Yale Receives Top Ford Foundation Grant

“A record-setting grant of $3,600,000 to the Yale School of Medicine from the Ford Foundation was announced in March as part of the Foundation’s program to strengthen instruction in the nation’s private medical schools. The Ford Foundation is making awards totaling $90,000,000 to the nation’s 45 private medical schools. The money is to be held as invested endowment for at least 10 years. The income from endowment may be used for instructional purposes but not for construction or research needs. After the 10-year period, Yale and the other recipient medical schools are free to use the principal sum as well as endowment income. ...

“Dean [Vernon W.] Lippard, in commenting on the Ford Foundation award, said: ‘This is the largest gift ever received by the Yale School of Medicine. Its importance is not related to its size alone but rather to the fact that it is designated for unrestricted endowment. The income will be used in support of the basic operation of the school and improvement of its educational program. Yale will be forever grateful to the Ford Foundation.’ ”