Bucks for Brains $15M goal reached
HUNTINGTON -- Marshall University officials announced Wednesday the institution has reached the $15 million fundraising goal through the West Virginia Research Trust Funds' Bucks for Brains program.
Started in 2008 through legislation, both Marshall and West Virginia University were challenged to raise funds for research, which would be matched by the state up to $15 million for Marshall and $35 million for WVU.
Along with several year-end gifts, Allied Realty Company made a $150,000 donation to support the Marshall Institute for Interdisciplinary Research (MIIR) and the College of Fine Arts. The $100,000 portion of the gift designated for research at MIIR, in addition to other year-end gifts and pledges, is expected to be matched by the state's trust fund and will allow Marshall to draw down the last of the money allocated to it in the fund.
The match program results in $30 million toward research efforts at Marshall and has led to the creation of 16 new research endowments and will increase the university's overall endowment by more than 15 percent.
"It is entirely fitting that Allied Realty Company made the donation that brings us to our goal," said Marshall President Stephen Kopp. "Allied was the first private donor to step forward when the trust fund program was established, and they have been supporting research at Marshall with generous donations ever since."
Allied Realty Company President Rebecca Polan said MIIR's role of conducting commercially viable bioscience research at the university and facilitating partnerships with outside companies is vital to the future of Huntington and the region.
Last week, the BrickStreet Insurance Foundation gave a $2.5 million gift to establish a research endowment.
WVU reached its goal last January, and officials at both institutions are working with lawmakers to extend the program with another pot of match money.