expert regarding subprime and non-prime mortgage and home equity lending. In 2004, he testified to two subcommittees of the U.S. House of Representatives on the need for federal regulations of subprime and predatory lending. Rich was humbled to be the first McIntire faculty member selected as the University's Secretary of the General Faculty, a position that dates back to Thomas Jefferson.

Following his retirement from the University of Virginia in 2010, he continued as a faculty advisor to the McIntire Investment Institute and served on the Board of the University of Virginia's Physician Group. He was active in community service including the Rotary Club of Charlottesville where he was awarded Rotarian of the Year in 2015 and was on the board of the Senior Statesmen of Virginia, the Senior Center, the Charlottesville Committee on Foreign Relations, the Central Virginia Chapter of Military Officers Association of America, and the Village of Innisfree.

His thirst for knowledge continued as he enrolled in lifelong learning courses, joined the Oliver Turner Society, became a member of a Bible Study, and learned T'ai Chi. Rich was an avid traveler, reader, and connoisseur of knowledge and he truly never stopped learning. He loved the mountains and the great outdoors, history, all things Disney, classical music, trains, UVA and his grandchildren's sports, was an amazing ornithologist...and of course he could not make it through a day without a cold Diet Coke and a scoop of ice cream.

Above and beyond all of these vast achievements and interests, Rich loved and prioritized his family. He penned to his children "I have accomplished a lot, but none of my accomplishments were as important to me as you all were. I had a great life because I got to know each of you as individuals." He attended nearly all of his large family's celebrations including many events and trips with his beloved aunts, uncles and "dozens of cousins." He was never too busy to cheer on a grandchild at any event or on any occasion. He loved so deeply and was the foundation for his blended family. He was blessed to share his young adult days with his first wife, Sue, mother to Cheri and Lynn. In his midlife, he married the love of his life, Linda, mother to Suzie and Mike, and they were blessed with 30 years together before she preceded him in death in 2017. In 2020, he met Adele "Hutch" Livingston who became his fiancée and loving partner until his death.

He is survived by his children: Suzanne Odell, Michael Krongaard, Cheryl DeMong Hubbard, Lynn Waidelich; his fiancée Hutch Livingston; his 11 grandchildren: Emily Odell Kirven (Blake), Linda Blake Krongaard, Garrett Odell, Mikey Krongaard, Mary Jo Krongaard, Catherine Hubbard, Marian Claire Hubbard, Matthew Waidelich, Andrew Hubbard, Mary Waidelich, and Daniel Richard Waidelich, his son-in-laws George Odell, Thomas Hubbard, and David Waidelich; his brother Robert DeMong; sister Cheri Teale (Peter); sister-in-law Mary Gould-DeMong and nephew Michael DeMong.

In lieu of flowers, please consider donating to McIntire School of Commerce or Cristo Rey Richmond High School. Gifts to the McIntire School of Commerce Foundation will support the Alice V. Griffin Bicentennial Scholars Fund and may be made online (www.commerce.virginia.edu/give [commerce.virginia.edu]), or to the McIntire School Foundation PO Box 400173, Charlottesville, VA 22904-4173. Gifts to Cristo Rey Richmond High School where Rich's daughter, Lynn, is the principal, may be made by sending a check to 304 N Sheppard Street, Richmond, Virginia 23221 or donate to (https://www.cristoreyrichmond.org/support/givenow/ [cristoreyrichmond.org]). For any donation, please indicate that your gift is in memory of Richard DeMong.

A visitation will be held on August 12 at 12:30 p.m. at the Church of the Incarnation in Charlottesville, VA, followed by a Mass of Resurrection at 2 p.m.

"There is a season for all, and my season has ended, not with sadness, but with joy, for I lived it," were his departing words to his family. We imagine upon his death, he was greeted by the Lord with the sentiment, "well done good and faithful servant" (Matthew 25:21).