The University of Cincinnati (UC) has announced that a $56 million gift from the estate of Hugh Hoffman (MBA ’63) will fund scholarship programs at three UC colleges.

The largest donation in support of scholarships in the more than 200-year history of UC will be used to fund the Hoffman Honors Scholars Program, which will assist undergraduate students in the College of Arts and Sciences, the College-Conservatory of Music, and the Carl H. Lindner College of Business. The first cohort will be selected before the 2024-25 academic year. In addition, the gift will establish a $14 million endowment for student-athletes.

The bequest was initially reported in September to be “about $50 million,” but without the final amount or details as to how the funds would be used. Hoffman, who died on March 2 at the age of 91, was an investment advisor for W.E. Hutton & Co. and Thomson McKinnon in Cincinnati.

“Mr. Hoffman’s extraordinary gift creates educational opportunities for UC students to create a better future for themselves and our communities,” said UC provost Valerio Ferme. “The Hoffman Honors Scholars Program will allow successful students…to earn a degree and become globally minded leaders that can make a positive impact in our rapidly changing world.”

(Photo credit: University of Cincinnati Foundation)