Belmont University has received its biggest-ever donation.
Belmont President Bob Fisher announced Wednesday morning that the Ayers Foundation is donating $15 million to the school.
He says this is the philanthropic organization’s largest single gift: "They're taking philanthropy to a whole new level, and I'm happy they're taking Belmont with them."
The money will go towards creating an endowed scholarship fund for students who need help with tuition. The school also renamed the Wedgewood Academic Center, its largest building on campus, in honor of Janet Ayers.
Ayers is president of the foundation that she established with husband and FirstBank chairman Jim Ayers. They’re known for making large gifts. In 2014, they donated one million dollars to the University of Memphis Lambuth Campus. They also helped create the Vanderbilt Institute for Precancer Detection and Diagnosis.
The $15 million is part of Belmont’s largest fundraising campaign in history. It aims to raise $300 million by 2020.