Largest-ever cash gift of $100 million left to Huntington Library (USA)

"A $100 million gift from the estate of Huntington Library doyenne Frances Lasker Brody - the largest cash gift in the institution's history - was announced Tuesday by President Steven S. Koblick. It feels "a lot like winning the lottery," Koblick said of the bequest, which could yield more than the announced amount. But the money won't be used to buy the equivalent of "a new house, a second car, a third home," he said. "The Huntington wants to be very careful not to overcommit these funds," Koblick said. "We want to put it into safe investments that will augment our lifestyle over time ... This is really going to be used strategically to stretch the financial basis of the institution." None of the money will be used for new buildings, Koblick said. As Brody wanted, her gift will focus on funding the Huntington's botanical gardens, allowing operational funds to go instead to such priorities as staff salaries, Koblick said"