The University of Pennsylvania has received a record $225 million gift for its School of Medicine from Philadelphia philanthropist Raymond Perelman and his wife, Ruth.
University president Amy Gutmann and board of trustees chair David Cohen sent an e-mail to Penn alumni describing the gift as the largest ever given to the university and the largest ever given in U.S. history to name a medical school.
They say it will establish a permanent endowment and help Penn provide significantly more financial aid to medical students as well as helping research and recruitment.
Raymond Perelman told The Philadelphia Inquirer yesterday that the gift has been in the works for about a year. He said the endowment will help “brilliant” students who have avoided medical school because of the cost.