Sat., November 7, 2009 9:29am (EST)

Anonymous Donor Commits $25 M to Ga. Tech

By Associated Press

Updated: 2 years ago

ATLANTA  —   Georgia Tech recevied an anonymous donation of $5 million. Tech officials say they also got a challenge grant that will match every dollar donated to the college endowment up to $20 million.

The grant money will go to endowed faculty chairs and professors, undergraduate student scholarships and graduate fellowships.

The college's dean, Steve Salbu, says the goal of the challenge grant is to allow the college to more than double its current endowment within five years.

Under the challenge grant, donors must make a qualifying gift or multi-year commitment to be fulfilled within five years.

The dean will decide where to spend the $5 million gift.