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University of Pennsylvania Receives $225M Gift

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The University of Pennsylvania received an unrestricted gift of $225 million from philanthropist Raymond G. Perelman and his wife, Ruth. The gift, which marks the largest single gift in school history, also marks the largest single gift to name a school of medicine in the United States. The funds will create a permanent endowment for the school, which will be renamed the Raymond and Ruth Perelman School of Medicine at the University of Pennsylvania.

With this gift, the Perelmans have contributed more than $250 million to Penn's Making History capital campaign. As a result of their generosity, the School of Medicine will increase its financial aid budget by a minimum of 20 percent for the 2012 entering class. Funds will also be allocated to support recruitment and research.

The Perelmans previously pledged $25 million in to create the Ruth and Raymond Perelman Center for Advanced Medicine, which opened in 2008. They have also endowed a professorship in internal medicine at the university. Mr. Perelman, who serves as a Penn Medicine trustee, is president and chairman of the board of RGP Holdings Inc.

Albany Medical College Receives $1.2M Bequest to Fund Two Endowed Chairs

Albany Medical College received a $1.2 million bequest from the late Kenneth T. and Thelma Lally to support creation of two new endowed chairs. Matthew Murnane, MD, associate professor of neurology and clinical neurology clerkship director, will hold the Kenneth T. Lally Endowed Chair in Neurology. Tara A. Lindsley, PhD, an associate professor at the college's Center for Neuropharmacology and Neuroscience, has been named as the Thelma P. Lally Endowed Chair in Neuroscience Education.

Mr. and Mrs. Lally were well-known for their support of local educational and health care institutions. Mr. Lally was born in 1914 and passed away in 2008. His wife, Thelma, was born in 1912 and died in 2005.

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