Donor Gives $50-Million to U. of Michigan With Unusual Strings
June 26, 2007 | Read Time: 1 minute
The University of Michigan has received an anonymous pledge of $50-million for its new Cardiovascular Center, but the donor will closely monitor and assess the center’s performance to determine whether the organization deserves the full amount, reports The Chronicle of Higher Education.
The institution will receive $25-million over 10 years, but the donor retains the right to withhold the remaining $25-million if the center doesn’t reach certain goals designated by the university’s leaders and the donor.
The donor will look at performance on clinical measures, scores on patient-satisfaction surveys, the amount of research grants won, the number of research publications and patents, and other areas, reports the Chronicle.
