The University of Southern California recently got a $200 million gift, the largest in its history, to create an unrestricted endowment.
USC announced that international philanthropists Dana and David Dornsife had given the record-setting gift to create the USC Dana and David Dornsife College of Letters, Arts and Sciences. The new school will officially be established during a March 23 celebration, where many from the USC community will embrace the generous donation.
USC president C.L. Max Nikias said that his institution was humbled by such enormous financial support and that the contribution would have a major impact for years to come.
"This historic investment by Dana and David Dornsife in USC's humanities, social sciences and sciences - the largest naming gift in the history of higher education for a college of letters, arts and sciences - is both transformational and inspirational," said Nikias in a news release. "Even more remarkable is that this unqualified and concrete support comes during such a challenging time for many in higher education."
The Dornsifes have given other support to USC in recent years. In April, 2010, the couple donated $21 million to fund neuroscience research at the university.