Gifts and Donations

Institutions announce new sources of funding.

The Lord Foundation of California, a nonprofit foundation that supports the University of Southern California in Los Angeles, has received approximately US$260 million as a beneficiary of the recent sale of the North Carolina-based LORD Corporation. The money will be used to fund research and teaching at USC. Since 1980, the Lord Foundation of California has funded a variety of teaching and research initiatives at USC, including both the social enterprise lab and business competition program at the USC Marshall School of Business.

Babson College of Wellesley, Massachusetts, is receiving a US$50 million investment from the Arthur M. Blank Foundation to establish the Arthur M. Blank School for Entrepreneurial Leadership, a major part of the college’s strategic plan for the future. The collaboration between Babson College and the foundation will provide scholarships for low-income students who show promise as entrepreneurs; create the Blank Chair in Values-based Entrepreneurial Leadership; enable experiential learning opportunities; help develop an Entrepreneurial Village that provides a dedicated space for the Babson community to collaborate and experiment; and provide funding for applied leadership. Blank is co-founder of the Home Depot and a Babson alum.