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MIT has received a donation that is notable for its size and the lack of strings attached to it. An anonymous alumnus gave the university $140 million<\/a> designated as an \u201cunrestricted\u201d gift, which gives MIT a lot of leeway in deciding how it is spent.<\/p>\n While the donors of restricted gifts usually have specific ideas for the money (like funding a department or study), MIT can use the $140 million donation on almost anything related to its educational and research mission, from its campus to early-stage research considered too risky for funding from other sources.<\/p>\n The university gave some examples of the projects unrestricted funds have already supported, including \u201cthe work of faculty breaking new ground in such areas as Alzheimer\u2019s disease, where research into a unique visual stimulation technique could herald a breakthrough in the understanding and treatment of the condition, and in physics, where MIT faculty have played a primary role in detecting the largest collection of antimatter particles recorded in space \u2014 helping to advance our fundamental knowledge about the universe.\u201d<\/p>\n Though they wish to remain unnamed, the donor said in MIT\u2019s statement that they were a past recipient of MIT\u2019s financial aid program. \u201cI am also inspired by MIT\u2019s vision in tackling global challenges, and I trust its leadership to take bold steps to make the world a better place. I am blessed to be able to give back to the Institute so other students can experience what I did, and so that the Institute can continue to excel in groundbreaking achievements.\u201d<\/p>\n One of MIT\u2019s most ambitious initiatives is the $5 billion Campaign For A Better World<\/a>, which has already raised $3.4 billion from 87,000 donors to support research into environmental and humanitarian issues.<\/p>\n Featured Image: Chun-Teh Chen<\/a>\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/06\/gettyimages-553928153.jpg?w=680\")
MIT has received a donation that is notable for its size and the lack of strings attached to it. An anonymous alumnus gave the university $140 million designated as an “unrestricted” gift, which gives MIT a lot of leeway in deciding how it is spent. Read More<\/a><\/p>\n\n<\/img><\/a>
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