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EDUCATION INDUSTRY NEWS
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UC Irvine lands anonymous $10 million gift

The donation will fund research and a new building for the Paul Merage School of Business.

By Karly BarkerPublished: June 15, 2011 03:06 PM

UC Irvine received an anonymous $10 million donation that will go toward research and the construction of a new building for the Paul Merage School of Business.

The university used the majority of the gift – $9 million – to form a new endowment fund that will further scientific studies and to leverage matching support from government agencies or foundations that require prior campus donations. The other $1 million will support the planned Innovation Gateway Building.

"We are extraordinarily grateful for this support and for the donor's recognition of the research and academic excellence represented by UC Irvine," said Daniel Aldrich, interim vice chancellor for university advancement. "This gift toward groundbreaking research is a fine example of the kind of private support that a major university can apply toward scientific and technological advances for the benefit of society."

The new gift comes on the heels of a recent grant from Audrey Steele Burnand, which UCI used to buy the Desert Club in Borrego Springs. The facility now serves as a field research center (for more on that story, click here). And the university's Shaping the Future fundraising initiative also has raised more than $630 million; the campaign hopes to earn $1 billion to further the school's programs.

"We are thrilled that the philanthropic community is inspired by the strength of UC Irvine's faculty and research excellence,” said Chancellor Michael Drake. “These kinds of gifts enable the transformational scientific exploration that makes the world a better place.”

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