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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, September 10, 2013

Massive Donation to Centre College Withdrawn

Centre

A $250 million donation to Centre College was recently withdrawn following the collapse of a financial deal.

The gift from the A. Eugene Brockman Charitable Trust would have been one of the largest donations ever made to a college in the United States and would have funded 40 scholarships annually at the liberal arts institution in Danville, Kentucky.  But the donation was withdrawn after Reynolds and Reynolds Co, a privately-held automobile software firm, decided not to go through with a major corporate refinancing deal, which would have resulted in payouts to the Brockman Trust.

See Tim Ghianni, Kentucky College Loses $250 Million Gift from Charitable Trust, Chicago Tribune, Sept. 9, 2013.

Special thanks to Sean J. Fahey (Hall Render Killian Heath & Lyman, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2013/09/massive-donation-to-centre-college-withdrawn.html

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