Kentucky $250M: Tiny Kentucky college gets record-breaking $250M donation

Kentucky $250M: Centre College, located in the center of Kentucky, received $250 million from an alum. Centre claims this is the biggest-ever donation to a liberal arts college.

By Tim Ghianni,?Reuters / July 30, 2013

Centre College President John A. Roush announces that the tiny liberal arts school in rural Kentucky has received a $250 million gift on Tuesday, July 30, in Danville, Ky. The all-stock donation from the A. Eugene Brockman Charitable Trust will be used to set up student scholarships.

Bruce Schreiner/AP

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Centre College, a tiny liberal arts school in Kentucky that has hosted vice presidential debates, announced on Tuesday a $250 million donation from a computer company founder's family foundation, which the college said was the largest ever to a liberal arts institution.

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The gift from the A. Eugene Brockman Charitable Trust, named after the founder of Universal Computer Systems Inc, will fund 40 new Brockman Scholarships annually beginning next year, said the school, which expects an enrollment of 1,375 students this autumn.

"You could have knocked me over with a feather," said Richard Trollinger, vice president for college relations at Centre College, of the moment he was told the size of the gift.

It is the largest gift to a liberal arts college in the history of U.S. higher education, and among the largest gifts ever given to any college or university of any type, he said.

The Brockman Trust said in a statement that it chose Centre College in part because the current chairman of the company, Bob Brockman, went to college there and the experience made a "tremendous impact" on him.

The gift is in stock in Universal Computer Systems Holding Inc., a provider of inventory management systems for the auto industry, which merged with Reynolds and Reynolds Co. in 2006.

Centre College in Danville, Kentucky, was founded by Presbyterians in 1819. Since 1967, the church has not financially supported the school, but there remains a close bond, according to Trollinger.

The college hosted the vice presidential debates in 2000 and 2012.

(Editing by Greg McCune and Eric Beech)

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/1K_yTiPlOGQ/Kentucky-250M-Tiny-Kentucky-college-gets-record-breaking-250M-donation

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