Free Press/CBC: Rady family donates $30 million to U of M
The University of Manitoba received the largest individual gift in its history Thursday morning: $30 million from the Rady family, in honour of Rose and Dr. Maxwell Rady, who came to the city from Russia more than a century ago.
The longtime Winnipeg family, headed by Winnipeg-born, U of M-educated and San Diego-based magnates Evelyn and Ernest Rady, made the unprecedented donation through the family’s foundation.The money goes to the Bannatyne campus — the Faculty of Health Sciences is being renamed the Rady Faculty of Health Sciences. Within the faculty, doctors will now graduate from the Max Rady College of Medicine.
The university said the $30 million will be placed in an endowment fund within the ongoing $500 million Front and Centre capital campaign, and will generate about $1.6 million each year for student financial aid, research, and equipment and capital upgrades.
Ernest Rady told the U of M that the family gift was to honour his parents: “They taught me the values of hard work, and of giving back. The College of Medicine is where my father got his start and allowed him to make a difference in the lives of so many people here in Manitoba so this College is of particular significance to me and my sisters.