Rensselaer Polytechnic Institute in Troy, N.Y., has received $360 million from an anonymous donor, marking the largest gift ever to a university in the U.S., The New York Times reported March 13.
Unlike typical big gifts, the donation has no strings attached, the Times said.
School officials plan to use the funds to pursue plans by Rensselaer’s new president, Shirley Ann Jackson, to make the school a top engineering and technology institution.
The same donor had agreed to make a $130 million gift last year but decided instead to nearly triple it.
The previous record for a single gift was an estimated $350 million to the Massachusetts Institute of Technology from Patrick J. McGovern Jr. and his wife, Lore Harp McGovern, to be paid over 20 years for brain research.
For full story, go to The New York Times.