Another Donor Revokes a Mega-Gift. Is a Pattern Developing?

In a recent post reporting on Timothy and Thomas Pearson rescinding their $100 million donation to the University of Chicago, I wondered if the news foreshadowed a future in which a new breed of more hands-on mega-donors revokes gifts with greater frequency due to dissatisfaction with the recipient organization.

Coincidentally enough, the same day the Pearson post hit, the Sanford Burnham Prebys (SBP) Medical Discovery Institute in La Jolla, California announced that an anonymous donor canceled $75 million from a record $275 million gift to the institute in 2015.

Read More