Breaking news.
LOS ANGELES—The Lincy Foundation will transfer all of its assets, currently valued at $200 million to the UCLA Foundation, effectively shutting down the charitable organization founded by Armenian-American businessman Kirk Kerkorian.
The announcement was made by UCLA Chancellor Gene D. Block to the campus community via UCLA Newsroom, the university’s online publication.
Below is the complete article as it appeared in UCLA Newsroom.
UCLA Chancellor Gene Block and Kirk Kerkorian, founder of The Lincy Foundation, today announced the formation of the Dream Fund at UCLA, a community-based fund devoted to the support of medical research and academic programs at UCLA, as well as the support of a wide range of charitable projects throughout the United States. The Dream Fund will be part of and administered by the UCLA Foundation.