The Investigators
Exclusive: Brown University out of millions dollars after never using donation
The trust of the late R hode I sland philantrophist Paul Levinger donated more than a million dollars to Brown University nine years ago.
The money was to establish an endowed professorship at the university's medical school . But the money was never used.
And now the trust wants to take the money from Brown and give it to an institution that will use it. The Brown University Medical School is affilated with several hospitals in Rhode Island.
The late Paul Levinger was a successful businssman and former owner of the Spediel watchband company. He donated millions of dollars to Brown university, where he as a trustee.
�He loved Providence and everything about Providence . He was a community person.�
The lawsuit the Levinger trust filed against Brown says in 1994 the trust gave the university $1.2 million dollars to establish the Paul and Ruth Levinger professorship. Shapiro said the university has not responded sufficently to the questions of the Levinger family about the status of the gift.
�If somebody said to you give me a million dollars and i will establish something in your honor and nine years later you don't do it, how would you feel.�
The lawsuit says by 2001 the market value of the Levinger gift had reached $2.2 million dollars. �We believe it may be close to three million dollars.�
Shapiro says the Levinger trust has been in contact with a Boston hospital that would love to have the money. He quoted a hospital officail as saying...
� If you give us a million, two hundred thousand dollars, we will in six months guarantee to you that you will have a chair in your father's name.�
It's not clear why Brown never used the money. A spokesman for the university says a response to the lawsuit was being filed in P rovidence superior court. Brown does not want to lose the money, but if a judge agrees with the Levinger trust, the multi-million dollar gift could end up with a hospital in Boston .
|
