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Recent Private Gifts to Higher Education: Princeton Gets $65 Million

By Chronicle Staff December 16, 2018

Among the latest largest gifts are a $65-million donation that will help Princeton University expand its undergraduate enrollment, a $19-million bequest to a junior college in Texas for honors scholarships, and a $10-million gift to Brandeis University to support scholarships for students from Japan.

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Among the latest largest gifts are a $65-million donation that will help Princeton University expand its undergraduate enrollment, a $19-million bequest to a junior college in Texas for honors scholarships, and a $10-million gift to Brandeis University to support scholarships for students from Japan.

RankInstitutionDonorDonor backgroundGift valuePurpose
1. Princeton U. Perelman Family Foundation (Ronald O. and Debra G. Perelman) Ronald Perelman is chairman and chief executive of MacAndrews & Forbes Holdings, in New York, and chairman of the cosmetics company Revlon. Debra Perelman, his daughter and a 1996 Princeton alumna, is chief executive of Revlon. $65 million establishment of Perelman College, the university’s seventh residential college, which will help advance the institution’s goal of expanding undergraduate enrollment by 10 percent
2. Virginia Tech Horace G. Fralin Charitable Trust (Heywood and Cynthia Fralin) Heywood Fralin, a Roanoke lawyer and chairman of Medical Facilities of America and Retirement Unlimited, is a former member of Virginia Tech’s Board of Visitors and chair of the State Council of Higher Education for Virginia. The trust is named for his older brother, a Roanoke real-estate developer who died in 1993. $50 million support for biomedical research at the newly named Fralin Biomedical Research Institute, at the health-sciences campus in Roanoke
3. U. of Michigan Law School Chris and Lisa Jeffries Chris Jeffries, a 1974 graduate of Michigan Law, is cofounder of the real-estate development company Millennium Partners, and was a principal in the leveraged buyout of Key International, a metal-recycling and automotive-equipment manufacturing business. $33 million student support, including scholarships and other forms of financial aid and debt management
4. San Francisco State U. George and Judy Marcus George Marcus cofounded Marcus & Millichap, a real-estate investment-services company in California, and is a trustee emeritus of California State University’s Board of Trustees. He graduated from the university in 1965, and Judy Marcus graduated in 1962. $26.8 million $25 million to support the university’s liberal-arts programs, including the creative-writing department and School of Cinema; $1.8 million to create an athletics scholarship fund
5. U. of Arizona, College of Optical Sciences James C. Wyant professor emeritus of optical sciences, founding dean of the university’s College of Optical Sciences, and chairman of 4D Technology Corporation, an optics metrology company in Tucson $20 million (pledge) endowment for 10 research professorships in the college
5. U. of Texas at Austin, Red McCombs School of Business Phil and Mary Beth Canfield Phil Canfield, a 1989 university alumnus, is a managing director at GTCR, a private-equity firm in Chicago. $20 million support for full-tuition scholarships, student recruitment, and broadening of program offerings and student resources in the business school’s honors program
7. Tyler Junior College (Tex.) James F. and Virginia Gatewood Jim Gatewood, a petroleum landman and investor, died in 2001. Virginia Gatewood died in 2017. $19 million (bequest) endowment to sustain an honors scholarship program that the donors first endowed in 2001
8. Brandeis U. Tom Watanabe chairman emeritus and former chief executive at Nikken Global, a home-wellness-products company; a 1973 graduate of the university; and president of the Toshizo Watanabe Foundation, in California $10 million creation of scholarships for undergraduate and graduate students from Japan
8. U. of North Carolina at Wilmington David S. and Helen Congdon David Congdon, a 1978 university alumnus, is executive chairman and former president and chief executive of Old Dominion Freight Line, which was founded by his grandparents $10 million (pledge) establishment of the David S. Congdon School of Supply Chain, Business Analytics and Information Systems within the Cameron School of Business, with anticipated support for scholarships, professorships, and research; the university’s Computer Information Systems Building will be renamed David S. Congdon Hall
10. Austin College (Tex.) William Richardson a Texas business consultant and 1964 college alumnus who died in 2017 at age 74 $9 million (bequest) endowment for four faculty chairs each named, at the donor’s request, the Bill Richardson Chair in Skeptical Thought
11. Elizabethtown College (Pa.) anonymous alumni couple $8.5 million (pledge) contribution to the college’s capital campaign to help the institution improve facilities and increase the endowment
12. Georgia Southern U. Gregory M. Parker founder and president of Parker’s Corporation, which manages convenience stores in Georgia and South Carolina $5 million (pledge) scholarships, faculty research support, and other support for the business school, which will be renamed the Gregory M. Parker College of Business
13. Illinois Wesleyan U. C.B. Frevert Family Trust (Cyril Frevert) Cyril Frevert owned more than 930 acres of farmland in McLean County, Ill., which sold at auction for $11.6 million after he died, in 2017. He was a 1961 graduate of the university and was a teacher and church organist. $3.5 million (bequest) support for student scholarships and equipment in the School of Music
14. Austin College (Tex.) Jim and Sally Nation Jim Nation is the chairman of First Co., a Dallas manufacturer of heating and air-conditioning systems. Sally Nation graduated from the college in 1964 and serves on its Board of Trustees. $2 million renovation of the Ida Green Communication Center’s lobby and main theater, and an upgrade of the theater’s technology systems
14. Michigan State U. Ronald and Jane Wall Lacher Ronald Lacher retired as a chemical engineer for Dow Chemical Company. Jane Wall Lacher, a Michigan State alumna, is a retired clinical veterinarian at Dow’s Toxicology and Environmental Research and Consulting laboratory. $2 million (pledge) support for an endowed professorship in nursing research and scholarships for veterinary students
14. Wabash College (Ind.) Stephen S. and Joanie Bowen Steve Bowen, who graduated from the college in 1986 and is a member of its Board of Trustees, retired after 42 years of practicing law. He teaches theological ethics at the college. $2 million unrestricted use

Note: Gifts and biographical information were compiled from news articles, news releases, and The Chronicle of Philanthropy’s database of charitable gifts. The database compiles gifts of $1 million or more from 2005 to the present.The Chronicle of Higher Education maintains a separate list of major gifts of $50 million or more to colleges and universities, dating back to 1967. The value of gifts is based on information from institutions or donors at the time the gifts were promised or received. In cases of stock, property, art, and other noncash donations, actual value may have increased or decreased since the gifts were pledged or received. Grants are excluded. Gifts of the same amount are listed alphabetically by institution. Information on gifts can be sent to gifts@philanthropy.com. Questions or comments on the Chronicle List should be sent to Ruth Hammond.

A version of this article appeared in the December 21, 2018, issue.
We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
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