Hollins University, a liberal arts educational institution for women in Roanoke, Virginia, has received a $20 million pledge from the JSM Charitable Trust for the university’ endowment fund. The trust is a philanthropic entity operated by Elizabeth Hall McDonnell, a 1962 alumna of Hollins University, and her husband James S. McDonnell III, whose father founded McDonnell Aircraft Corporation. The company later became McDonnell Douglas Inc. In 1997 McDonnell Douglas became part of Boeing Inc.
The $20 million gift is the largest ever received by Hollins University. Elizabeth Hall McDonnell has been a member of the board of trustees of Hollins University since 2008. Previously, the couple donated $6.5 million to fund renovations of the university’s science building and the Hollins Theatre.
In announcing the gift, Nancy Gray, president of Hollins University, said “I thank the McDonnells for their remarkable generosity and informed understanding of the importance of an unrestricted endowment. This designation will allow us to address priority needs or fund exceptional opportunities, wherever the impact for Hollins will be the most significant.”