Last January, Iowa State announced a $93 million gift in the form of a majority stock ownership of Curriculum Associates, LLC, to benefit the College of Liberal Arts and Sciences.

Thursday, the university announced that the gift will result in an endowment of approximately $145 million to the college.

An anonymous couple made the donation of the stock to Iowa State.

The permanent endowment will generate $5 million to $6 million in revenue each year on a perpetual basis for the College of Liberal Arts and Sciences.

“I am so pleased about the extraordinary impact this endowment will have for students,” said Beate Schmittmann, dean of the College of Liberal Arts and Sciences. “The new endowment will more than triple the amount of scholarship dollars awarded by the college, boost our ability to provide Iowa State students with the opportunity to learn from superb faculty, and accelerate innovation in teaching and research.”

The increase of the gift from $93 million to $145 million is a result of Curriculum Associates’ capital partnership with Berkshire Partners, a Boston-based investment firm, and the transaction is pending federal approval.

“The proceeds from this generous donation will allow us to begin transforming the college and the university for generations of students,” said Benjamin Allen, Iowa State University interim president.

The gift will eventually impact all parts of the College of Liberal Arts and Sciences, which provides core classes to students in all majors.

“We are so grateful to our generous donors who made this possible,” Allen said.

The donation is a part of the ongoing Forever True, For Iowa State fundraising campaign by the Iowa State University Foundation.

“We are excited that the proceeds will quickly go to work for the people and programs at Iowa State,” said Larissa Holtmyer-Jones, president and CEO of the Iowa State University Foundation.