Foundation withdraws $14 million donation for UNLV School of Med - FOX5 Vegas - KVVU

Foundation withdraws $14 million donation for UNLV School of Medicine building

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The University of Nevada, Las Vegas School of Medicine is shown in an undated image. (FOX5) The University of Nevada, Las Vegas School of Medicine is shown in an undated image. (FOX5)
LAS VEGAS (FOX5) -

The University of Nevada, Las Vegas lost a $14 million dollar donation for a new medical building. 

In a letter to UNLV, the Engelstad Family Foundation said it is rescinding the "memorandum of understanding between the Engelstad Family Foundation and  the University of Nevada, Las Vegas Foundation establishing the Engelstad Family Foundation Medical Education Building Matching Gift Pledge.”

The medical building is expected to be built in the heart of the Las Vegas Medical District with a target date of 2021. It will house medical students, faculty offices, lounges, clinics and have a research facility.

A source told FOX5 the gift was made with the condition that UNLV President Len Jessup remains in office. The donor was aware of criticism by some regents of Jessup and that is why the provision was in place. The donor trusted Jessup more than the regents and wanted to make sure the money was handled properly.

Jessup confirmed in a statement that he intends to look for other opportunities outside of UNLV, but called reports of his resignation “misleading.” In a statement released Wednesday, Jessup acknowledged that he has not agreed on the direction of the university with some of the regents.

The Engelstad Family Foundation said is not pulling funding for scholarships. UNLV said the donation has provided $10 million for scholarships. Additionally, the foundation offered an additional $1.7 million in matching grants for scholarships this week. 

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