UCLA receives $200 million gift

[ThisCouldBeHeavn]

<p>[UCLA</a> receives $200 million gift to create unique philanthropic fund / UCLA Newsroom](<a href=“http://newsroom.ucla.edu/portal/ucla/ucla-and-private-foundation-partner-192057.aspx]UCLA”>Newsroom | UCLA)</p>

<p>

UCLA Chancellor Gene Block and Kirk Kerkorian, founder of The Lincy Foundation, today announced the formation of the Dream Fund at UCLA, a community-based fund devoted to the support of medical research and academic programs at UCLA, as well as the support of a wide range of charitable projects throughout the United States. The Dream Fund will be part of and administered by the UCLA Foundation. </p>

<p>The Lincy Foundation will be transferring all of its assets (valued at approximately $200 million) and its charitable programs in progress to the Dream Fund as an expression of hope that other private foundations, wealthy individuals and businesses will join with UCLA and Lincy in this endeavor. Upon receipt of requisite government approval, The Lincy Foundation will complete this gift and terminate its operations.

</p>

<p>An interesting note at the end…</p>

<p>

An emphasis will be placed on organizations and programs that help address societal problems.

</p>

<p>I guess that means the Math Department won’t get much, lol.</p>

<p>I don’t know how much this donation, as well as the previous $100M donation, will offset the state budget cuts given that the money is likely targeted elsewhere, but it’s still a good sign for the University.</p>

[beyphy]

<p>ah that’s great news. UCLA needs all of the help it can get right now even if it doesn’t help the university directly. hopefully we get many more of these types of donations this year.</p>

<p>also, just wondering why you capitalized University? afaik, ‘the university’ is UVA :p</p>

[hermaphrodite]

<p>All these donations don’t change the fact that tuition is still getting hiked up.</p>