UCLA Management School Receives $100 Million Donation

The Anderson School of Management at the University of California at Los Angeles has received a $100 million gift from the widow of the business school’s namesake, reports the Los Angeles Times.

Three-fifths of the contribution from Marion Anderson will be create an an endowment for student financial aid, faculty stipends, and research, with the remaining $40 million supporting construction of a new building for the school.

The management school was named for businessman John Anderson following a $15 million donation from the couple in 1987. Mr. Anderson, a UCLA alumnus and the founder of multi-industry holding company Topa Equities, died in 2011 at age 93. The Andersons have given a total of $142 million to the graduate school, which has become more reliant on donors since a 2013 decision by the University of California system to forgo state funding for MBA programs.