Gustavus Adolphus College on Tuesday said it's received a $40 million gift, the school's largest-ever donation and one of the largest ever made to a Minnesota college.
The financial commitment comes from a successful alumni couple who wish to remain anonymous, the school said in a statement.
The St. Peter school said the money will go to scholarships and to renovate and expand the Nobel Hall of Science, a $70 million project that will double the size of the college's laboratory science building. The money will also boost annual operating funds and the college's $165 million endowment.
"This gift is transformational for Gustavus in both its magnitude and its targeted impact," Thomas Young, the school's vice president for advancement, said in the statement. "Scholarships and top-of-the-line buildings attract students, but the growth of the endowment means that Gustavus will continue to operate at a high level across the board as we move into the future."