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U Of L Lands $10M Gift

The University of Louisville has landed one of the largest gifts in the school’s history – a $10 million donation from a businessman.

The gift from J.D. Nichols is undesignated, meaning it can be used at the discretion of UofL President James Ramsey.

The donation announced Thursday continues the school's fundraising momentum.

UofL recently surpassed its $1 billion goal for a fundraising campaign that began in 2007.

The school says Nichols' gift will be paid over three to five years. Nichols is chairman of NTS Corp., a real estate development firm.

The donation was announced at The Nucleus, the UofL Foundation's new office building. The Nucleus is the first new building in a developing complex for entrepreneurs and researchers. UofL says the downtown complex will be named for Nichols.