Dartmouth College is receiving a $100 million anonymous donation, the largest single gift in school history.
"We are thrilled," says Dartmouth spokesman Justin Anderson. "And we're especially thrilled that it will be devoted entirely to strengthening Dartmouth's academic mission."
The gift will be added to school’s already sizeable $3.7 billion endowment. The interest earned will help fund an array of new initiatives, including the addition of 30 to 40 cross-discipline professorships.
The school will also create a new scholars program for post-PhD academics, and expand its engineering department.
The donation comes during Philip Hanlon’s first year as college president.
“This historic gift is an exceptional vote of confidence as we embark on an exciting journey to ensure Dartmouth remains the preeminent undergraduate institution in the nation; a magnet for human talent; and a college that cultivates a culture of ideas, discovery, and solutions to problems that will make the world a better place,” writes Hanlon in a statement.
Half of the money is put forward as a challenge grant, meaning the school could double its revenue with a successful fundraising campaign.