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arts college lost out on one of the largest gifts in US higher education history when the $250 million donation was withdrawn, school officials said Monday.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 As a result, the gift was withdrawn and a proposed scholarship program at Centre is on hold.
‘‘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College officials said they were notified by the trustee last week that the gift had been withdrawn.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.