The University of Pennsylvania recently received a $25 million gift to provide a new center for economic and political science at the school's Philadelphia campus. Alumnus and Board of Trustees member Ronald O. Perelman, who made the contribution, is a long-time donor for the institution, which he explains means a lot to himself and his family.

Perelman's father, Raymond G. and mother, Ruth, are responsible for the largest single gift Penn has ever received - $225 million for the institutes' School of Medicine, which was named in their honor. Now, the family's legacy will expand on campus with the creation of the center. The Ronald O. Perelman Center for Political Science and Economics will be located in Penn's central campus at 36th Street and Walnut Street. It will provide a collaborative space for the two departments to come together.

"With this gift, Mr. Perelman has single-handedly assured the vitality of the social sciences at Penn by providing for a home for our truly outstanding political science and economics faculty," said Rebecca Bushnell, dean of the School of Arts and Sciences. "I know that the impact of this gift will be felt across the School for years to come."

Organizations that are looking to raise funds through grant opportunities or local campaigns can use nonprofit financial management solutions to improve their chances of success. The software can help program leaders identify potential donors and send out applications with accurate accounting information.