Centre College announced on Monday that a $250-million gift it had planned to use for a scholars program had been withdrawn, according to the Associated Press.
The gift, from the A. Eugene Brockman Charitable Trust, was announced in July and took the form of stock. It would have been the largest donation ever made to a liberal-arts institution. In a news release cited by the AP, the college said the gift had been linked to a “significant capital-market event.” The statement said the college had been under considerable time pressure to structure the gift and the scholars program. It said the two sides had agreed they could not complete the deal in the time available.
John A. Roush, the college’s president, said in the statement that he was “deeply disappointed with this unanticipated development.”
For more, see this Chronicle article.Return to Top