Rutger$ admirer
By Lisa Wolfson
September 15, 2011 | 4:00am
Rutgers University has received the biggest gift in its history, $27 million from an anonymous donor, to establish 18 endowed chairs in subjects ranging from business education to the sciences.
The donation will be structured as a challenge grant, the New Brunswick, NJ-based university said yesterday on its Web site. For every $1.5 million raised for a chair that meets the donor's criteria, a matching gift will be provided.
"Endowed chairs provide permanent sources of funding for faculty positions, enabling the university to attract and retain internationally acclaimed leaders in high-priority academic fields," said Carol Herring, president of the Rutgers University Foundation.
Including the anonymous gift, the university raised a record $137.4 million in private donations in the 2010-11 academic year, the foundation said. Rutgers has more than 58,000 students. Bloomberg
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