A staggering double blow : Westmont College reels after $75 million donation goes into default on the heels of the Tea Fire

An anonymous gift to Westmont College of $75 million, which was to be given in installments and used for construction projects in the university, has been defaulted upon, leaving the school with a hefty price tag to pay for ongoing projects. “It’s a significant disappointment, and it presents a significant challenge, but not an overwhelming challenge,” said Director of Public Affairs Nancy Phinney. “We feel confident that we will be able to fundraise enough money to complete construction.” The donation went into default in September 2009.  more

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