Maryville College soon will receive the largest gift in the schools 198 year history. President Tom Bogart announced the $15 million donation on campus Monday afternoon.
The money is coming from the estate of Dan and Elaine McGill. Dan is a Maryville College alumnus who graduated in 1940.
He later earned a master's degree from Vanderbilt and a doctorate from the University of Pennsylvania, where he chaired the Insurance Department for the Wharton School of Finance.
"There is just something intangible in someone who has been at the height of their profession, who has been a professor at an Ivy League institution," Bogart said, "looking and saying what we're doing at Maryville College matters, it's important, and it's a good investment in the future."
According to McGill's instructions, $1 million will be directed to the Anderson Hall, and in their honor, the first floor will be named 'The McGill Family Floor.' The remaining $14 million will go to scholarship endowment.
"What this makes possible is for us to help those students realize their dreams and take advantage of the one-on-one world class instruction that they get from Maryville College," Bogart said.
The first Dan McGill Memorial Scholarship will be awarded during the college's bicentennial year in 2019.