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August 21, 2015

$100-Million Pledge to Portland State University Goes Missing

A $100-million donation Portland State University was set to announce this week has failed to materialize, The Oregonian writes.

University officials said they hoped to resurrect all or part of the unrestricted gift. In background material provided to the media ahead of a scheduled Tuesday press conference, the anonymous donor was described as a former Portland State student and successful businessman. The school planned to use the money to boost its $57-million endowment to nearly $100 million and to expand scholarships, faculty, and research programs.

"Some individuals offer gifts to universities, institutions and charities, but they don't deliver a gift for personal or financial reasons that they wish to keep private," school spokesman Chris Broderick said in a written statement. "Ultimately, it's up to a donor to make a gift or not."