Elon University will be receiving a $3 million gift from one of its graduates.
The donation is an estate gift from Christopher Martin, who graduated from the school in 1978. Martin is chairman and CEO of a New Jersey bank, and currently sits on the school's Board of Trustees. Martin's son Nick is also an Elon graduate.
The university says the gift will be applied to scholarships and other as-yet undetermined uses.
The News and Record reports it's not the first time Martin has donated to the school. Previous gifts totaling $1.7 million were used for a recently announced on-campus hotel, an alumni center and a scholarship for students with financial need.
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