Notre Dame alum donates $100M to school in unrestricted gift

Markets Associated Press

A University of Notre Dame graduate is donating $100 million to the university, in the largest unrestricted philanthropic gift the school has ever received.

Continue Reading Below

Notre Dame's president, the Rev. John I. Jenkins, said in a statement Tuesday that he's grateful for the "bold, innovative gift" 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.

Continue Reading Below

___

Information from: South Bend Tribune, http://www.southbendtribune.com