A $250-million donation, listed as one of the biggest gifts ever given to a US college, has collapsed. Given the deal’s complexity, the president of Centre College says they had trouble satisfying conditions set by the Eugene Brockman Charitable Trust. According to the Chronicle for Higher Education, the all-stock gift to the Danville, Kentucky school, was among the top 20 contributions ever made to a US college. In withdrawing the gift, President John Roush says the Trust offered no explanation.
“We were working hard and deliberately up to the very end to try find a way to make this all occur. And really for some reasons we don’t fully understand, the transaction did not close and the gift has been withdrawn,” said Roush.
Centre College had hoped to spend the $250-million on scholarships. The school’s best known for hosting two vice-presidential debates.