$500 million gift for McPherson

McPherson College announced a $500 million gift Friday. The donor is anonymous.

The donor has previously pledged $500 million. The combined $1 billion gift will be paid over time until the donor’s death, at which point the remaining funds will be paid.

McPherson, in Kansas, only has about 800 students.

Also on Friday, New York University announced a $200 million gift for its medical school on Long Island, from Kenneth and Elaine Langone, which will allow all students to receive a full-tuition scholarship.