Baylor gets $200 million for research
09:16 AM CST on Friday, March 5, 2010
WACO – Baylor University officials say they've received the largest donation in school history: an anonymous gift worth $200 million.
The estate provision, announced Thursday, will be used for medical research at the world's largest Baptist university. The school says the money comes from a Baylor graduate whose family has a history of providing financial support.
Baylor officials say that it is the second-largest gift to a Texas college or university and ranks among the top 20 private gifts to higher education institutions in the country.
Dennis Prescott, vice president for university development, said the donor asked that the gift be used to promote work on issues related to aging. That will include research through programs in psychology, chemistry, biochemistry, neuroscience and related areas, as well as the School of Social Work.
Prescott said the school won't receive the $200 million until the donor's death, so the money won't count toward the school's endowment until then.
Baylor 2012, the school's strategic plan, calls for the endowment to grow to $2 billion by 2012. As of Jan. 21, it was $960 million, Prescott said.
From wire reports
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