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August 19, 2015

Anonymous Donor Gives $25 Million to Mo. Art College

The Kansas City Art Institute announced a $25 million contribution Tuesday that the private college will use to boost its endowment, expand student aid, and improve campus facilities, reports The Kansas City Star.

The anonymous donation includes a $6-million commitment for a two-for-one match of up to $3 million in additional fundraising by the school for financial aid. Ninety-five percent of the institute's 610 students receive grant or scholarship money, said Tony Jones, the college's interim president.

The 130-year-old school plans to steer $14 million into a general endowment and plow $5 million into capital improvements, including deferred maintenance on campus buildings and landscaping projects.