Notre Dame Receives $100M — Its Biggest Unrestricted Donation Ever

SOUTH BEND, IN— Universities receive much of their funding from alumni donations — but the University of Notre Dame has never seen something like this.

One alum has given the school a gift of $100 million,the largest unrestricted philanthropic donation the school has ever received.

It's a "bold, innovative gift," said Notre Dame's president, the Rev. John I. Jenkins, in a statement Tuesday. He said he's grateful for the donation from aviation entrepreneur Kenn Ricci and his wife, Pamela.

The gift's unrestricted status means school leaders can use the money however they choose.

The South Bend Tribune reports that Ricci is a 1978 Notre Dame graduate who serves on the school's board of trustees.

Ricci, of Cleveland, Ohio, is the principal of Directional Aviation Capital, which operates private aviation companies.

The Riccis will begin fulfilling their commitment through lifetime gifts, followed eventually by proceeds from the sale of assets held in a limited partnership.

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