UNC-Chapel Hill Receives Largest Gift Ever Made to Pharmacy School

Pharmaceutical entrepreneur Fred Eshelman commits $100 million to the pharmacy school for the new Eshelman Institute for Innovation.

Press Release

The University of North Carolina at Chapel Hill celebrated the best fundraising year in its history and committed to continuing the strong forward momentum during a special ceremony with senior leadership, faculty and staff at the UNC Kenan-Flagler Rizzo Conference Center.

Chancellor Carol L. Folt and David Routh, vice chancellor for development, highlighted the record achievement, discussed how the gifts touch people and programs across the campus and state, and detailed the wide range of individual donors, corporations, and foundations that made the record year possible.

In fiscal year (FY) 2015, Carolina received nearly $447 million in commitments—a 44% jump from the previous year and a new record for the university. This achievement includes yet another record: the $100 million commitment from pharmaceutical entrepreneur Fred Eshelman to the pharmacy school for the new Eshelman Institute for Innovation. This represents the largest gift from an individual in the university’s history and the largest ever made to a pharmacy school in the United States. Even without the Eshelman gift, however, the university still would have had its best fundraising year ever. The previous record was $342.8 million in FY 2008.

“Today’s results are a very proud moment for the university,” Folt said. “Thanks to the generosity of our donors we are celebrating a record-breaking fundraising year. Their incredible investment will benefit our students and faculty for years to come.”