Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

$250 million gift to Ky. college is withdrawn

WINCHESTER, Ky. — A small Kentucky liberal arts college lost out on one of the largest gifts in US higher education history when the $250 million donation was withdrawn, school officials said Monday.

Centre College in Danville, Ky. — known for hosting vice presidential debates in 2000 and 2012 — said the all-stock gift from the A. Eugene Brockman Charitable Trust was linked to a ‘‘significant capital market event’’ that didn’t pan out. As a result, the gift was withdrawn and a proposed scholarship program at Centre is on hold.

Continue reading below

‘‘We’re not happy, in any shape or form, with this outcome,’’ Centre College president John Roush said by phone. ‘‘This would have helped us do better what we’re already doing.’’

College officials said they were notified by the trustee last week that the gift had been withdrawn. The call informing the school came the same day the business transaction was to close, Richard Trollinger, Centre’s vice president for college relations said.

The donation would have created a Centre College scholarship program next year. Annually, 40 students majoring in the natural and computational sciences and economics would have received the full-ride scholarships, with a total of 160 students getting the assistance once fully implemented, the school had said.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com