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October 23, 2015

$50-Million Gift for William and Mary, U. of Kentucky Gets $23 Million

The College of William & Mary announced an anonymous $50-million donation Thursday as the Virginia university launched a $1-billion fundraising campaign, writes The Washington Post. The donors, a married couple, pledged the money largely for scholarships to attract top law and business students to 322-year-old Williamsburg institution.

William & Mary officials said the 8,400-student institution is the smallest U.S. public university to embark on a 10-figure capital campaign. The college netted $532 million during the private phase of the drive, exceeding its entire previous campaign, which took in $517 million between 2000 and 2007. William & Mary's endowment stands at $800 million.

The University of Kentucky has received a $23-million gift from alumnus Tom Lewis and his wife, Jan, to expand its honors program into a full college, the Lexington Herald-Leader reports. Pending approval by the University Senate, the Lewis Honors College will open in fall 2016 or 2017 as a residential college where students will take enrichment courses supplementing their degree tracks.

Mr. Lewis, a seventh-generation Kentuckian, earned an engineering degree at the university in 1971 before moving to Arizona and launching T.W. Lewis Co., a home-construction firm.