Word: gifts
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...Broad Institute, a unique joint effort between Harvard and MIT to bring genome-based information to medicine, received a $400 million gift from founding benefactors Eli and Edythe L. Broad. The gift marked the fourth anniversary of the institute...
...gift brings the total investment by the Broads to $600 million, dwarfing any donation given to either university. The new gift will enable the institute, founded soon after the completion of the Human Genome Project, to create its own endowment and establish itself as a permanent, standalone biomedical research organization...
...Broads, who made their fortune in Southern California real estate and founded two Fortune 500 companies, gave their first $100 million to the institute in 2003, intending that the gift would be spent over 10 years. The gave another $100 million gift...
...This is about an expansion in time,” Lander said. “The goal is to put this endowment away for a period of years so when the gift [from the Broads] ends, there will be a permanent stream to continue that into the future...
...addition to the gifts from the Broads, the institute has received one other large gift: a $100 million donation in March 2007 from the Stanley Medical Research Institute to create a new center to study psychiatric disease, a move that backers said would jump-start the search for the genetic basis of bipolar disorder and schizophrenia. The Stanley Institute gift was the largest ever given for psychiatric disease research...