PND (2/15/2000) -- University of Pennsylvania Negotiates $10 Million Gift Via E-mail

Development officials at the University of Pennsylvania last month negotiated a $10 million gift from an alumnus almost entirely via the Internet, the Chronicle of Higher Education reports.

"To my knowledge, this is the largest e-gift [ever made to a higher education institution]," Jean-Marie Kneeley, vice dean for external affairs at Penn, told the Chronicle.

The gift was made by Christopher H. Browne, managing director of New York-based investment-management firm Tweedy, Browne Company. In an initial meeting with school officials, Browne suggested that his gift be negotiated online. Four days later, after several e-mail exchanges, he sent an e-mail confirmation of the gift's amount and related details. Browne and Penn officials both agreed that the process could have taken weeks if conducted via phone and fax.

Kneeley pointed out that e-mail was not the school's usual channel for attracting major gifts. "This is not something that we would do with someone we don't know," she said. Browne is a trustee of the university and also serves as president of the Penn Club in New York. She added that school officials would be thanking Browne in person.

Carlson, Scott. "Penn Officials Use E-Mail to Negotiate a $10-Million Gift." Chronicle of Higher Education 2/9/2000.

See also: "Christopher H. Browne Makes $10 Million Gift to the University of Pennsylvania." University of Pennsylvania Press Release 1/28/2000.

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