Trust withdraws $250M gift to Centre College
- The A. Eugene Brockman Charitable Trust withdrew its $250 million gift to Kentucky's Centre College after the deal couldn't be finalized and approved in the available amount of time.
- According to the news release, the gift—one of the largest to higher ed in U.S. history—was linked to a "significant capital market event" and that the college was put under a great deal of pressure to structure the gift and a proposed scholarship program in a limited amount of time.
- Centre's president, John Roush, says the school will still work to create a scholarship for students majoring in natural sciences, economics and computational sciences, as was intended with the gift.
From the article:
... "I am deeply disappointed with this unanticipated development," Centre College President John Roush said in a statement. "The Trust was inspired to make this gift because of the transformational education students receive at Centre, and we anticipated hundreds of young men and women benefiting from this scholarship." ...
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