The Powell Fund
In 2013, University of the Pacific received an estimated $125 million from the estate of the late Robert and Jeannette Powell, the largest gift in the university's history and among the biggest single bequests to any institution of higher education in the United States.
With their gift, the Sacramento-area couple, who had no children and did not graduate from college themselves, endowed scholarships to help generations of students attend Pacific.
The gift created endowments for academic programs at Pacific, including endowed professorships and chairs; supports the Powell Scholars Program, a prestigious honors program at the university established by the Powells; and provides ongoing financial support for Pacific's permanent art collection, including donated from the Powells' estate valued at more than $400,000.
The Powell bequest is invested in endowments as follows:
- $35 million will support the Powell Scholars program.
- $25 million will create a matching fund to inspire others to create endowments for academic programs.
- $3 million will be earmarked to maintain, store and display Pacific's permanent art collection, now and in the future.
- The remainder - more than $60 million -- will fund a matching campaign for endowed student scholarships.