Friday, July 31, 2009

Sign of the Times: University Removes Donors Name From Business School After Donor Reneges on Naming Gift

Insurance Mogul Barry Kaye, who pledged $16 million dollars to Florida Atlantic University in exchange for naming the business school after him, has reneged on his pledge. Kaye pledged in 2007 to donate the money in several installments. But when the latest installment was delayed, school officials became concerned. According to the Palm Beach Post, Kaye made much of his money in the insurance business which has seen much better days. While it is possible that some portions of the Business School may retain the Kaye name, the name of the school itself will no longer be "Barry Kaye College of Business."

For the entire story, see "Barry Kaye defaults on $16 million pledge to Boca Raton's Florida Atlantic University" in the July 29, 2009, issue of the Palm Beach Post.

DAB

http://lawprofessors.typepad.com/nonprofit/2009/07/sign-of-the-times-university-removes-donors-name-from-business-school-after-donor-reneges-on-naming-gift.html

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