Fabruary 9, 2007
The University of Virginia received its largest single corporate gift since launching a $3 billion fundraising campaign last year.
Richmond-based Phillip Morris USA donated $25 million dollars to UVa during a ceremony Friday morning. A portion of the money is set to be used for research and projects with the Schools of Medicine and Commerce.
UVa and the cigarette company's Chief Executive Office realize there's a chance of controversy.
"I want to say we recognize the work involved in this could be difficult, and quite frankly controversial. We are optimistic that the rewards delivered by this initiative will make the hard work all the more worthwhile," said Michael Szymanczyk of Phillip Morris USA.
UVa said some of the money will also be used to expand their relationship with Phillip Morris USA on recruitment and leadership development.