2 Amherst College Gifts Largest Ever To The School

AMHERST, Mass. (AP) — Amherst College received separate gifts of $100 million and $25 million, the two largest in its history, the liberal arts school announced.

The gifts were pledged by two alumni who chose to remain anonymous, with the $100 million donation believed to be the largest unrestricted cash gift ever made to a liberal arts college, the school said in a statement for release on Wednesday.

Both gifts will be paid over five years and will provide operating support, the school said.

"In a difficult economic moment, when institutions and individuals have fewer resources, these unrestricted gifts to the endowment represent extraordinary votes of support for Amherst College, and the mission of educational quality and access at liberal arts colleges in general," said Anthony W. Marx, the college's president.

The money will be allocated as needed, Marx said, including enhanced financial aid, hiring more faculty and building new facilities or renovating existing ones.

The college launched a $425 million fundraising campaign in October 2008.