Gifts Surpass $2,700,000 in Quarter Year
$2,749,007.51 was given to the University last year within the three month period of October, November, and December, the News Office announced yesterday.
The money was divided between the endowment fund, which received $1,599,514.44 and various current educational and research programs which were allotted $1,149,493.07.
Almost two-thirds of the total, $2,093,138.70, was in restricted gifts, designated by their contributors for some specific purpose. Only $1,266.68, less than one percent of all the unrestricted funds, will be available for immediate use by the University.
With $431,579.23 of gifts to its credit, the Medical School receives the largest share of the total. The Faculty of Arts and Sciences is second with $427,562.40 and the Business School third, with $206,737.21.
The largest gift in the three monthing was from the estate of Augustus Coe Gurnee '78, who died in Baden Baden, Germany, in 1926. $477,436.18 was given for unrestricted use by the University. This gift was in addition to a previous one given by Gurnee.
Another large gift the University has just announced is an unrestricted bequest of $104.750 from the estate of Bradley W. Palmer '88, a Boston banker who received an A.M. degree from Harvard in 1889. Palmer died in 1946.