CHAPEL HILL, N.C. – The University of North Carolina at Chapel Hill received an anonymous $5 million gift that will be used to grow the freshman honors program by almost a third.
The gift, which will be used to endow five new professorships, will by matched with $2.5 million in funding from the N.C. Distinguished Professors Endowment Trust, bringing the total infusion to $7.5 million.
The new professorships will allow the school’s College of Arts and Sciences to offer more courses and are being created to honor alumni Peter T. Grauer, chairman and president of Bloomberg in New York, and William B. Harrison, Jr., retired chair of JPMorganChase and Co.
Thanks to the recent gift, 260 members of future freshman classes will be invited to join the honor’s program, up from 200 of the 3,800 members of the class of 2011.