It’s safe to say October has been good to the University of Hawaii and the University of Maryland.
Hawaii’s business college received a $117 million donation in cash and real-estate assets on Tuesday from alumnus and namesake Jay H. Shidler. The Schidler College of Business received the donation after Schidler completed the final payment of a $111 million gift pledged in 2014.
The terms of the gift include that the university must hold on to the land leases for the full 99-year period. The university estimated that the holdings -- which include land leases for properties at other colleges, such as the University of Washington Biomedical Center and the Wake Forest University Charlotte Center -- would yield “a minimum of $7.2 billion during the life of the current leases,” the university said in an announcement.
A day later, and 5,000 miles away, the University of Maryland announced a $220 million gift from the A. James & Alice B. Clark Foundation. In addition to funding need-based scholarships, the money will also fund more than a dozen faculty chairs, postdoctoral fellowships and the building of new facilities.
The foundation’s namesake was a University of Maryland student from modest a background whose education was funded through scholarships, the university said.