News and analysis
April 25, 2016

Gifts Roundup: Museum of Modern Art Gets $100 Million; $47 Million for Catholic University

The Grotto, Wikimedia Commons

David Geffen's $100 million to the Museum of Modern Art will support the museum's renovation and expansion project.

A roundup of notable gifts compiled by The Chronicle:

Museum of Modern Art

Music and movie mogul David Geffen gave $100 million to support the Manhattan museum’s renovation and expansion project.

He has been a regular supporter of the museum over the years, donating artworks and lending pieces from his collection to exhibits like a 1996 Jasper Johns retrospective.

Museum officials plan to name a fourth-floor exhibition space the David Geffen Galleries and three floors of galleries in a new building will be called the David Geffen Wing.

Catholic University of America

Six donors gave a total of $47 million. The largest came from Tim and Steph Busch, who gave $15 million through their Busch Family Foundation to renovate a building that will eventually house the business and economics school. Mr. Busch founded a law firm and the Pacific Hospitality Group, a hotel-management company. He serves on the university’s Board of Trustees.

Other donations include $10 million from the owners of the Wine Group, Arthur and Carlyse Ciocca, through their family foundation; $10 million from Charles Koch, chief executive of Koch Industries, through his foundation; $5 million from Joe Della Ratta, a real-estate developer; $5 million from an anonymous donor; and $2 million from Larry Blanford, retired head of Green Mountain Coffee Roasters, and his wife, Lynn.

These gifts will support building renovations, academic programs in the business and economics school, and Catholic’s new Institute for Human Ecology.

Villanova University

Financier William Finneran gave $22.6 million to renovate an athletics center and support the men’s basketball program. The Villanova Wildcats men’s basketball team won this year’s NCAA tournament.

Mr. Finneran earned an economics degree from the university in 1963. He co-founded EXOP Capital, a hedge-fund firm based in New York City, and previously served as a managing director at Wachovia Securities.

University of Vermont

Dr. Robert Larner and his wife, Helen, donated commercial property valued at $18.7 million and $1 million in cash to back programs in the College of Medicine.

Mr. Larner earned a bachelor’s degree from the university in 1939 and a medial degree there in 1942. He started a medical practice in Los Angeles following World War II.

The Larners are longtime donor to the university. They have helped the university’s medical students through the Larner Loan Fund and many other donations over the years.

Boston University School of Medicine

Technology investor Richard Shipley gave the School of Medicine $10.5 million to create a prostate cancer-research center and a website with information about different treatment options.

The donor founded Shiprock Capital, a private-equity firm that invests in technology companies. He earned bachelor’s and master’s degrees from the university in 1968 and 1972, respectively.

He was diagnosed with prostate cancer 18 months ago and instead of undergoing a traditional prostatectomy, he sought out a new, less invasive treatment called focal laser ablation. He now wants to see such treatment become the norm for treating prostate cancer.

Lebanon Valley College

Edward and Jeanne Arnold donated $10 million for a new building to house the college’s existing doctor of physical therapy, master of athletic training, and bachelor of exercise science programs and other health-care related majors. The building will be named for the Arnolds and is scheduled to open in 2018.

Mr. Arnold led New Penn Motor Express, a transportation company founded by his father, from 1974 to 2001 and was chairman of Arnold Logistics, an offshoot of New Penn, until he retired in 2006.

He served on the college’s Board of Trustees from 1975 to 2011, and Ms. Arnold has been a trustee since 2013.

She spent her career in health care, serving as director of nursing and chief operating officer at Ephrata Community Hospital and chief operating officer at Community General Hospital. She retired from her medical career as senior vice president for patient-care services at Good Samaritan Hospital in Lebanon, Pa.

University of Kentucky College of Engineering

Joseph and Joan Halcomb gave $7 million to endow a professorship and two fellowships in the Department of Biomedical Engineering. The department will be renamed for the couple.

Dr. Halcomb earned a mechanical engineering degree from the university in 1974 and a medical degree there in 1978.

He was vice president for product development for Zimmer’s Orthopedic Implant Division, leading the company’s development of joint replacement implants, and later served as president at Zimmer’s Hall Surgical Division, an international supplier of powered surgical instruments. He later joined Amgen, a biotechnology firm where he helped to develop new products.

To learn about other big donations, see our database of gifts of $1 million or more, which is updated throughout the week.