Kentucky college nets $250-million gift, among biggest ever

[TexasTowelie]

Source: AP

DANVILLE, Ky. — A tiny liberal arts school in rural Kentucky that hosted vice presidential debates in 2000 and 2012 announced a $250 million donation Tuesday, one of the largest single gifts in higher education history.

The all-stock donation to Centre College from the A. Eugene Brockman Charitable Trust ranks among the 20 biggest gifts ever to a U.S. college or university, according to a list maintained by the Chronicle of Higher Education. It is the second-largest such gift to a U.S. school since 2011, according to the Chronicle of Philanthropy, surpassed only by New York Mayor Michael Bloomberg's $350 million donation to Johns Hopkins University announced earlier this year.

Centre will use the money to set up scholarships for students majoring in science, economics and computer science. Centre College President John A. Roush said the gift, which comes in the form of stock in Universal Computer Systems Holding Inc., represents a "fundamental transformation" in the school's ability to support students demonstrating leadership potential.

"The gift marks a fundamental transformation in center college's ability to support students whose hard work, character and intellect have demonstrated their potential for leadership," Roush said Tuesday. "The challenges and opportunities confronting our nation and world are increasingly complex, and the Brockman Scholars Program will empower talented young women and men with the knowledge, creativity and integrity necessary to address them."

Read more: http://amarillo.com/news/national-news/2013-07-30/tiny-kentucky-college-nets-250-million-gift-among-biggest-ever

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Congratulations to Centre College. Centre College was in the Southern Collegiate Athletic Conference along with my alma mater until the conference split last year.

[SylviaD]

1. Wow! Amazing!

This is fantastic news! Think of all the young, up and coming students who will benefit from these scholarships! This is a gift that will keep giving (with good management) forever.

Speaking of good management, if I were the college's financial advisor I would consider selling the stock off in stages and transforming the scholarship fund into cash or gold. Then the interest funds the scholarships forever. With an all-stock fund, it is still somewhat at the mercy of the market. $250 million could become $150 million in a few days if things go south.

[yesphan]

2. The thing to do

of course, is build a big ass football stadium !

[TexasTowelie]

4. Centre College is a NCAA Div. III school.

It does not provide any athletic scholarships and all of its athletes would be considered to be "walk-ons" if they went to another university.

[yesphan]

6. Do it anyway !

Buy some players, get on tv, join a major conference, etc......
It's all about big time football.

(just kidding)

[Jenoch]

3. In addition to the scholarships,

they should reduce tuition rates across the board. College tuition rates are skyrocketing making college unaffordable to middle income families.

[muriel_volestrangler]

5. 1,370 students - $180,000 per student

I guess they will be expanding considerably.

[Posteritatis]

7. Hopefully they won't just build a hive of business schools. (nt)

[A Little Weird]

8. Centre is a good school

I grew up not too far from Danville and they are not kidding when they say it's tiny. The school brings many cool arts events and interesting speakers to an area that is otherwise pretty bereft of such things.

One of my cousins went to Centre on academic scholarship and got a very good education. Hopefully, this will allow more kids to attend.

[TexasTowelie]

9. My alma mater (Southwestern University) is about the same size

and shared the same values about liberal arts education. I never visited the campus, but have read many good things about Centre.