McPherson College in Kansas could be the recipient of a $500 million gift, depending on donor matches. An anonymous donor has reportedly pledged to contribute $2 for every dollar donated by others, with a cap of $500 million.
The gift to the McPherson College endowment—announced Friday—is believed to be the largest gift to a small liberal arts college in history, according to the college. To be eligible for the full $500 million donation, McPherson is seeking to raise $250 million, of which $130 million has already been committed. Now the college has until June 30, 2023, to raise the rest of the money. If the $250 million campaign is successful, McPherson can count on the full $500 million.
The potential $500 million contribution can be paid out over time or upon the donor’s death.