Massive Donation to Centre College Withdrawn

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

The gift from the A. Eugene Brockman Charitable Trust wouldhave 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 inDanville, Kentucky.  But the donation waswithdrawn after Reynolds and Reynolds Co, a privately-held automobile softwarefirm, decided not to go through with a major corporate refinancing deal, whichwould have resulted in payouts to the Brockman Trust.

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

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