An anonymous donor has given $1.5 million to a North Carolina university struggling with significant budget cuts.
The Associated Press reported that the gift to the University of North Carolina at Asheville is one of the largest in school history. Spokeswoman Merianne Epstein said that at the donor's request, $1 million of the gift will go toward scholarships and $500,000 will be used for operating support.
The university will use $250,000 to purchase equipment needed for the new Zeis Science & Multimedia Building to be dedicated this fall. The remaining $250,000 will be set aside to help a new endowed faculty chair.
Epstein said those funds will be matched by private funds and by the Distinguished Professors Endowment Trust Fund established by the General Assembly in 1985.
Copyright 2013 by The Associated Press. All Rights Reserved.